When driving around a neighborhood it’s pretty easy to tell if it has an HOA or not. Are the houses all similar in upkeep and design? Do the community amenities all seem in good condition? If there is a front entrance is it well kept? If the answer is yes, the neighborhood most likely has an active HOA. So, what is an HOA and what does it do exactly?
HOA stands for Home Owners Association. The HOA of any neighborhood, community, townhome/condominium sets and enforces rules for all the properties within it. One reason for an HOA is to keep a certain standard for home appearances. For example, if you purchase a home in a neighborhood with Colonial style homes and an HOA, the HOA will ensure that any remodeling or architecture changes are consistent with Colonial style. In addition to the regulations on the exterior of the home, the appearance of the entire property will be held to a predetermined set of standards. So, fences, landscaping, driveways, etc will all need to stay in line with the rules determined by the HOA. This uniformity is often appealing to homebuyers since it means no one runs the risk of living next door to a deteriorating property.
HOAs also preserve and maintain community amenities such as common ground areas, playgrounds, pools, tennis courts, clubhouses and/or workout facilities. These amenities are often what draw homebuyers to a particular areas so keeping them in good working condition is a priority.
Due to all the services provided by the HOA, there are monthly fees associated with being part of one. The amount due each month will vary greatly by neighborhood, condominium complex or community. Homebuyers will need to factor these costs in when considering moving into an area with an HOA.
Many people prefer to live in neighborhoods with HOA as home values tend to be preserved due to the rules. However, for some homeowners the constant process of approval for even minor changes may feel too restrictive.
If you have a strong preference for finding a Nashville home either WITH or WITHOUT an HOA, call DeSelms Real Estate today at 615.550.5565 and let one of our award winning REALTORS help you with your search.