The demand for homes in neighborhoods tied to a homeowners association, or HOA, has been on the rise in recent history. However, sometimes buyers close without truly grasping what that means for them in their new abode. To help establish a better understanding of what comes along with living in a neighborhood governed by a homeowners association, let’s look at some of the pros and cons of HOAs in Atlanta.
Pro: Personal Investment
A good HOA typically welcomes the involvement of its members, and attending regular meetings is a spectacular way to quickly and easily introduce yourself to everyone in the neighborhood.
These meetings present an opportunity for members of HOAs in Atlanta to voice any concerns as well as come to solutions that abide by the agreed bylaws of the HOA. Members bringing up ways to shape the HOA’s bylaws or resolve an issue between members is a common occurrence and provides a neutral space to hash things out.
Con: Potential Expectations
While going to HOA meetings on a set schedule could be something that appeals to a certain individual, others may feel that it is unnecessary or undesirable.
Depending on the rules of your HOA, you could discover that attendance at some or all meetings is required. That’s why rule number one when looking at homes in an HOA neighborhood is to get all of the information related to the HOA before signing off on anything. Sellers should have a packet of up-to-date information available for any buyers and must provide it to you.
When you receive the info packet, carefully go through every bit of it to fully comprehend the commitment you are making should you close on an HOA home.
Pro: Community and Uniformity
When it comes to reasons for moving into an HOA neighborhood, you’ll often see buyers who are looking for a strong sense of community as well as a predictable and maintained aesthetic.
HOAs in Atlanta can establish rules that govern not only how money is collected and spent but how each and every house should look. For some, having a curated neighborhood that is cared for up to a mutually-agreed standard is very appealing. This can create a more ordered and harmonious environment for its residents, and therefore helps foster a greater sense of unity and security.
Con: Reduced Privacy and Individuality
Since HOAs in Atlanta attempt to tie the entire neighborhood together aesthetically, socially, and culturally, that often leaves little wiggle room to both express your individuality and maintain your privacy.
Being part of an HOA can be compared to living in a small town with the everybody-knows-everybody scenario, which can either be a comfort or a hindrance, depending on your outlook. HOA bylaws are commonly used to define a neighborhood style that each and every home must keep unless the bylaws were to be changed.
Pro: Amenities
HOAs in Atlanta pride themselves on their additional amenities and high standards of community maintenance.
Property management companies and landscapers are hired to mow the grass and trim back any overgrown flora in the common areas of the neighborhood. Amenities your HOA neighborhood may provide could include a swimming pool, fitness center, or banquet hall/meeting space. These amenities are a big point of separation from what one HOA offers to the next.
Con: Increased Costs
Hiring landscapers and maintaining those bonus amenities do come with a cost, and the costs are covered by your HOA dues.
The previously mentioned info packet will detail all dues and the schedule by which they must be paid and will, hopefully, give you a budget detailing how those dues are spent annually. Dues will vary widely from one HOA to another, and it’s critically important that you factor the potential HOA dues into your monthly budget in order to keep yourself on solid financial footing.
Guidance for Buying Homes in HOAs in Atlanta
If you’re looking at buying homes in one of the HOAs in Atlanta, contact our team today at (404) 977-5054!