HOAs aren't all bad: 4 reasons to buy into one
- January 5, 2024
- Matthew Freedman, economics, Motley Fool -The Ascent, Jan. 5, 2024
HOAs are often mocked for imposing strict rules and imposing cookie-cutter aesthetics on home buyers and owners. But those rules have the potential to result in a higher home value for you. And that could benefit you in a couple of ways. First, the more your home is worth, the easier it becomes to borrow against its equity, whether in the form of a HELOC, a home equity loan, or a cash-out mortgage refinance. Also, if you decide to sell your home, you may find that you're able to get a higher price for it. A University of California, Irvine study cited by HomeLight found that single-family homes governed by HOAs sell for an average of 4% more than non-HOA properties.
For the full story, please visit https://www.fool.com/the-ascent/mortgages/articles/hoas-arent-all-bad-4-reasons-to-buy-into-one/.