The goal of a homeowners association (HOA) is to create a welcoming atmosphere that promotes safety, security, and community for all residents. Your HOA will help ensure that your quality of life and home’s value are protected. In general, condos with an HOA are far better looking and enjoy stronger resale value than condos without one.
What to Expect From Your Condo HOA
Your condo should provide a list detailing exactly what the HOA covers. That list provides a good idea of what kind of monthly fee to expect. If the list of amenities and perks is extensive, your monthly HOA fee may be a bit higher than a community that offers little in the way of bonus features. Ideally, the HOA fee will be 25 cents per square foot. For a 2,000 square foot condo, this would be approximately $500 per month. The Shoreline HOA dues range anywhere from $374-$734 per month.
The HOA should preserve the upscale nature of the community, protecting property values by providing a safe, well-maintained environment. A perk of condo life is coming home to a pristine building, with spotless common areas and magnificent curb appeal. The HOA makes sure you always enjoy continuity in that expected environment.
A diligent HOA offers a layer of protection against community degradation. Ensuring that all residents abide by the rules and regulations helps everyone feel safe and comfortable. Your HOA prevents one resident from creating problems for the rest.
One of the biggest hassles of other homes is the work involved in maintaining the property. Landscaping, irrigation, roof repairs, and exterior maintenance can make weekends feel like more work. In a condo, the HOA should cover all exterior maintenance, trash removal, landscaping, pool service, and more.
Most Homeowners Associations have a reserve fund for capital improvements. These can include permanent structural changes or restoration of some aspect of a property. Such changes should enhance the property’s overall value, or adapt its use for the benefit of residents. This is a huge advantage for condo owners. The Shoreline made sure that even from day 1, they have a healthy reserve fund for unexpected expenses in the future.
One of the biggest perks of upscale condo living are all the amenities. These can include pools, outdoor recreation structures, convenient location and a private gated entrance. Amenities are what can give a community a resort-style atmosphere.
Investing in Your Community
With everyone invested in an equal share of public spaces within the community, and everyone doing their part to protect them, HOAs can provide a strong sense of community. In fact, several surveys have shown that people who participate in an HOA are far happier with their living situation than those who do not.
To learn more about the benefits and amenities that come with upscale condo living, Contact Us.