Pros and Cons of HOA’s
Homebuyers are often hard-pressed to find a neighborhood within the most popular areas of Naples and Southwest Florida that doesn’t operate under a Homeowners Association, or HOA. This is particularly true if you plan to buy a home within a gated community. HOA’s have become common due to their ability to regulate the quality of living within the neighborhood and cut down on maintenance costs through a communal fee.
The perks that come along with HOA communities can be valuable to homeowners looking for certain amenities, such as gated access, community gyms, pools, and neighborhood regulated lawn care. However, some homeowners are looking for a little more freedom. The kind that comes with an HOA-free location.
The great news is that both HOA and non-HOA building options are available in Southwest Florida! In fact, Kaye Lifestyle Homes offers site options for both when you choose to build your home with us. But first you’ll want to explore the pros and cons of an HOA regulated neighborhood so you can decide which option is best for you.
What is an HOA?
An HOA is an association that establishes, regulates, and enforces rules for your neighborhood and community. These rules can cover a wide range of things, including what you can or cannot plant in your yard, the design and even color of your home, noise regulations, and community amenities.
However, beyond that they also help pay for the general maintenance of home exteriors, common areas, and even landscaping. The average cost to maintain an HOA in Naples is between $300 to $500 a month, although some HOA’s lump this fee into one annual payment. A few examples of maintenance an HOA may be responsible for are:
- Gym or Fitness Areas
- Tennis Courts
- Security Gates
- Parking Garages
- And More…
What an HOA expects from those living in the community may vary from association to association, but it will all be detailed in a document known as the CC&R. CC&R stands for “Covenants, Conditions, and Restrictions” and can legally be enforced by fining those who do not comply with the stated rules.
Comparing HOA’s and Non-HOA’s
Ultimately, an HOA is designed to protect the wellbeing of the community as a whole while maintaining a common standard. However, these benefits do not come without homeowners sacrificing an extent of their personal rights.
When you agree to comply with a homeowners association, you give that association the right to govern the behavior of the community. If you aren’t the type of individual who likes to be told how to manage your property, you may be signing yourself up for a bad experience. Instead, you may want to consider a non-HOA community.
Non-HOA regulated home sites will offer a homebuyer more freedom to do things such as build a guest home, install fencing, create a custom landscape without regulation, etc. They also tend to offer larger lots for those who value their privacy. It’s more liberating, but it does lack the amenities of an HOA, so you’ll want to weigh what benefits are most important to you.
If you find yourself considering buying or building a home within an HOA community, the key to a good experience is to find a well managed HOA. Do your research before you buy a home to make sure the HOA is best for your needs and standards.
Start with reading through the HOA rules. You’ll want to make sure the home you are purchasing is already in compliance. Also, assess how the fees are set and review any past conflicts to understand what they were and how the association addressed them.
Also, you want to make sure that the HOA has a strong financial stability. You may find an attractive home with all of the amenities you could desire, but if the HOA budget isn’t stable, you may find yourself stuck with assessments. HOA’s are worthwhile so long as they are operated properly and you take advantage of the amenities they provide.
If you decide after thoroughly considering your options that you prefer a Southwest Florida home on a lot that isn’t HOA regulated, there are still plenty of options available. Kaye Lifestyle Homes has a selection of lovely home sites available that are located near some of the area’s most attractive locations.
Exploring Non-HOA Site Options in Florida
You don’t have to sacrifice location or convenience in order to find a great non-HOA site to build your home. In fact, Kaye Lifestyle Homes offers homesite locations across both Collier and Lee counties.
Browse a variety of options and enjoy the freedom of building the home that you want without having to adapt to HOA restrictions. You’ll save hundreds of dollars a month that usually go toward HOA amenities and operation, or you can reinvest that money into a larger home with more features.
The best way to find exactly what you’re looking for is to call us at 239-434-KAYE (5293) and talk to one of our New Home Counselors. We make your dream home easy to achieve. From finding a location to financing and building your home, we work with you every step of the way.
Give us a call now to learn more about the home buying opportunities we have available. With homes starting at below $200k and ranging up to $1 million, we have a selection available for every budget, so why not reach out today?