Townhomes and Condominiums are popular in Raleigh, NC. If you’ve decided to move to the area, you’re one of many people doing so. And if you’ve decided to purchase or invest in a townhome or condo, then more than likely, you are responsible for paying Homeowners’ Association (HOA) dues each month.

What is a Homeowners’ Association?

A homeowners’ association (HOA), by definition, is the legal entity created by a real estate developer for the purpose of developing, managing and selling a community of homes (according to Wikipedia). It has the power to enforce rules and restriction as well as the power to manage whatever amenities are included in the development. Most townhome/condo communities have an HOA, and many people don’t mind it because there are various perks that go along with it.

What are the Advantages of Having an HOA?

Tired of people letting their dogs use your front lawn as their own personal bathroom? How about that neighbor who keeps working on his car in the street? If you had an HOA, then whenever someone purchased a home in that particular community, along with their new set of keys, they would also get a list of all of the covenants and rules that have to be followed. In a lot of communities, HOA’s are a great resource to have because everyone who lives there knows the rules ahead of time; and if they’ve chosen to live in the community, then they’ve agreed that they will abide by the rules, thereby making the overall experience of being a homeowner more enjoyable. No one can use the excuse, “I didn’t know,” because the rules would have already been explained in person and then provided to them in writing. Some communities even have online sites where residents can post comments about various activities, problems and the like.Â

Another advantage to having an HOA is that the dues you pay each month go towards the general upkeep of the neighborhood. For example, you never have to mow your lawn because the HOA assigns a landscaping company to come out regularly to maintain the grounds. The same thing is true of the pool, clubhouse, tennis courts, playgrounds and the exterior of your home. If there are problems with any of these things, it isn’t your headache. This is part of the appeal of living in a townhome community and the reason why so many people are moving into them.Â

While buying a single family home has its advantages too- for people who like neatness and order, HOA’s seem like a great idea. When you’re preparing to buy real estate in North Carolina, make sure you contact a qualified NC buyer’s agent. They’ll be able to help things run more smoothly.

Tags: homes and community //