Coming Home Magazine

Coming Home Magazine Fall Winter 2021

Issue link: https://www.cominghomemag.com/i/1427282

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31 M Y T H : ALL BOARD MEMBERS DO IS CREATE AND ENFORCE RULES. FAC T: A completely voluntary role, a board member is also a homeowner in the community. That means it's in their best interest to use their position for the good of the association. Setting and maintaining the rules is an important duty, but the board is responsible for several other aspects of the community, such as: • Supporting a safe and orderly neighborhood. • Directing all official business, like managing relationships and running meetings. • Maintaining essential records, including meeting minutes and governing documents. • Overseeing all things financial, including reserve accounts, budgets, and accounting. M Y T H : HOAS AREN'T SUITED FOR YOUNGER HOMEBUYERS. FAC T: Many of today's HOAs are forward-thinking. As homebuyer demographics shift, communities are adapting to the wants and needs of future residents. With millennials entering the buying market at an increasing rate, more and more communities are offering added experience-based amenities, like upgraded pools and large playgrounds, investing in technology, getting social, and going green. M Y T H : THERE ARE TOO MANY HIDDEN FEES. FAC T: HOAs generate their operating funds by collecting fees and assessments from members. This money allows the HOA to carry out its responsibilities, including preserving shared spaces, saving for future repairs and improvements, and enforcing community guidelines. Before you buy a home that's part of an HOA, make sure you're familiar with any fees. You'll need to decide for yourself if these fees are worth it. M Y T H : THE RULES AND REGULATIONS ARE TOO STRICT. FAC T: A well-run HOA provides the proper framework for a great community living experience. Established rules and regulations are designed to promote harmony and prevent problems like loud music, barking dogs, and neglected lawns before they become a real issue. They also give guidance on the usage of common spaces, meeting areas, and activity centers so members have equal opportunities to come together and socialize. M Y T H : YOU'RE NOT ALLOWED TO MAKE UPGRADES OR CHANGES TO YOUR HOME. FAC T: One of the main reasons people buy in a community with an HOA is the consistent property values. Well, these properties maintain their value thanks to compliance with the association's architectural standards. But homeowners can—and do—change the appearance of their homes. Depending on the association, you submit an architectural request for any modifications you'd like to make to the exterior of your home. An architectural review board then takes a look at your request and communicates with you until they approve or reject the proposal. M Y T H : NEIGHBORS DON'T LOOK OUT FOR ONE ANOTHER. FAC T: The biggest emotional benefit of an HOA is a real sense of unity. Whether it's a condominium or a master-planned community, you, your neighbors, and your management team are in it together. This benefit can be especially crucial for people who don't have relatives close by, as neighbors often become their chosen family. Additionally, those who live within a community often have similar lifestyles, which helps build camaraderie. M Y T H : RESIDENTS DON'T HAVE A VOICE. FAC T: From barbecues to board meetings, there are plenty of opportunities for neighbors to meet each other, create personal bonds, and do good for their community. An HOA is designed to foster engagement in fun activities and association duties, but it's the board's responsibility to encourage involvement and offer open lines of communication with residents. One of the best ways to get involved is to join the board, but you can also make your voice heard by attending meetings and joining committees.

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