Buying a Home With No HOA: A Beginner’s Guide
Homeowners Association (HOA) is a hot topic in the real estate segment. It is not essential whether you are going for a property investment or primary residence; the decision should be cautiously made.
The Buckeye homes for sale with pool have recently attracted a lot of buyers. There have been a considerable number of home listings with no HOA. The article will help in understanding how it can affect property values. However, first, it is essential to understand what an HOA is.
What is an HOA?
A homeowners association is responsible for enforcing rules on a specific subdivision or community. Elected members usually lead these associations and collect monthly or yearly payments for the residents. They have several responsibilities ranging from property maintenance to checking property values. Some tasks include maintaining shared spaces like the tennis court, parking structures, etc.
Advantages of Homes With No HOA
Buckeye homes for sale with a pool are becoming very popular. Having a house with a pool and without HOA sounds like a great combination. One can get a house in Buckeye, Arizona, with no HOA for $ 375,000. The home appreciation in the last ten years has been 7.9%. Now, it is essential to understand the advantages that come with such a property.
- The issue of parking cars is huge with homes with HOA. It might have rules and regulations regarding parking. But when it comes to homes with no HOA, there is no such restriction, and one can do things much more freely.
- If you love to have pets around, a house with HOA should not be on your mind. Most HOAs have restrictions in terms of dog size and number. In such a scenario, a house with no HOA sounds like a more suitable option.
- People who work from home or have a home-based business might need to reconsider a home with such an association. They may need to get approval from the HOA to run their business from home.
Owning a home that is not under the restriction of an HOA brings much more freedom. You can paint it as you desire or operate the business as per convenience. However, it is vital to look at the surroundings to make a more informed decision.
Pros of Homes with Pool
- Swimming is the best source of exercise for both children and adults. An attached pool gives you 24*7 access, so you can swim at any time, be it for leisure or exercise. You can also host parties in your backyard, and give your friends, colleagues and family free access to your pool.
- A pool also contributes highly to the property value. A prospect is more likely to get attracted to a home with a pool than to one without one. The resale appeal goes up significantly.
- Planning relaxation and fun activities become way more manageable when you have a pool attached to your house. Some people may consider it a luxury, but a pool is necessary for many.
Buckeye has been ranked amongst the top 10 fastest-growing cities in the US. With a low cost of living, the city has attracted many settlers. It has properties on various scales, ranging from tiny, economical homes, to spacious, lavish ones.
Therefore, one can take a call based on the requirement. Buckeye homes with pools can be considered a luxury, but when you take the assistance of a real estate professional, you may be able to find the best deals. The agents will also have a better understanding of the market and offer advice to help you make the right decision.