Homeowners’ Associations (HOAs) are common in many parts of the country. While it is less common for vacant land to be associated with an HOA, more areas of the country are getting in on them. Many people find it hard to look past the annual dues they have to pay, but there can be quite a few benefits to living in an HOA.
Many HOAs, particularly those in rural areas, use some of the money they collect from landowners to maintain roads throughout the subdivision. When you turn off an interstate or county highway, and find roads that are wide, well-graded and free of pot holes and debris, there is a good chance that an HOA or other community group is responsible.
Do you like to fish? Do you want to take your kids to a swimming pool? Do you enjoy having a campground or picnic area? If you own land within an HOA, chances are they maintain a public area for their members to enjoy. These areas are often either private for members only, or else they are free to HOA members.
Often, owning land in an HOA means that you can have rural property with plenty of privacy, but still enjoy the comfort and services of a city. This can include snow removal and garbage services. Having a collective community can also help to bring water and sewer services to an area faster, and many larger HOAs put together fire and security services as well.
Higher Property Values
Because HOAs are organized for the good of the whole community, property values within an HOA are usually higher. It may be frustrating to be told you have to submit plans for your new building project to an HOA committee, but this means that everyone’s land, and anything they might build on it, stays at the highest possible value.
Get to Know Your Neighbors
It’s always a good idea to remain friendly with your neighbors, and having an HOA can help you to keep up that friendly relationship. Many HOAs send out newsletters, have online forums and will often have community get-togethers for all members to enjoy. Being part of an HOA can be the start of some great friendships.
Homeowners’ Associations offer many benefits worth far more than the fees they collect. When looking for your piece of dream land, be sure to check out if there is an HOA associated with it, and then investigate them as part of your buying process.