Homeowners Associations (HOAs) are quite common in many West Knoxville neighborhoods. Neighborhoods with homeowners associations (HOAs) can vary in what they do and what rules they have. If you’re thinking about buying a West Knoxville home this year, it is important that you have an understanding of homeowners associations, so that you can decide if a homeowners association is right for you. Here is a brief explanation of what a homeowner association is, as well as some pros and cons to help you decide if an HOA community is right for you.
An HOA is made up of everyone that lives in that particular neighborhood. From that neighborhood, a group is elected to help uphold the rules of the neighborhood. The rules for each neighborhood are outlined in something called the Bylaws or in the Covenants, Conditions, and Restrictions (CC&R). The Bylaws or CC&Rs cover things like use for common property elements, parking rules, pet restrictions, restrictions on what color you can paint your house, among many other things.
Homeowners associations can be good for many reasons. Here are a few benefits of living in a West Knoxville neighborhood with an HOA:
-Homeowners associations can set a standard for the look of the neighborhood. They can help maintain your West Knoxville home’s value, by preventing neighbors from doing certain things, like parking an RV in the street or putting up an unsightly fence.
-HOAs can also set as standard for how lawns are maintained, which means most HOA communities are well maintained.
-HOA dues will help cover the maintenance of common areas in your neighborhood, including community pools, front entrances, among other places.
-HOAs can even help settle a dispute between neighbors. If you neighbor hasn’t mowed his lawn in over a month and it is against your community bylaws, your HOA can help settle the dispute.
-In some HOA communities, residents enjoy maintenance free living. The HOA takes care of mowing and maintaining every resident’s yard.
For some buyers, though, HOAs can be too restrictive and are unappealing. Here are a few downsides of living in a West Knoxville neighborhood with an HOA:
-Most HOAs are mandatory, which means if you live in the neighborhood, you are required to pay HOA dues. If not, some HOAs have the power to put a lien on the property if dues are delinquent.
-Some HOAs can be extremely restrictive on the appearance of each home. It may dictate if you are able to fence your yard, the color of your home, among other things.
-Some HOAs can even dictate what kind of animals you may have.
-Residents of the HOA can be fined if they do something that is against the HOA regulations.
Some HOAs have very strict rules, while others are not very strict. Since HOA rules can cover a range of things, it can be important to check out the Bylaw or CC&Rs before buying a West Knoxville home.
Are you thinking about buying a West Knoxville this year? Please let us know if there is anyway that Knoxville Home Team can assist you. Rick can be reached at 865-696-9002 or via email at [email protected]. Kati can be reached at [email protected]. Also, be sure to check out our West Knoxville Home Search Page.