Give Some Thanks to Your HOA
- Author Kristen Sloan
- Published November 8, 2010
- Word count 462
A community's homeowner's association (HOA) is often the object of complaints within a community. While you may be outraged to receive a letter informing you that it is time to mow your lawn, repaint your house, or that your holiday decorations have been up a little too long, you should always be grateful for your HOA. It is a necessity to maintain order and beauty within your neighborhood. There is a noticeable difference between neighborhoods with strong HOAs, compared to those that have no HOA, or a weak one.
Keep in mind that an HOA is made of a Board of neighborhood volunteers, who sacrifice their time and talents to make your community a great place to live. This is beneficial to your home's value, so you should be supportive of these volunteers, since being on the HOA is often a thankless job. When you put your home up for sale, you will be grateful for your neighborhood's well-maintained properties and attractive landscaping. Homebuyers will pay a premium for a property in a desirable community.
While you are conducting a home search, it is important that you evaluate the potential neighborhood's HOA. You should ask for the minutes from its most recent meeting, and read through them carefully. This is a great way to determine if the neighborhood has problems or not. Is the meeting about debt troubles or about an upcoming block party? You should also get a clear understanding of the HOA's monthly, quarterly, or annual dues, since they vary widely from neighborhood to neighborhood. If the dues are high, determine if they will fit into your budget, and ask the representative about what exactly the dues cover. For example, are trash and snow removal included in the fee? Is any other sort of maintenance covered in the dues?
Most HOAs have a manual that outlines specific rules. While you are evaluating a neighborhood, study the HOA's rules very carefully. Can you live with them or are they too stringent for your lifestyle?
One example of a neighborhood with a strong HOA is Sloans Lake in Denver. The Sloans Lake Neighborhood Association (SLNA) is a group of neighbors working together to promote the safety, beauty, and growth of the Sloan's Lake neighborhood. While driving through the community, it is obvious that Sloans Lake has a solid HOA, since its properties are well-maintained and its landscaping is professional and attractive. With the help of the SLNA, Sloans Lake home values have increased as much as 10 percent throughout the economic downturn.
If you ever run into one of your HOA representatives, consider shaking their hand, and remember all of the great things they are doing for your neighborhood's property values. And, always remember to take your Christmas lights down before Valentine's Day!
Sloans Lake homes are a great investment.
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