When looking for a new home for sale in Central Florida, a buyer has many factors to consider. Which side of town are they interested in, what home style best suits their lifestyle, and should they buy in a community with a Home Owners Association (HOA) or without?
Let’s take a look at the pros and cons of having an HOA as you decide which option is best for you:
An HOA is an association of all members within a given community who pay monthly dues for the purpose a having a community that is regulated by a set of rules and policies.
Most HOA’s are set up with a board of elected individuals who represent the community members. Some are often maintained by an outside management company hired by the HOA whose duties are to ensure that the community is being operated according to the bylaws set forth by the HOA.
So, what does an HOA do? The association oversees the standards of the community and reports to its members on a regular basis. Monthly fees are used to maintain common areas, such as buildings, pools, roads, facilities, grounds, etc. while maintaining and enhancing property values.
When living in a community with an HOA, there are rules and regulations each resident must adhere to. Such rules are often drafted at the initiation of the development of the community and indented for the betterment of those who reside there. They may include guidelines on the aesthetic of your home, activities that are allowed in the community, and the requirement to ask permission before changing anything on your property.
Not all communities have an HOA. The decision to move into an area with or without a governing body such as an HOA is purely a personal one, as it can restrict much of what one can and cannot do. For example, you want to paint your home a dark shade of green unlike any of your neighbors' homes or keep an RV or boat in your driveway. If you have an HOA there may be restrictions on such activities.
Infringement on those restrictions could result in a warning and/or a fine, with each HOA having their own policies.
An HOA may be beneficial for many. Having an HOA can help keep property values from diminishing by keeping the community aesthetic maintained. Some might find that an HOA can be a good thing to have when it comes to what “is” and “is not” permitted.
For example, if there is a home in the neighborhood with a dead or and overgrown lawn that is detracting from the curb appeal of the neighborhood, an HOA can step in to help maintain the standards of the neighborhood. HOA fees also go towards the amenitiesammenities that many enjoy in Florida neighborhoods including community pools, neighborhood parks and recreation, and HOA managed clubhouses.
To some, an HOA sounds too restrictive. Not being able to plant a specific fruit tree in the back yard, build a new porch swing, or use a decorative mailbox, can be frustrating to some home owners whose HOAs have strict rules.
Non-HOA neighborhoods might allow for a more “flexible” style of living and may be a little lighter on the pocket book since there are no monthly HOA fees. However, just because there is not an HOA in a community, it does not mean “freedom rings.” There may still be city and county codes governing what one can and cannot do within a certain area.
There are a many neighborhoods that DO NOT have an HOA and many that DO.
To HOA or not to HOA is not really a “question.” It is more about a personal choice and lifestyle when it comes to buying a home and what best suits the needs of the buyer.