02/04/2025
One of the most common things I hear from buyers is they donāt want someone telling them what they can or canāt do with their home.
āWhy should I have to ask permission? Itās my houseā
āWhy would I want to pay money each month for HOA when I could pay for a bigger house?ā
I have buyers tell me, āwell, I donāt want anyone telling me what to doā¦. But I do wish my neighbors would do what I want them to doā. This includes putting away Christmas decorations in a timely fashion so you donāt see them outside your window in September.
Yes, Itās another level of bureaucracy no one wants to deal with, I totally get that. The truth is, HOA communities help protect the value of your home so this ā¬ļø(pictured above) doesnāt happen next to your house. No matter what type of upgrades you have, you limit your buyer pool when it comes time to sell your home as not everyone wants to live next to this. However, having an HOA also means there are also added costs.
HOAās are the highest in condo complexes when there are many shared maintenance and resources. This can include security, gym, pool, exterior maintenance, roofs, storage, parking, landscaping, snow removal etc. I have seen as high as $800/ month in Denver.
Many first-time buyers want single family homes but can sometimes overlook the fact that HOA communities can help cover exterior maintenance costs which can really add up!
For single family communities, HOAās are much lower, and in my community is less than $200/ month. Homeowners are responsible for their own home maintenance, and while we pay for some shared resources like a community center and maintenance within the community, it also sponsors lifestyle events like concerts, summer kick-off events at the pool, Easter Egg Hunts and Christmas events. It can be a great way to stay connected in the neighborhood and meet new people.
Whether you are looking to buy for the first time, upgrade or relocate, consider keeping an open mind. Discuss lifestyle options with your realtor as these can be added benefits to certain communities when you start your home search!