Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

How to determine if an HOA is worth the monthly cost

How to determine if an HOA is worth the monthly cost

Homeowner's associations can improve a neighborhood, but can come at a steep cost

If you live in a community setting, it’s common to be required to pay a monthly fee for amenities and maintenance of your community.

The collector of such fees and the overseer of the rules of your community is led by a homeowners association, or HOA, a community association that binds homeowners to certain rules and restrictions, says Stephanie Horan, a spokesperson at Today's Homeowner.

"They can consist of individual homes in a neighborhood, condos, townhouses, and co-ops, with rules and responsibilities varying based on property type and location," she explains.

New Homes in Northern California.


What are Some of the Things That a Fee From Your HOA Covers?


According to Horan, HOA fees typically cover the cost of maintenance for community amenities such as swimming pools, parks and green spaces. Some HOA fees also help cover the costs of utilities, she says.

"Ultimately, your HOA fees will go toward keeping your community a clean and safe place to live," Horan tells FOX Business.


What are Some of the Pros and Cons of an HOA?


As mentioned previously, some pros of HOAs are in place to ensure and help uphold high standards for the community you live in.

"They keep the community clean, safe, and fun," insists Horan.

However, the cons include the fact that HOA fees can be expensive.

"Additionally, the rules and regulations set forth by the HOA can sometimes be seen as strict or excessive by people," Horan adds.

Suburb housing development viewed from above, Texas, USA.


How Can You Determine if Your HOA is Worth its Cost?


Horan says it will ultimately be up to the wants and needs of the specific homeowner. If you have a high standard for the livability of your community and don't want to be responsible for maintenance, then an HOA may be worth it, she says.

"If you value more freedom with the choices you make regarding your home and don't mind completing regular maintenance yourself, it may be best to avoid communities with HOAs," Horan tells FOX Business.

Can HOA free increase year to year?


Judy Dutton, spokesperson with Realtor.com, says HOA fees can get higher year to year, or whenever expenses escalate due to major repairs or new projects.

"The best way to anticipate whether fees will rise is to check the Covenants, Conditions & Restrictions or CC&Rs’ history for fee hikes or ‘assessments,’ which are temporary fee hikes," she says. In addition, it’s a good idea to check the HOA reserve fund, Dutton says, which is dipped into to pay for unforeseen costs without needing to hike residents’ HOA fees.

"A healthy reserve fund is a good thing to see," Dutton tells FOX Business.


How Does an HOA Fee Provide Peace of Mind and Convenience for the Homeowner?


HOA fees provide peace of mind and convenience for homeowners by taking care of maintenance and repairs you might not want to deal with on your own, says Dutton. For example, not needing to clean a pool or repair the pump if it breaks.

HOA's can help pool costs of neighborhood beautification and negotiate better deals with landscaping companies.


Also, says Horan, your HOA can help provide peace of mind by ensuring the community is safe and well taken care of.

"For example, many HOAs arrange for snow removal during the winter," Horan continues. "Homeowners in these communities can enjoy the peace of mind of knowing that they will drive more safely and avoid slipping on sidewalks. HOAs can provide convenience by taking care of regular maintenance like pest control and community landscaping."

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Street justice isn’t pretty but how else do you deal with this kind of insanity? Sometimes someone needs to standup and say something
Armenia and Azerbaijan sign U.S.-brokered accord at White House outlining transit link via southern Armenia
Barcelona Resolves Captaincy Issue with Marc-André ter Stegen
US Justice Department Seeks Release of Epstein and Maxwell Grand Jury Exhibits Amid Legal and Victim Challenges
Spain Scraps F-35 Jet Deal as Trump Pushes for More NATO Spending
France Faces Largest Wildfire Since 1949 as Blazes Rage Across Aude
French Senate Report Alleges State Cover‑Up in Perrier ‘Natural Mineral Water’ Scandal
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
OpenAI Launches GPT‑5, Its Most Advanced AI Model Yet
Brazilian President Lula says he’ll contact the leaders of BRICS states to propose a unified response to U.S. tariffs
US envoy Steve Witkoff arrived in Moscow to seek a breakthrough in the Ukraine war ahead of President Trump’s peace deadline
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Britain's Online Safety Law Sparks Outcry Over Privacy, Free Speech, and Mass Surveillance
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Karol Nawrocki Inaugurated as Poland’s President, Setting Stage for Clash with Tusk Government
US Charges Two Chinese Nationals for Illegal Nvidia AI Chip Exports
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
U.S. Tariff Policy Triggers Market Volatility Amid Growing Global Trade Tensions
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
German Finance Minister Criticizes Trump’s Attacks on Institutions
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
U.S. Tariffs Surge to Highest Levels in Nearly a Century Under Second Trump Term
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
Declassified Annex Links Soros‑Affiliated Officials and Clinton Campaign to ‘Russiagate’ Narrative
UK's Online Safety Law: A Front for Censorship
Parents Abandon Child at Barcelona Airport Over Passport Issue
Bus Driver Discovers Toddler Hidden in Suitcase in New Zealand
Switzerland Celebrates 734 Years of Independence Amid Global Changes
China Enforces Comprehensive Ban on Cryptocurrency Activities
Grok 4 Video plus Voice, can identify wildlife!
George Soros tells the World Economic Forum: "President Trump is a con man and the ultimate narcissist, who wants the world to revolve around him."
Hamas are STARVING the hostages.
The UK Does Not Have a ‘Far-Right’ Problem
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
JD Vance Warns Europe Faces “Civilizational Suicide” Over Open Borders and Speech Limits
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
House Republicans Move to Defund OECD Over Global Tax Dispute
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
×