About 27% of homes across Utah are in homeowners associations.
An HOA operates much like a condo association. Homeowners pay a monthly HOA fee and enjoy a variety of perks in return, like community-centric amenities and maintenance of common areas.
If you're thinking about buying a home in an HOA, you should do a bit of research first. In today's post, we'll help you out by telling you some of the benefits of HOA communities. Living in an HOA can make your day-to-day much simpler, so keep reading and learn what an association can do for you.
Enjoy Higher Property Values
One of the biggest benefits of living in an HOA is higher property values. When you buy a home in a normal neighborhood, it's at the mercy of the local property market.
This is true to some degree with HOA properties as well, but the nature of HOA communities gives your property a bump. In fact, houses in HOAs are 4% more valuable than non-HOA properties, on average.
Don't Worry About Maintenance
We mentioned earlier that a homeowners association affords its members a certain lifestyle. One aspect of this lifestyle is leisure due to the fact that the association will take care of most of the maintenance for you.
In particular, the common areas - roads, sidewalks, parks, and landscaping - will always be well looked after. You don't have to pay for it because it comes out of the collective HOA fees, as do your neighborhood amenities.
Using Community Amenities
Another huge perk of your HOA will be the amenities you get to enjoy. Every HOA will have different amenities. Some might have playgrounds and walking paths, while others could have swimming pools, recreation centers, and tennis courts.
As a member of the HOA, you'll get to use these as much as you want. This promotes a sense of community that you just don't get outside of homeowners associations.
Rules and Regulations to Live By
When you join an HOA, there's a set of rules and regulations that you need to abide by. Your HOA board will provide all homeowners with the governing documents so that everyone knows exactly what to expect from each other as well as the leadership.
There might be specific rules about parking, having animals, or how your yard is to be landscaped. If you disagree with the rules, you'll have to take it up in a community-wide meeting, which brings us to our last benefit.
Voice Your Opinion
Possibly the biggest benefit of all is that you and your fellow HOA members decide how the community operates. There will be annual meetings involving the entire community and more frequent meetings for the HOA board to deal with day-to-day matters.
You'll always be given the chance to voice your opinion about rules, and also what new amenities the community should invest in.
Enjoy the Benefits of HOA Living in Jordan, UT
These are a few of the many benefits of HOA living in Jordan, UT. An HOA only goes as far as its leadership will take it, which is why so many HOA communities hire association management to help.
At PMI Salt Lake, we can make managing an association a breeze for you and your HOA board. Contact us today to find out more about our services.
