What is an HOA? The Pros and Cons

So, you’re thinking about buying a home but it says it’s a part of an HOA. What does that mean? When you buy a home that is part of a homeowners association, or HOA, you are agreeing to become a member of an organization made up of homeowners in your subdivision or condominium. As a member, you will have to live according to the HOA rules and pay a (often monthly) fee. The fee you pay will go towards the maintenance of your community.

HOA’s come with many pros are cons! Before you make a decision and decide to buy a home in a community with a homeowners association, make sure you are aware of the costs and benefits of living with an HOA!


CON #1: The Home Owners Association will set the standard for your home.

One of the main cons of living with HOA rules is that the organization will dictate how your home looks. Things such as paint color, roof cleaning, parking, toys in your yard or lawning mowing can be regulated by the HOA.

Although this is a con for many, it can be turned into a positive since your neighborhood will always remain clean and well maintained. In other words, you won’t have to risk living next to an abandoned, rotting house!


PRO #1: The HOA will manage your community

If you community has a pool, sports facility, lounge or any other common space along those lines, your HOA will be in charge of managing and maintaining these amenities! This is partially where your HOA dues will go!


CON #2: HOA dues add an extra cost

Another con of living in a community with an HOA is the cost of the HOA dues! When purchasing your new home, you must be careful to factor in the HOA dues to your budget. If you fall behind on these payments, this could lead to a foreclosure!


PRO #2: Your HOA will handle disputes

Have you ever had a really noisy neighbor but couldn’t do much because it was “their property”? Well if you live in a community with an HOA, you can call the organization to handle any disputes you may have with your neighbors.


When shopping for your new home, HOA’s can be a huge influence on your way of life! Make sure you do your research before making a decision! Please feel free to contact me if you have an questions about this process.

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