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What is an HOA and Is It Right for You?

What is an HOA and Is It Right for You?

As you begin searching for your next property, the sudden rise of HOA homes available may start seeming like a more attractive option. After all, it’s only natural to begin questioning whether an HOA community may be right for you or not. But how can you really know if this type of community is best for you?

Let’s take a look below.

An HOA, or Homeowner’s Association, is a residential community created to help maintain a safe, clean, and cohesive neighborhood community. HOA style communities can be structured as condominiums, townhomes, or single-family homes, all of which have a planned development to help ease the entire community.

These planned developments include outside fees to help manage the surrounding landscape, recreational facilities, and regular maintenance of the parking lot area. HOAs are structured to boost overall home value and help homeowners keep their properties as aesthetically pleasing as possible for future resell opportunities.

So how do you know if this community is right for you?

HOAs are often thought to be developments with “high fees and restrictive rules” but the reality is these developments are catered to a community mindset. An HOA is typically low maintenance as fees cover the outside upkeep, they ensure neighbors keep their properties in good condition to maintain your home’s value, and gated communities help maintain order in the inside roads.

It’s always best to fully determine whether an HOA community is the right match for you before you purchase a home. At MGR, our real estate agents are always ready to help you determine which type of property will be best for you. Reach out today with any questions.

 

By |2020-10-06T11:47:01-07:00October 13th, 2020|Blog|0 Comments

About the Author:

The MGR Review is designed to bring you the top news and tips regarding property management and real estate in Southern California. Our near forty years of experience in these industries give us a keen insight on how best to succeed. Let us know if there is a topic you would like us to discuss!

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