Pros and Cons of buying a home in an HOA

Home Owners Associations, or HOAs are governing structures for planned communities. People tend to either love them or hate them. I for one, have always avoided them for fear of conformity. I march to the beat of my own drum and always have. One time long before I had my son, my husband and I were house hunting. We went to look at a gorgeous house in a wonderful community, after which I started crying (I don’t cry often). When my husband asked me why I was crying, I said tearfully that I didn’t want to be a soccer mom pulling in and out of my driveway at the same time as all of the other soccer moms! I didn’t even have a child yet (Ironically, years later, I was not only a soccer mom, but a soccer coach)! My reaction was not logical at all, but again, HOAs can be polarizing.

So, what are some Pros and Cons of HOAs?

PRO: An HOA is designed to protect the monetary value of your property

Although some of the restrictions may seem overly rigid (paint colors, fence types, grass length, etc.), these guidelines provide a uniformity and aesthetic to a community. If everything looks upkept and neat, chances are that your home value will stay with the values of the other homes in your community. Recent studies have shown that homes in HOAs sell for roughly 4% more than non HOA homes.

Near my house in a nice, suburban downtown area, there is a busy street with no HOA. One of the homes amidst all of the other well maintained homes happens to be that of hoarders. Every inch of the lawn has piles of things, some covered with umbrellas or tarps to protect it when it rains. As there is no HOA, their neighbors can’t do much about it. But the condition of this home not only affects the value of their own home, but that of the homes around it. You never know who your next neighbors might be.

You don't get to choose who moves in next to you

CON: HOAs can be so restrictive that they feel stifling

On the flip side of the positive aspect of conformity, sometimes there are so many strict guidelines that it can feel oppressive. Grass must be a certain length, paint colors, pools and sheds must be approved, no more than one car in your driveway for a certain length of time, the number and type of pets you can own. Personally, I am too strong-willed to have so many restrictions put on me.

PRO: Amenities

Many Homeowners Association Developments have amazing amenities. Community Pools, workout facilities, basketball courts, greenways, dog parks, rec centers… many of these amazing amenities are convenient to your home. Please check however with the Association however, sometimes pools and golf courses can have additional fees in addition to the HOA dues to use.

CON: An HOA can be pricey

In some HOAs where only common areas are maintained and there aren’t a lot of amenities, HOA dues can be very reasonable…maybe only $75-$100 for the whole year. But others are several hundred dollars per month on top of any mortgage you might have.

PRO: HOAs can be a great place to meet friends

As much as I have always avoided living in an HOA, I do feel like I have done a disservice to my 12 year old son, who is an only child. During summers and the Pandemic, there were no neighborhood friends to go outside to play with and I feel that he is a very lonely child. For children and adults, the social aspect of an HOA can be amazing to have a close-knit community to gather with. It can definitely be more isolating to not have that as an option.

PRO: Some of the landscaping may be taken care of for you

Depending on the specific HOA that you look at, some may include yard, lawn and exterior building maintenance in your dues.

In conclusion, there are many pros and cons to buying and living in a Homeowners Association community. With the rapid growth of the Triangle area where I am (Raleigh-Durham-Chapel Hill), it is harder and harder to find a home that is NOT in an Association. You may like the pros of being in an HOA, or you may not. Ultimately, it truly comes down to what works for you.