The Pros and Cons of HOAs

When you are in the market for a new home and are looking to move, there are many things to consider including, where you want to live, how much house can you afford and what are the taxes like in the area. Another item to think about is if the neighborhood you are moving into has a homeowner’s association, also known as, HOA. Many neighborhoods throughout Florida do have HOAs and there are a number of positives and negatives that go along with them.

On the positive side, HOAs can help maintain the uniformity and beauty of a neighborhood by establishing and enforcing community standards especially in regards to the curb appeal of the homes. HOAs can also help resolve disputes between homeowners such as noise complaints, property line issues and the like. In many cases, HOAs can help maintain the property values and quality of life for all of the residents in a given community.

On the other hand, HOAs are an additional cost to homeowners. And that cost can vary and increase over time. Another issue is that by establishing and enforcing community standards, HOAs are placing restrictions on homeowners about what they can and cannot do with their own property. The other possible downside to HOAs is when homeowner disputes are not being resolved or not resolved in your favor.

Depending on you and your family’s situation, buying a home in an area with an HOA may or may not be right for you. The professional team of Siesta Title and Escrow LLC can help you with your real estate needs. Call or email us today at (941) 889 - 7744 / Info@SiestaTitle.com and take an extra moment to like our Facebook page at Facebook.com/SiestaTitle to continue receiving the latest local real estate information!