HOA governs a large number of houses. They provide house maintenance services but at a price. Let us look at the pros and cons of HOA.

When you are about to buy a house in Little River SC, you will likely be contacted by the HOA or Homeowners Association. This is because HOA governs a large number of houses, and you might come across some of them.

Let us take a more in-depth look at what HOA is and how it benefits us.

What Is HOA?

Homeowners Association, mostly referred to as HOA, is an association that takes care of properties. They govern a community and try to develop that community by creating improved housing. They can also build condominiums or even townhouses if the community requires them.

So what is the purpose of HOA? HOA basically creates rules and regulations for the community people to follow. This way, there will be a clean and united atmosphere among the community people. 

But that is not the only thing HOA does. HOA also tends to the management of the properties. You need to pay a fee to HOA because of their house management services. Most expensive condos and houses will have HOA fees attached to them, but you can also find some amazing properties and homes for sale in Little River, SC, with no HOA.

Buying a house governed by HOA has its fair share of advantages and disadvantages, but we will discuss them later. First, let us check how we can pay the HOA fees if we buy a house governed by HOA.

How To Pay HOA Fees?

As HOA handles most of the issues regarding your house, you need to pay them a fee for their service. You have to pay for this even if there is not plenty of maintenance work. 

HOA can later use the money from the fee to upgrade any of the house amenities, so you can have a much more comfortable life. The fees can vary from region to region. The type of property also determines the fee amount. The HOA fee for a single house will not be the same as a condominium.

So how do you pay the fees? Well, there are both online and offline options available to you.

1. Offline Payment

This payment method is quite simple. A staff from HOA comes to your house to collect the monthly HOA fee. You give them the money, and the payment is made.

2. Online Payment

You can also make online payments. You can pay your HOA fees through either credit cards or debit cards. HOA works with either credit card or debit card providers to make the system work. 

By working with the card processing providers, the HOAs can accept the payment through the credit or debit cards of the homeowners.

The Consequences Of Not Paying The HOA Fees

If you live in a property governed by HOA, you have to pay it on due time. Those who fail to pay HOA fees will suffer repercussions, and there are several penalties for them, but these penalties vary in different places. 

It all basically depends on the contract between the current homeowner and HOA. The agreement contains information regarding the various penalties the homeowner will receive.

For instance, some areas will charge the homeowner with late fines if they fail to provide HOA fees. The fine will be based on how many days the homeowner spent without paying the fees.

In other areas, the HOA will hold the house lien until the homeowner can clear the HOA fees. If the homeowner still cannot pay the HOA fees, HOA can legally file a lawsuit against them.

HOA uses the fees to develop the community and the household. 

Without the fees, they will not have enough money to spend on development. So they will increase the fee amount for the other community members. This will put you in a tight spot not only financially but also socially.

It is always wise to pay the HOA fees in time. Otherwise, the problem might snowball and cause severe consequences.

The Advantages & Disadvantages Of HOA

HOA might seem like trouble to some, but others find the services of HOA to be quite satisfying. But does that mean one is right, and the other is wrong? Not really. Technically, they are both right. HOA has both advantages and disadvantages when you are living in Little River.

Let’s have a look at the pros and cons of HOA.

The Pros Of HOA

1. You Will Have A Cleaner Property

One of the many services of HOA is that they will keep your property clean. If there is too much dust, dirt, snow, leaves, or anything, HOA will take care of it. If your lawn has become dirty or needs remodeling, HOA can do that for you too.

They will also take care of your lawn and maintain it almost every day.

2. HOA Can Redecorate Your House

Not only will HOA be cleaning your property, but they can also remodel it with the latest designs and furniture. If your kitchen sink, cabinet, bathroom faucets, showers are getting lumpy and losing their aesthetics, HOA will replace them with newer and prettier ones.

They can also repaint your whole house for you if you feel that your house is losing its glossy look. 

If the interior of your house needs a new design, HOA can help with that as well. You do not need to think about the beauty and aesthetics of your house because HOA will do it for you.

3. They Will Provide Pest Control

Homeowners may have their houses infested with pests such as rats, mongoose, etc. There will also be various insects, such as cockroaches, spiders, crickets, etc. Normally, you would need to hire pest control professionals to get rid of these pests and insects. 

However, if your property is in the community governed by HOA, you hardly need to worry about it. Just report it to HOA officials, and they will take care of the issue.

4. Increases The Value Of Your House

Since your house is always in top condition, it will have a high value on the market if you wish to sell it. Not only that, but it will also have the latest amenities and facilities like advanced electricity and water systems. 

This will make the buyers more interested in buying your property in Little River. This is a significant benefit of HOA.

5. HOA-Governed Houses Have Better Facilities

In the previous point, we said that HOA-governed houses in Little River have the latest amenities and facilities. But what are these amenities?

Anything you want, really. It can be a golf course, a bar, a sports room, gym, tennis court, swimming pool, and much more. Anything you wish can be made real through the services of HOA. 

So, if you really want a small bar in your house where you can hang out with your friends or a tennis court to have a friendly tennis match with your neighbor, HOA can make it possible for you.

  1. Take Advantage Of HOA Management Tools

One of the biggest advantages of HOA is its useful online tools, making the lives of residents and home sellers and buyers a lot easier. Property owners can check HOA websites to take advantage of the available management tools. An HOA website has a calendar, event listings, and other features to improve communication and address problems. 

HOA websites are the best platform for residents and community officers to interact and get a good overview of the existing and potential problems. For instance, the community board can invite visitors, tackle, and create budgets seamlessly using this platform. Furthermore, residents can pay dues through the HOA website, saving them time and effort.

We have discussed multiple advantages. Now let us look at some of the disadvantages.

The Cons Of HOA

1. The Fees Can Be Exorbitant

The more services you desire, the more you need to pay. The fees also depend on which area you are living in. According to research done by Clarke and Freedman, the average HOA fee for a single-family house can be $2,800. 

And if the house is a condominium, the price will be even higher. If you want additional services and amenities, the price will gradually increase as well.

2. You Need To Follow Strict Guidelines

If you wish to live in a property governed by HOA in Little River SC, you need to follow the rules and regulations set by them. Normally, these rules and regulations are written in the contract. Violating these laws could have severe penalties.

Some common rules include-

  • Fixed color pallets for exterior use. You cannot use any color that is not approved by HOA.
  • You need to keep your pet on a leash.
  • Do not keep a garbage can in the view of the public.
  • Do not leave sports equipment outdoors after certain hours.
  • The driveway and the sidewalk must always be clean.
  1. More Difficult To Move

Belonging to a homeowners association involves community privileges and responsibilities. The process of moving out of an HOA can be lengthier as property buyers and sellers need to settle more things. For instance, both parties must ensure that their HOA membership is updated, requiring approvals and associated fees. In addition, the property seller should pay penalties and settle pending complaints, if any. Otherwise, the buyer or new property owners will need to take care of it or refuse the deal altogether.

Final Thoughts

Everything has its advantages and disadvantages. So does HOA. So if you really want to buy a property governed by HOA in Little River SC, you need to make a decision after considering both pros and cons thoroughly. 

If you feel that the advantages are much more for you, and you are not bothered by the disadvantages, you should consider buying a house maintained by HOA.