When buying a home, you're likely thinking about mortgage rates, home prices, your down payment, and maybe even closing costs. But there’s another factor to consider that could enhance your living experience—homeowners association (HOA) fees. While not every property has them, understanding what they are and what they offer could help you find a home that aligns perfectly with your lifestyle.

An HOA is an organization that manages a residential community, including shared spaces and neighborhood standards. It sets and enforces rules for upkeep and common areas. While some buyers may initially see HOA fees as an added cost, others appreciate the convenience and advantages that come with them. Ultimately, it's about weighing the value of the services provided.

The Advantages of Living in an HOA Community

Consider why a neighborhood may look especially well-kept—manicured lawns, clean streets, and appealing curb appeal. Often, these are signs of a well-managed HOA. Here are some of the biggest advantages:

Neighborhood Maintenance: HOAs frequently handle tasks like landscaping, snow removal, and general upkeep of shared areas. This consistent care helps maintain a polished community appearance.

Amenities: HOA communities often provide access to amenities such as swimming pools, clubhouses, fitness centers, or private security. These benefits can save you costs elsewhere—for example, no need to pay for a separate gym or pool membership.

Property Value Protection: Because HOAs enforce rules to maintain neighborhood standards, you’re less likely to see nearby properties fall into disrepair. This helps protect your home’s value in the long run.

Reduced Personal Maintenance: In some neighborhoods, the HOA will take care of exterior maintenance or shared building repairs. That means fewer responsibilities for homeowners and more time to enjoy your home.

Why HOA Fees Are Becoming More Common

Not every home has HOA fees, but they’re increasingly common—especially in newer developments. In fact, over 80% of newly built single-family homes are now part of an HOA, according to the Wall Street Journal.

But HOAs aren't limited to new builds. Many existing homes also fall under HOA management. Per data from Axios, around 4 in 10 homes had an HOA in 2024.

Understanding HOA Costs in Your Home Search

As you navigate your home search, be sure to ask your real estate agent which properties include HOA fees and how much they are. HOA dues can vary significantly—some are monthly, others are quarterly, and some homes may not have any fees at all. For context, the median HOA fee rose to $125 per month last year, according to Realtor.com.

Still, these fees might offer excellent value depending on what they provide. Danielle Hale, Chief Economist at Realtor.com, advises:

"When considering a home with an HOA, buyers should work to understand what benefits it provides like maintenance, security, or communal amenities, and how the HOA fees factor into their overall budget."

Bottom Line

When exploring homes with HOA fees, take time to review what’s included, how it impacts your budget, and whether the benefits match your priorities. Whether you're drawn to the convenience and amenities or prefer more autonomy, understanding HOA structures will help you make a smarter homebuying decision.

Would you prefer to pay an HOA fee for added community perks, or skip it in favor of more personal freedom? Reach out to Mike Panza and the experienced team at Panza Home Group to explore your options and find a home that’s right for you. For more info, visit: https://panzarealestate.com/team/mike-panza