Why Should You Consider Real Estate Properties Without HOA?
Buckeye family homes typically sell for $470,00 and stay on the market for 33 days. Arizona has 9,675 homeowners organizations, many of which are centered in Buckeye, the fastest-growing American city.
A significant portion of these properties is also governed by one of the numerous Homeowners Associations. While dues might vary depending on several variables, the typical Buckeye HOA dues range from $200 to $300. But remember, more affluent areas may charge up to $1,000 monthly payments.
If you do not like the thought of such high maintenance charges, you must look into various homes for sale in Buckeye with no HOA.
HOAs offer various perks but, at the same time, can be restrictive to a particular type of property investor. This post will delve into multiple nuances associated with HOAs, which will help you decide on your next real estate purchase in Buckeye.
What Does A Homeowners Association Do?
A planned neighborhood, such as a condominium, single-family community, or townhouses, is governed by an HOA.
Anyone who has ever lived in a rental home in Buckeye should think of an HOA similar to a property manager or landlord: a company that takes care of specific aspects to preserve the neighborhood and ambiance in exchange for a fee—and your adherence to particular rules.
What Are The Limitations That Come With A Home Under HOA?
Undoubtedly, HOAs make certain aspects of house owning hassle-free, like regular maintenance, community helpline, etc., but all of the perks come at a cost.
Hence, here are some rules that come with owning a property that falls under such associations:
- Rules You Might Need to Follow
Following Buckeye HOA’s guidelines generally relates to constrained personalization. You might not mind adhering to a list of acceptable paint colors or restrictions on the number of cars you can park per driveway, but some associations have restrictions like:
- The size and manner in which a “For Sale” or “For Rent” sign must be displayed.
- The number of pets you are allowed to own.
- The styles of window treatments on the street-facing windows.
- What kind of sprinkler system or fertilizer you can use.
- Monthly Fees:
Mandatory HOA fees, often known as dues, can be pricey depending on the neighborhood and what is included in the fees. According to survey findings, Buckeye single-family homes pay HOA dues on average of $3000 annually.
These fees cover maintenance and upkeep costs, the wages of the HOA’s personnel, and funds for a rainy day, often used for unanticipated expenses and emergencies like a hurricane, flood, or fire.
Final Thoughts
Homeowners Associations certainly bring a sense of security and belongingness to a residential complex, but it comes at the cost of personal freedom and monthly association fees.
If you do not like a curb on your freedom, you should only seek homes for sale in Buckeye with no HOA. Since many residential properties fall under one of the many neighborhood associations, contacting a reputed real estate agent who can direct you towards many outstanding properties that do not fall under any HOA’s purview is advisable. Doing so can protect your freedom and help you save a chunk of cash yearly.
