A huge chunk of the American population is now living in community associations. We see this number grow year after year. Undeniably, there are many great reasons people choose to find their homes in these communities.
According to the 2016 National and State Statistical Review for Community Association Data, 21 percent of the nation resides in community associations.
This report by the Foundation for Community Association Research claims that there are over 345,000 to 347,000 community associations throughout the country. Homeowners’ associations comprise 51 to 55 percent of the total number of community associations. Condominiums account for 44 to 45 percent, while the remaining 3 to 4 percent are housing cooperatives.
Community associations give people a sense of belongingness. Community Association Institute CEO Thomas M. Skiba said, “By their inherent nature, community associations bring people together, strengthen neighborhood bonds, and promote a sense of community and belonging.”
Among all states, Florida leads with the most number of associations at 47,900. Coming in second is the Golden State. California has 45,400 communities. Completing the five highest are Texas, North Carolina, and New York.Find the best mortgage rates, click here.
There are many positive attributes to living within an association. These benefits make it more attractive to those who are also looking for new homes.
Homeownership is not only about looking for the perfect house, it is also about finding the right neighborhood.
Here are five great reasonswhy you should start looking for a home within a community association.
Thomas Skiba mentioned that this is one attribute of associations that cannot be overlooked. Community associations promote strong neighborhood bonds and bring people together.
A community of people sharing the same love and pride for their neighborhood not only aims to improve their own quality of life but that of the whole community as well.
The association’s board has the authority to impose rules and regulations which aim to enhance the residents’ lives. These management solutions are set in place not only to better the lives of its constituents but also to improve and maintain the neighborhood’s overall beauty and property values.
You can try driving around and checking out the community yourself. Homes within associations are kept clean and modest. This helps maintain or add to the value of the properties in the community. If it were a private home outside a community association, you’re at the mercy of your local government when it comes to imposing such guidelines.
Dealing with Nuisances
Are you worried about your neighbor’s music playing at ear-popping decibels in the middle of the night? How about the stinky garbage that wasn’t collected for a week? Tired of having to shovel snow after that huge snowstorm?
Living in a community association, you no longer have to worry about these nuisances. The community management takes care of these things for you with its guidelines and services. These may include snow removal, road maintenance and garbage collection among others. This is where your association fees go. It ensures that services are provided to the residents in a timely manner.Connect with a lender, click here.
Maintaining Property Values
Your immediate neighborhood affects your property’s value. You may have the prettiest house on the hill, but if all the other properties nearby are run down and under-maintained, this will make your home value plummet.
Again, the association management imposes guidelines to ensure that homes are kept in great shape and to protect the value of the houses in the community.
Last but definitely not the least are the community amenities. While not all associations have swimming pools, clubhouses or golf courses, most of them have recreational parks, walking trails, multi-purpose areas, and other amenities. These are benefits and perks for members of the homeowners association or condominium community.
Moreover, amenities aren’t just limited to recreational comforts alone. Some associations offer services to maintain the property as part of the features to attract new homeowners. These features and services are there so you can live a more pleasantly.
These five qualities of a community association are just the tip of the iceberg. You will only begin to see its wide spectrum of benefits once you get to live within one yourself.
A community association offers diversity when it comes to homeownership options. 21 percent of the population already know what it’s like living in a great neighborhood. Find a community you can truly belong to. Start the hunt today!Click to See the Latest Mortgage Rates»