What Are the Benefits and Drawbacks of an HOA?

Kevin Langan Phoenix Real Estate Podcast​

On one hand, HOAs provide their neighborhoods with a lot of amenities. On the other hand, they can cost a lot.

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What are some of the benefits and drawbacks of an HOA? There are two main benefits and two main drawbacks:

The first benefit is the neighborhood amenities that they provide. A lot of HOA neighborhoods have pools, parks, walking trails, and barbecue areas. These are all financed and maintained by the association, which means you can enjoy them without having to maintain them. The second benefit is that they’re really good at controlling the look and feel of a neighborhood to make sure that all of the homeowners are taking good care of their homes.

Some HOA's don’t provide a lot of value for the cost that they charge.

The first drawback is the cost. Some HOAs don’t really provide a whole lot of value for the cost that they are charging. It would be wise to look at the restrictions that they have and how much they cost when considering an HOA.

The second drawback is the restrictions they put on landscaping design and the exterior color choices for your home. These HOA rules and regulations exist to maintain the look and feel of a particular neighborhood, but some of them may have been implemented a long time ago and be outdated now.

If you’re thinking about buying, selling, or investing in real estate, please give me a call or send me an email. We’ll be sure to schedule you for a free consultation. I look forward to hearing from you.