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The Pros and Cons of Homeowners Associations

Homeowners Associations

Homeowner associations (HOA) can help increase property value and improve the amenities and safety of a community. Despite some drawbacks, these benefits can prove very attractive to some kinds of home buyers, who may even be willing to pay more for properties that are managed by an HOA.

Beautiful neighborhoods

Many neighborhoods have design requirements for home exteriors, in order to maintain a consistent or historical look throughout the community. The HOA approves any construction and renovation projects, to ensure that everyone follows the rules and meets the community standards. It also works with the local government to ensure adherence to municipal codes.

The HOA is also in charge of maintaining the beauty of communal areas, from the landscaping of roadsides and parks to renovations and maintenance of community buildings.

The result is a community that looks beautiful, well-maintained, and harmonious.

Community activities

The HOA is in charge of organizing events and activities that will benefit the residents. This can include festivals or parties, free classes or workshops, or weekend markets or bazaars. Neighbors can get to know each other and enjoy extra services without having to travel far from their home.

Improved facilities

The HOA can use association fees or hold special fundraisers in order to improve community facilities and amenities. For example, it can convert a community lot into a sports facility or dog park or improve playgrounds and walking trails.

Improved community safety

The HOA can also lobby for safety or security measures, such as better street lighting or security cameras. If the area has an increased incidence of crime, it can organize neighborhood patrols or hold safety seminars for the residents.

An active HOA also fosters stronger relationships between neighbors, which on its own can already increase everyone’s peace of mind. If people know each other, they are more likely to look out for one another, and notice any unusual activity or suspicious persons.

Homeowners Associations

Intervention for conflict and disputes

An HOA sets clear rules and regulations to prevent many common disputes, such as parking rights or short-term rental guidelines.

In the event that there is a complaint or a dispute, the HOA can also step in: by creating a committee and setting proper procedures and sanctions. This can help diffuse or resolve a conflict before resorting to more expensive and time-consuming legal means.

Stronger community pride

The HOA’s activities help build the “community identity” – from the unified look of houses to the group activities and stronger relationships with neighbors. Over time, this can develop into a sense of pride and even prestige. Residents are grateful to be part of such a close-knit, well-maintained neighborhood.

Increased property value

If the community identity is sustained over a long period of time, it becomes part of the neighborhood’s reputation. Naturally, it will attract the interest of property buyers, who are looking for not just a nice house in Margate or another shore town, but a “happy, safe place to live in.”

The HOA rules for adherence to building codes and exterior designs, and its regular maintenance and improvement of communal areas, can also add to the neighborhood’s overall property value. One study found that these ret

HOA: A rising trend

According to Investopedia, about 25% of Americans live in neighborhoods that have homeowner or community associations. While communities that have HOAs generally are more expensive – in addition to monthly HOA fees – a study shows that the perception of safety, exclusivity and homogeneity can all increase property value.

Tips for Buying Your First Beach House in Margate, New Jersey

Margate

For many people, their dream home sits on a pristine beach, somewhere just a short walk away from the water and with enough room to put two lawn chairs and an umbrella to read beneath. However, when buying a beach house, there are many things to consider that do not apply for homes further inland. With over 35 years of experience helping families purchase their dream homes, our knowledgeable agents know the most important considerations when buying near the water. Our goal at Soleil Sotheby’s is to find each client their dream home, so if your perfect house is beachside, please take into consideration these tips.

–         Sea Level

A home 30 ft from the water may sound like the most convenient option; however, high property taxes and flood damage may change your mind. Depending on your desired location, seasonal changes and flash floods should be taken into consideration when choosing your home.

–        Mudroom/ Outdoor Shower

An unavoidable occurrence when visiting the beach is that you take some of the beach back with you. If you are someone who doesn’t mind sand following you home, then a mud room or an outdoor shower is not a necessity. However, when it comes to cleaning a beach house you may find that these amenities make all the difference.

–        Extra Maintenance

Living by the ocean has plenty of pros, but saltwater can be a con when it comes to home maintenance. Salt water’s highly corrosive properties make repairing windows, outdoor furniture, and garden equipment a sometimes annual necessity. While you can take steps to protect your property from saltwater, this upkeep should be taken into account while viewing properties.

  • Location, Location, Location

Homes near public beaches can be a wonderful, less expensive option for those looking to save. But, if you are looking to relax with your family away from the crowds, private beaches are your best option. A good middle ground that is often overlooked, however, is the marina. Away from the crowds, less expensive than private beaches, a marina is a quiet spot for boat lovers and while keeping stunning ocean views.

 

Purchasing any home can be a stressful event; beach properties are not excluded from this. However, at Soleil Sotheby’s, our years of experience and specialization in beach towns such as Brigantine, Longport, and Margate, New Jersey, will give you peace of mind on your exciting journey of purchasing your dream beach house.