CoreLogic came out with their Home Price Insights Report which showed appreciation rates in homes. Their findings are representing in the following graph:With these appreciation rates,
Purchasing A Home With A Homeowners Association Can Have Significant Influence On Your Investment
There are many benefits to buying a home that is part of a homeowners (HOA) association
The advantages to belonging to an HOA.
1. You are more likely to protect your property value.
2. Neighborhoods are more uniform and visually more attractive as there are rules everyone must follow to maintain their properties.
3. Disputes between neighbors are handled by a third party instead of unpleasant arguments within the community.
4. Residents are prohibited from parking and repairing cars on their front yard or street.
5. Parking of non-running cars or parking RVs on street is usually prohibited.
6. If the neighborhood has common community facilities as a pool, basketball court, tennis, recreation room,
you can enjoy them without as much expense and maintenance.
There are advantages to not belonging to an HOA.
1. The nuisance of busy bodies checking to see if you complied with every rule is eliminated.
2. You have more freedom in how to landscape both your front and back yards.
(many HOAs require you to submit a landscape plan for their approval in advance of any work).
3. You can be more individual in the exterior look as you choose to add different architectural features and choose your preferred color for your home, yes... you can paint your house pink with purple trim and its perfectly okay.
4. You could park your RV on the street or in your driveway for easy access.
(this is so much more convenient and less expensive than having to park your RV a distance from your
When considering purchasing a home in a neighborhood with an HOA, ask the your Real Estate agent to give you a copy of the CC&RS (covenants, conditions and restrictions), the Rules and Regulations.
Happy house hunting!