If you’re thinking of buying or selling a home, whether or not it’s located in a community governed by a Homeowners Association (HOA) will always be an important factor to consider. While there are many benefits to having an HOA, there have been situations we’ve come across where the presence of an HOA either prevented a property from selling fast, or selling for a lot less than the asking price.
Here are some of the Pros and Cons we’ve experienced ourselves in either owning houses with HOA’s or trying to sell one on the MLS after completing repairs.
All the bad aside, in our experience Homeowners Associations do come in handy. Especially in middle class suburban areas where builders and developers are expanding to accommodate new jobs. Without HOA’s, these newly developed communities would fall into disrepair long before the job market they were built to support became steady. If you’re in the market to buy a house due to a new job, finding one with a good HOA could be of benefit.
For anyone trying to sell a house that has an HOA, we hope this article gives your potential buyers an idea as to how that HOA can be viewed as a plus versus a minus. If you are a seller who is having trouble finding a buyer due to your property having an HOA, feel free to give us a call at 844-388-APEX(2739). We might even be able to give you some tips on how to make your property sell faster!
We’re here to Help.
-APEX Home Buyers