ldquo;If you are considering purchasing a property that is governed by an HOA, you should thoroughly understand how these associations work before you buy,rdquo; said Investopedia. ldquo;HOAs can affect not just your finances, but also your quality of life.rdquo;
To put it in the most general terms, ldquo;If youre buying a condo, townhouse, or freestanding home in a neighborhood with shared common areasmdash;such as a swimming pool, parking garage, or even just the security gates and sidewalks in front of each residencemdash;odds are these areas are maintained by a homeowners association, or HOA,rdquo; said Realtor.com. That means you pay a fee every month for the HOA to maintain those common areas.
Thatrsquo;s a big downside for many people, as is the idea that an association can mandate what a homeownerrsquo;s yard can look like, how loud they can be, or even how many guests they can have. The average person may excuse what seems like an intrusion or an overstep by their HOA if it means their home values are protected. But, for some people, being told what to do with their home is just too much to bear.
Once you know the broad ideas, digging in to the details can further inform your choices. A new survey from insurancequotes.com that ldquo;set out to gauge how much homeowners associations help or hinder neighborhood residentsrdquo; and which elicited 649 responses can help.
ldquo;Homeowners associations or HOAs are supposed to exist to make our lives easier. Donrsquo;t want to mow your lawn or deal with noisy neighbors? Typically for a monthly fee, HOAs provide property maintenance and a code of rules meant to provide a uniform look and feel to a community,rdquo; they said. ldquo;Sometimes, though, these codes can cause controversy and frustration, such as when an HOA fined a military veteran for displaying an American flag or told a family to take down their daughterrsquo;s playground.
Recent studies show Americans still believe homeownership is the key to the American Dream, but even more Americans say the American Dream is tied to freedom of choice in how they live. It can, therefore, feel personal when an HOA says your cherished lawn gnome or jam-packed flower bed is against the rules. But beyond the rules and regulations, how do homeowners really feel about their HOAs? We Surveying over 600 people from various demographics, we asked about the value of HOA fees, the most annoying HOA policies, and the craziest stories from HOA meetings.rdquo;
The way people feel about their HOA largely depends on what generation they belong to. ldquo;Overwhelmingly, baby boomers were the most likely to say they loved their HOA. As baby boomers reach retirement age, they might be more interested in housing communities that create a peaceful, well-maintained environment. Conversely, Gen Xers were the most likely to hate their HOA.
Would you be surprised to hear that loud music is the top complaint made to HOAs? Probably not. How about if we told you that itrsquo;s millennials who are most likely to complain about said loud music. ldquo;This jives with recent data that show millennials make the most sensitive neighbors,rdquo; they said. ldquo;Gen Xers were much more concerned with the appearance of landscaping on their neighborsrsquo; properties. Baby boomers, however, seemed to be on poop patrol, as they were overwhelmingly most likely to call their HOA if they found their neighborsrsquo; pet waste in their yards.rdquo;
The rest of the top complaints are below, separated by generational group.
While we can certainly understand why people opt not to go to meetings, we suspect some may reconsider after hearing some of the things that go on there. ldquo;The majority of homeowners, no matter their property type, reported witnessing arguments at an HOA board meeting,rdquo; they said. ldquo;Seventy-three percent of condo owners reported seeing an argument at their meetings. Among town house owners, 12 percent said they saw someone get physically aggressive at an HOA meeting. While throwing a punch is a rarity, itrsquo;s interesting to see just how often a meeting ends in argument.rdquo;
