In the United States, millions of people live in complexes or communities governed by a Homeowners Association (HOA). A HOA is a corporation typically formed by a real estate developer so that they can manage the sales of real estate in a residential subdivision. Many Palm Springs homes for sale and property in Palm Desert falls under this category, so we thought our readers might appreciate learning about the benefits living in this type of community brings.
An HOA provides developers with privileged voting rights to govern the association while marketing and selling the homes or lots. Once they sell a predetermined number of lots, they are relieved of financial and legal responsibility of the organization and can then transfer it to the HOA. In most communities governed by a HOA, membership is required as a condition of purchase.
Much research indicates that many people enjoy living in communities governed by an HOA. We’ve seen it over and over again among buyers of property in Palm Desert as well, so we asked some experts why they thought homeowners enjoyed living in HOA communities so much. Here are the top 3 reasons they gave:
1. HOAs create communities. When you live in a community governed by an HOA, you know that every resident has agreed to certain rules and regulations, so there are no grey areas, which removes stress between neighbors. In addition, many HOAs coordinate mixers and other events so that you can get to know your neighbors and have an opportunity to bond.
2. HOAs protect and boost property values. The main goal of HOAs is to protect the value of each individual homeowner’s property, through establishing rules and regulations and setting standards regarding the community aesthetic. In addition, HOAs ensure that maintenance of the neighborhood is up to par, as well as each individual homeowner’s house and lawn. Maintaining the community as a whole ensures that everyone’s property retains its value.
3. The amenities. HOAs provide and maintain amenities and important services, such as security. In addition, recreational facilities fall under the HOA’s responsibilities, including a clubhouse, gym, dog park, tennis court, gated entry, Jacuzzis and swimming pools, which are highly desired amenities among those seeking Palm Springs homes for sale.
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