The Growing Popularity of HOAs
The Growing Popularity of HOAs
For some, Homeowners Associations (HOA’s) represent oppression and restrictions of personal freedoms when it comes to their housing. It seems not a week passes when we don’t read a story about an HOA that appears to be over-reaching in its control of a community. They have forced residents to take down flags, mow their lawns to certain lengths, and have even stopped children from selling lemonade from front yard stands. There is even a popular commercial poking fun at how meticulous some associations can be.
The reality is, however, that HOA’s and community associations are an increasing part of the way we live in America. It is estimated that about 25% of homeowners live in an association managed community. Perhaps more significantly, in 2019, about 75% of new construction was occurring in managed communities. The trend is clear. Homeowners and community associations are becoming more common.
Why the popularity?
Well, in spite of the negative press and perhaps over-reaching by some HOA’s, most residents like living in communities that ensure property owners keep their properties well maintained. It protects property values and aesthetics of a neighborhood. It appears residents enjoy having a resource to address neighbor and neighborhood issues like unruly parties, large commercial vehicles parked in driveways, purple or pink painted houses or dogs roaming the streets.
HOA’s are also a bit more flexible and varied than in the past. While many HOA’s charge fees into the hundreds of dollars per month and provide a variety of amenities with almost unlimited power, some communities have smaller, less expensive HOA’s with limited restrictions.
Perhaps, HOA’s are a passive/aggressive way to handle potential problems with neighbors. They sometimes serve as the adults in the room.
No matter the reason, HOA’s are not only here to stay but are growing in acceptance and even popularity. They can provide protection for a homeowner’s investment, maintenance services and consistency through a community. They also provide an outlet to call should a neighbor paint his garage door day-glo lime.
Many HOA’s have guidelines and even regulations regarding the amount of homeowners’ insurance a resident should carry. Are you in compliance? Contact one of our independent home insurance agents today to review your HOA covenants and your policy. Make sure you have the necessary coverage for your home and your community.
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search All Blogs
Search All Blogs
Read More Blogs
Road Trip Through History: The Unexpected Story of the Interstate Highway System
From nuclear war to family road trips, the Interstate Highway System’s history is more surprising than you think
Independent Spirit, Independent Insurance: Why Your Business Needs an Independent Agent
Ditch the Captive Agent! Why Independent Insurance Agents are Your Business’s Best Superhero
Beyond the Funeral: 9 Reasons Why You Need More Life Insurance Than You Think
Life Insurance: Not Just for Buryin’! Unexpected Costs You Never Knew Were Covered
New Car, New Coverage? Navigating the Wild World of Auto Insurance
New Car? Don’t Get Stuck on the Side of the Road with Bad Insurance!
Renters Insurance: Your Secret Weapon Against Disaster (and Burglars!)
Beyond Broken Leases: Why Renters Insurance is Your Best Friend (and How to Get a Great Deal)
Flappers, Flights & Fizzy Fridays: The Roaring Twenties You Never Knew
Dive into the 1920s beyond the speakeasies! Explore the decade’s social shifts, technological marvels, and surprising connections to modern times.
Bundle Up and Save! The Ins and Outs of Business Insurance
Unsure about business insurance? Don’t be! Learn how bundling different coverages protects your company and puts money back in your pocket.
Life Insurance Myths Busted: Unveiling the Simple Truths Behind Financial Security
Considering life insurance but confused by the myths? We clear the air on common misconceptions and show you how to get simple, affordable coverage.
Buckle Up for Savings: How Car Safety Ratings Save You Money
Crash Test Your Cash Flow: How Car Safety Ratings Impact Insurance Rates
Pool Paradise or Premium Pain? The Splashing Truth About Pool Insurance
Dive into Savings: How Pools Affect Homeowners Insurance (and How to Stay Afloat)