How many times have you found the perfect house for a buyer only to have the buyer turn down the property because it is in an HOA community? HOA communities are something that many buyers are wary of because they have heard horror stories of overzealous HOAs that have made buyers miserable. Some buyers refuse to even look at a home that is in an HOA community despite the many benefits that living in an HOA neighborhood have. Understanding why people are skeptical about buying into an HOA community can help you ease their fears and show them that HOA communities don’t have to be scary. Check out these three top reasons buyers give for not wanting to buy a home in an HOA community:
Those amenities that are such a great selling point for planned communities do not come without a cost. And depending on how high that cost is new home buyers might not be willing to pay it. While some groups of homebuyers like Baby Boomers don’t’ mind paying high HOA fees in order to get a lot of amenities and services other groups of home buyers, usually families, don’t like paying hundreds of dollars per month in HOA fees for services that they don’t think they will use. Even basic safety features like sidewalks and outdoor lighting aren’t that important to some buyers when those features come with a big price tag.
HOA Rules and Regulations
This is the sticking point for most people who say they do not want to buy a home in an HOA community. They want the freedom to paint their homes, or their doors, or their mailboxes whatever color they want. They do not want their choice of holiday decorations constricted by HOA covenants and they resent what they feel are intrusive regulations. Such regulations can include things like lawn decorations, lawn height, what color flowers and plants can be planted in the yard. Additionally, even more, restrictions are present which can limit their freedom to do what they want with their homes.
Most HOA communities aren’t that restrictive. Unfortunately, the ones that do have over the top covenants are usually the ones that potential homebuyers hear about. In order to get buyers to be open to an HOA community, it is a good idea to go over the rules and restrictions with them beforehand so they have a better idea of what the HOA rules are for a particular community.
Not Enough Freedom
Buying a home gives homebuyers a sense of possibility. They don’t want to feel like their options for their home are restricted. If they want to put up a shed, or turn the garage into a man cave, or choose a unique color for their home it’s important to them to feel like it’s possible for them to do those things without facing the wrath of an HOA. In order to get buyers to be willing to consider a home in an HOA neighborhood point out how beautiful the community looks the way, it is so the buyers will focus on the joys of living in such an attractive neighborhood.
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