Homeowner associations, or HOAs, may seem like a relatively recent concept, but the earliest ones were established by land developers back in the mid-19th century. With the growth of common-interest developments (CIDs) such as condominiums and planned single-family home communities, HOAs now govern more than 26 million homes.

Are you considering Spokane homes for sale that are part of an HOA? Make an informed decision using this list of pros and cons.

• PRO: No Yard Work
  Tired of using your leisure time to mow the lawn or shovel snow? HOAs handle the maintenance of grounds and common areas. For many people, this is the most appealing factor.
  
  
• PRO: Use of Amenities
  HOAs often provide swimming pools, tennis courts, playgrounds, and numerous other amenities for the use of residents. Instead of having to spend hundreds or thousands of dollars on construction or memberships, all costs are covered.
  
  
• PRO: Interaction with Neighbors
  As members of the HOA, you and your neighbors already have a common ground for interaction. In addition to regular meetings, HOAs may host holiday parties or other social events, promoting a sense of community.
  
  
• PRO: Strong Property Values
  HOA covenants, conditions, and restrictions (CC&Rs) are aimed at ensuring a uniformly streamlined look throughout the community. Meaning you'll no longer have to put up with a neighbor's overgrown lawn.
  
  
• PRO: Conflict-Free Living
  Even a minor disagreement between neighbors can escalate into major unpleasantness. HOAs run interference for members by enforcing CC&Rs and resolving disputes.
  
  
• PRO: Simplified Bill-Paying
  HOA fees in many communities include monthly sewer, water, trash, and recycling charges. Not only do you have fewer bills, but you also don't have to budget for fluctuating utility costs.
  
  
• CON: Less Freedom
  HOA CC&Rs that are such a benefit when they apply to neighbors can become a liability when they apply to you. If you like to throw big parties or paint your home in different colors, you may find an HOA restrictive.
  
  
• CON: Added Expense
  While HOA fees are paid separately from a mortgage, they're included in the total amount a lender considers for financing. Even if you're current on your mortgage, defaulting on HOA fees can carry the same potential penalties as defaulting on a mortgage.
  
  
• CON: Politics and Red Tape
  HOAs are headed up by an elected board of directors. Like any governing body, the board is charged with acting in the best interests of its members. It can also be subject to power struggles, conflicting agendas, and layers of bureaucracy.
  
  
• CON: Shared Financial Burden
  A portion of HOA fees goes into a reserve fund intended to cover unforeseen expenses. If emergencies create a shortfall in the reserve fund, members are charged to bring the balance back to a reasonable level.
  
  
• CON: Legal Entanglements
  If the HOA becomes involved in a legal battle such as removing a board member, you could be subject to fallout. This ranges from a spike in HOA fees to a drop in property value.
  
  
• CON: Rental Restrictions
  Some HOAs impose a rental cap, meaning only a certain percentage of units may be rented out. This can be a roadblock if you intend to use your property as an income generator.

Our REALTORS® will help you find a home best suited to your personality and lifestyle. Contact us for more information.