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HOA v. Non-HOA Properties
Dated: January 22 2021
Choosing the perfect home for you and your family can be a big decision that requires a lot of contemplation and research. You need to be fully aware of the after-care cost before you dive into signing a contract. As a first-time buyer, some may not be aware of the expense that comes with owning a home. Such as paying taxes, maintenance on the property, HOA fees, etc. Using a Realtor knowledgeable in the industry is a huge plus when it comes to purchasing a home.
We often hear the words HOA from potential buyers, some are reluctant to put in an offer due to high HOA fees. However, we must first understand what the HOA really is and what it does for us. The Home Owners Association is a subsidiary organization within a subdivision, planned community, condominiums and other residential sectors. When you purchase property located in an HOA, you automatically become a member and therefore are obligated to pay the HOA fees. Within an HOA, there are some restrictions as to how much and what improvements can be done to the exterior of the property or what type of home you are allowed to build. The association spearheads regulations and sanctions that will benefit most everyone in the community. The HOA fees that residents pay monthly are used for improvements within the community, management of facilities such as outdoor pools, recreational facilities, outdoor landscaping, and others may simply be to maintain the roads in the community.
The HOA promotes peace and ordinance for all of its residents. Some people become so fed up by zoning regulations that they do not want extra rules that come with living in an HOA community or extra ordinances to follow when making improvements on their property. HOA restrictions can sometimes feel overbearing and intrusive. Buyers on a tight budget may also like to skip the extra monthly fee that the HOA requires.
On the other hand, having an HOA in your neighborhood can make you feel safe and amenities can be properly looked after. If you look at the other side of the story, some residents are ecstatic to have a great number of amenities they would otherwise not have access to. Either way, both HOA and non-HOA communities have their merits and flaws. As a buyer, you should have a clear view and understanding of what you are getting yourself into.
Here in Northern Arizona some of the HOA’s have so many amenities at such a low cost in comparison to other states. If you are looking for a large amount of amenities Granville in Prescott Valley has a monthly HOA fee of $49. They offer, 3 recreational centers, 3 pools and 1 kiddie pool,Spas, jungle gym equipment in multiple areas throughout the community, tennis courts, super gym, bbq areas, verandas, basketball courts, shuffle board, chess tables, Pickle Ball, Dog Park, Club houses you can rent out, Community Kitchen, Jogging Trails, Meeting Rooms and I’m sure I missed some items.
We would love to answer any questions you may have on our local HOA’s and assist in finding the right home for you. Call The Stephanie Woods Team 928-237-4455 for more information. Check out our current listings at www.PrescottAZHomeFinder.com
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