Homeowners Associations Quickly Becoming the Bane of U.S. Homeownership



One of the sought-after milestones of adulthood is moving into your dream home. But what if you find yourself entangled in a web of unexpected fees, stringent rules, and legal battles?

This is the reality for many homeowners living under Homeowners Associations (HOAs) governance.

The Rise of Hoas

HOAs have become increasingly common, particularly in new constructions. Rooted in the desire of local governments to offload responsibilities like maintenance and community services, these associations are seen as a value-add for homeowners.

The Power & Price of Hoa Living

HOAs are run by boards of volunteer property owners and often hire for-profit management companies for day-to-day operations.

An HOA Ordeal

The Inostroza family’s experience in Newnan, Georgia, exemplifies the darker side of HOAs. Their annual dues seemed manageable at $200, but they soon found themselves saddled with a previous owner’s unpaid fines and escalating late fees.

The Impact on Property Values & Community Life

HOAs often justify their existence and fees by claiming to protect and enhance property values. Studies show mixed results: some find HOA homes worth more, while others see no significant difference.

Swipe up to read the full article.