HOA 101: Are They Right for You?
If you’re looking to buy a house in the greater Wilmington area, you’ve probably noticed that many communities are covered by a Homeowner’s Association, or an HOA.
HOAs are kind of like governing bodies for residential communities, typically run by a board of volunteers who live there. The associations are responsible for setting and enforcing a standard of property maintenance and appearance, upkeeping shared spaces, and also providing services for residents.
One thing that’s important to understand when you’re buying a home in a HOA community is that opting into the association is generally mandatory, and you are required to pay a monthly fee that is tied to your deed. For many, the perks of the HOA are worth the fees! For others, the freedom and privacy are top priorities.
Let’s break down the pros of buying into an HOA neighborhood vs a non-HOA neighborhood, so you can be informed during your home search.
Pros of HOA:
There is usually a standard of maintenance for homes.
HOAs generally provide a clear standard of guidelines on the expectations for the upkeep of homes within the association. This can help maintain the curb appeal of homes in the neighborhood and even help protect the overall value of your property.
There are no surprises.
Any additions on homes must meet HOA guidelines, so loud, random construction is not a worry. What you see is what you get, so if you like what you see, that community is likely the one for you!
There are often resident services to take advantage of.
Things like trash, sidewalk and tree maintenance, and sometimes even landscaping and lawn care are covered by HOA fees. The extent of these services depends on your specific association, but the fees you pay come back to you and your neighbors!
You have access to amenities and well-maintained community spaces.
Some resident amenities like pools, parks, clubhouses, and sometimes security gates are all covered by HOA fees. Your evening strolls are guaranteed to be scenic and safe, community pools will be clean, and sometimes there are private spaces to rent for gatherings or events.
Pros of no HOA:
You have more freedom over your property.
When there’s no HOA, there are no restrictions on aesthetic choices to the exterior of your house. You can paint your home, doors, etc. any color you’d like, make your own decisions about fencing and landscaping, and there are no fines to pay if you don’t abide by a set of neighborhood rules.
You are not responsible for additional monthly payments.
While there are services you’ll have to pay for on your own without an HOA fee, you don’t have a fixed monthly payment required alongside your mortgage, taxes, and other utilities. One less bill to pay!
There is more privacy.
Neighbors are not as invested in what you’re doing with your home, and you’re free to install things like fences or hedges. Homes may even have larger lots with more distance between one another, which offers additional privacy.
Your ownership is not tied to any stipulations.
This is one of the most common reasons some people may opt for a home without an HOA. Failing to pay your HOA fees or refusal to abide by rules you may not agree with could result in liens or even a foreclosure of your home.
If you value a set of community standards and more amenities, a neighborhood with an HOA would be perfect for you! You can check out my highlights on Riverlights and Middle Sound Loop for examples of these types of communities that families have been flocking to!
If you value more privacy and don’t care much about the “extras,” you may want to opt for a community without one, though they do take longer to find in this area!
Want to learn more about neighborhoods in the Wilmington area and begin your home search? I’d love to be a part of your journey! I’ve been a Wilmington resident for over a decade and love where I live. Click here to schedule a free intro call and let’s find your dream home!
