HOA Dues are Actually Cheaper than the Alternative
They Save Money & Time in the Long Run
Although cutting that check monthly might sting a little in the short run, when pooled with your neighbors' share, your HOA dues actually buy substantially discounted services, maintenance and improvements that you likely wouldn't receive if you were left to fend for yourself. Some areas in your community that likely benefit from the substantial sum of you and your neighbors' assets include:
General Maintenance
Can you imagine soliciting landscape services, pest control, repairs, general cleaning and all the rest on your own? Providers of these services love large community contracts and often discount their work because of the size, scope and regularity that a community contract can offer. Plus, your HOA likely shops around for these services or solicits bids.
Communal Amenities
Want to go swimming? How about play tennis? Well, you can price out the cost of building a pool or a tennis court or you can chip in and use the community amenities that your monthly dues help pay for. From clubhouses and hot tubs to weight rooms and boat docks, it's a whole lot less expensive to share the many building, repair and maintenance costs involved than to pay for large scale amenities without help.
Improved Resale
Statistics reflect that homes that rely on individuals for their maintenance, repairs and improvements often return a lower resale because of the hit-or-miss quality of those services and the inconsistency with which they're rendered. Rarely in a community with an HOA do necessary repairs and maintenance items stand unaddressed for very long. Plus, one of the many jobs of your HOA is to source capable professionals, and keep them on task, on time and on their game of providing top quality.
While your next HOA payment will no doubt cost the same as before reading this article, we hope thinking about it in these terms might make it seem a little more reasonable.
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