If you are moving into a new neighborhood, you may have several questions on your mind: what’s the area like? How close are your neighbors? Is there a grocery store nearby? Is there an HOA—and more importantly, what is an HOA?
A Homeowners Association, also called an HOA, is an organization that creates and enforces rules within a neighborhood for the benefit of property owners and residents. These rules are set with the intention of fostering a well-maintained, aesthetically pleasing, and orderly community. At Harpeth Valley Homes, we are proud to share that all of our single-family homes and townhomes belong to HOAs.
The Benefits & Disadvantages of Living in an HOA Community
Living in an HOA community comes with both benefits and disadvantages, like many other factors in the home-buying process.
HOA Community Benefits
HOAs can bring in a multitude of amenities that are not usually available in other neighborhoods. For example, walking trails, swimming pools, playgrounds, and clubhouses can be found in many HOA communities. Additionally, HOAs generally take care of community services, like common-area landscaping and maintenance, security services, and more.
Disadvantages of an HOA
HOAs are not without their downsides. Living in an HOA involves a monthly fee that is not optional, whether or not you utilize the amenities they provide. Additionally, HOAs often have rules and regulations based on property appearance, modification, and more. Violations of these rules can result in fines or other penalties. Rues, regulations, and penalties are decided upon by the HOA board. If you are not a member of your HOA board, you will have limited say in what rules and regulations are set.
HOA Fees & What They Cover
Fees are required from residents within an HOA community. These fees can sometimes cover a variety of items, including repairs and maintenance of common areas, additional amenities, management fees, reserve funds, security, and more. Not every HOA covers all these things. While these fees often contribute to the greater good of a community, some individuals may not agree with how they are being spent.
Depending on your neighborhood, HOA fees may range from $50 to over $200 a month, as often townhome neighborhoods even include exterior maintenance and an individual’s landscaping maintenance. This is an important expense to consider on top of your mortgage and utility payments during your home-buying experience.
Getting Involved with Your HOA
A great way to feel more integrated into your community and to have more control over the decisions of your HOA is to get involved with it. Homeowners within an HOA can attend board meetings, join committees, volunteer for community events, or even run for a position on the HOA board. By joining your HOA, you can help create a community that you are proud of and love to live in.
Tennessee HOA Laws
Homeowner associations in Tennessee are primarily governed by two state-specific acts: the Tennessee Homeowners Associations Act and the Tennessee Horizontal Property Act. The former provides detailed regulations for the establishment of an HOA, in addition to rules for how to manage common areas, enforce rules on its members, and conduct meetings. It also outlines the rights and responsibilities of the association and its members. The latter only applies to condominium associations and their management. HOAs are also subject to national regulations, like the Fair Housing Act.
Find Your Dream New Build Home in an HOA
Harpeth Valley Homes offers new-build, single-family homes and townhomes in the Nashville, TN area. From elegant townhomes in West Nashville to beautiful East Nashville homes, Harpeth Valley is happy to help you find the home of your dreams. Give us a call at 615-436-5854 to start your home-buying journey or join our VIP list to get updates on all things HVH—special offers, grand openings, and more!
