Most Consumers Do Not Want an HOA
By Kelly Leighton | Oct. 5, 2022 | 2 min. read
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.
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