It is no secret that Homeowners Associations have a bad reputation. Popular culture and the media tend to portray Homeowners Associations as micro-managing money-grabbing corporate entities, and some poor quality Homeowners Associations management firms do little to improve this reputation.
What many fail to understand is that Homeowners Associations are actually not-for-profit organizations that are run by boards of volunteers. A local San Diego area HOA will hire a professional management firm in addition to providing invaluable resources to members.
However, those monthly fees tend to pay off.
Here are just a few good reasons why a Homeowners Associations-run property is a smart investment:
- Accessibility to resources: Homeowners Associations provide members with valuable benefits including access to in-house plumbers, electricians, and other types of handy labour. This means a Homeowners Association member will never be left waiting when something goes wrong. Many Homeowners Associations will provide exterior paint and even painters, as well as landscaping services either at a reduced price or free for members.
- Homeowners Associations membership comes with other perks as well. While access to amenities vary, many members can count on exclusive access to swimming pools, sporting facilities, community activities, gym equipment, gardens, country clubs and more, all of which are maintained through the Homeowners Association.
- Higher property values: Homeowners Associations guaranty security, cleanliness, community involvement, and safety to its members and as such tend to retain higher property values than non-Homeowners Association property.
- In many cases, a Homeowners Association is actually likely to increase in value, which can be reassuring in today’s unstable economic climate.
- Community involvement: Homeowners Associations provide members not only with community resources and exclusive access to events, but also opportunities to become actively involved in the way that communities are run.
- Homeowners Associations also provide conduits for appropriate mediation and resolution of any neighborly disputes, meaning as a whole Homeowners Associations tend to foster closely-knit and peaceful communities that are sources of pride for their members.
- Security: Homeowners Associations have the added benefit of providing levels of safety and security that non-Homeowners Associations communities can’t provide.
- Many Homeowners Associations will even have built-in gates and barriers to entry that help to reduce rates of crime and break-ins.
- Strictly enforced speed limits make Homeowners Association neighborhoods particularly safe places for children to live in and play within, and rules and regulations ensure that all troublemakers are quickly and efficiently sifted out out the community.
The general purpose of a Homeowners Association is to ensure the overall quality, security, and accessibility to resources and a sense of community in a given neighborhood. As such, Homeowners Association property tends to maintain higher long-term value than non-Homeowners Associations membership in addition to providing numerous community-oriented resources.
The bottom line is that in today’s shaky housing economy, investment in Homeowners Associations-run property is a safe and sound investment for the future.