Most Consumers Do Not Want an HOA

Homebuying can be stressful.

But imagine your clients finally found their dream home. The only issue is that the property is located in an area with a homeowners associations. How much does it really impact their daily lives?

According to Homeadviser.com, the majority of homeowners (80%) said they would rather not have an HOA and 33% of those who have an HOA said living within an HOA is stressful. Most homeowners (84%) said restrictive policies are the biggest headache, while 83% said the cost of dues and fines and 73% said invasive monitoring were the biggest pains. What are the biggest restrictive policies? Nearly two-thirds (64%) said lawn and holiday decoration limitations, 55% said architectural rules, 53% said pet size and quantity. Half cited home maintenance requirements, 49% said parking restrictions and 39% said number of people residing in the home as the most restrictive.

Around one-third of owners reported breaking an HOA rule, and 66% of those said their punishment was unfair. The most commonly broken rule was lawn and holiday décor (42%), followed by parking restrictions (33%) and home maintenance requirements (27%). More than 30% of homeowners said they were fined for their violation. Nearly three-quarters of homeowners said that overzealous board members are the most annoying part, 71% said invasive behavior from the board or other neighbors and 69% said fines are the most annoying.

Despite complaints, only 13% of homeowners reported trying to leave their HOA. And there are some positive things about living within an HOA. Nearly 60% said an HOA offers improved neighborhood aesthetics.

When working with clients, make sure they know what rules they have to abide by and whether an HOA is a deal breaker.