Buying a Home in 89074, Green Valley: Should You Have an HOA or Not?

If you're thinking about buying a home in 89074, one question you may not think about until you start looking at homes is:

Should I buy a home with an HOA, or should I look for a neighborhood without one?

There isn't a right or wrong answer.

It really comes down to what you want from your neighborhood, how much freedom you want as a homeowner, and how much value you place on having certain rules and standards in place.

In 89074, you'll find both HOA and non-HOA neighborhoods, so it's worth understanding the differences before you make an offer.

Why Some Buyers Like Having an HOA

For some homeowners, an HOA is a positive.

One of the biggest advantages is that an HOA can help maintain certain standards within a neighborhood. There may be rules regarding landscaping, exterior maintenance, parking, additions and other changes to the property.

Some buyers like knowing that there are rules designed to help prevent a neighbor from doing something that could negatively affect the appearance of the neighborhood.

HOAs can also maintain community amenities or common areas, depending on the neighborhood.

One good example of a positive for HOA’s is someone that I sold a home to many years ago.  They love their house and where they live but there is not a homeowners association in their neighborhood.  That has caused them some discomfort over the years as one of their neighbors has taken to fixing cars in their driveway at all hours of the night. Without an HOA in place, they have had no luck in being able to prevent them from continuing to run a mechanic shop from their house. 

For buyers who want a neighborhood that feels consistent and maintained, an HOA can be appealing.

Why Some Buyers Don't Want an HOA

Other buyers would rather have as few restrictions as possible.

They don't want to ask permission before making changes to their home or landscaping. They may want to park a vehicle in a particular location, make exterior improvements, choose their own landscaping or simply have more control over their property.

For these homeowners, an HOA can feel restrictive.

And there is also the cost.

HOA fees are an additional expense that needs to be included when determining what you can comfortably afford.

Don't Just Look at the HOA Fee

One mistake we see buyers make is focusing only on the monthly or annual HOA fee.

A $50-a-month HOA and a $200-a-month HOA are obviously very different financially, but the fee alone doesn't tell you whether the HOA is a good value.

You need to understand what you're getting for that money.

Does the HOA maintain common areas?

Are there amenities?

Does it provide services that you would otherwise have to pay for yourself?

Are there upcoming special assessments?

What are the HOA's financial reserves?

These are all questions worth asking.

The Rules May Matter More Than the Fee

Before buying a home in an HOA community, we recommend reading the rules and restrictions carefully.

Don't assume that because you don't mind the HOA today, you won't care about the rules five years from now.

For example, you may eventually want to:

• Change your landscaping
  
  
• Add a gate
  
  
• Replace your front door
  
  
• Install solar
  
  
• Make exterior improvements
  
  
• Park a particular type of vehicle at your home
  
  
• Rent the property
  
  
• Make other changes to the exterior
  
  

The question isn't whether the HOA has rules.

The question is whether you're comfortable living with those rules.

What About Resale?

This is another consideration.

An HOA isn't automatically good or bad for resale.

The desirability of the neighborhood, location, condition of the homes, HOA fees, restrictions and amenities can all play a role.

A well-maintained community with reasonable fees and rules that buyers generally accept can be very appealing.

On the other hand, an HOA with high fees, significant restrictions or financial problems could make a home less attractive to some buyers.

That's why we recommend looking at the specific HOA, not simply deciding that all HOAs are good or all HOAs are bad.

What We Tell Buyers in 89074

When we're helping someone buy a home in 89074, we don't tell them they should or shouldn't have an HOA.

Instead, we ask:

What kind of homeowner are you?

If you like having neighborhood standards, don't mind rules and appreciate having someone responsible for certain common areas or amenities, an HOA may be a good fit.

If you value independence and want to make your own decisions about your property, a non-HOA neighborhood may be a better choice.

Neither is inherently better.

It's about finding the right fit for you.

One More Thing: Don't Assume All HOAs Are the Same

This is particularly important when looking at established neighborhoods in Henderson.

Two communities can both have HOAs and have completely different rules, fees, financial situations and personalities.

Before you buy, review the HOA documents and find out:

• Current HOA dues
  
  
• What the dues cover
  
  
• Rules and restrictions
  
  
• Rental policies
  
  
• Pet policies
  
  
• Parking rules
  
  
• Architectural requirements
  
  
• Reserve funding
  
  
• Pending or recent special assessments
  
  
• Any current HOA issues or disputes
  
  

Your real estate agent can help you identify the questions you should be asking, but you should also take the time to read the documents yourself.

So, Should You Have an HOA?

Our answer is simple:

Buy the home and neighborhood that fits your lifestyle—not simply the one with or without an HOA.

For some people, an HOA is a benefit.

For others, it's something they would rather avoid.

The important thing is to know what you're agreeing to before you buy.

And when you're looking at homes in 89074, don't just ask, "Does this neighborhood have an HOA?"

Ask: "What does this HOA actually mean for me as a homeowner?"

That answer can be much more important than the monthly fee.

Frequently Asked Questions

Are there homes without HOAs in 89074?
Yes. Buyers looking in 89074 can find both HOA and non-HOA neighborhoods, depending on the area and specific community.

Is an HOA worth the money?
It depends on what the HOA provides and what you value as a homeowner. For some people, the maintenance, amenities and neighborhood standards are worth the cost. For others, the restrictions aren't worth it.

Can an HOA increase its fees?
HOA fees can change, subject to the association's governing documents and applicable Nevada law. Buyers should review the HOA's financial information and recent fee history.  Well-run communities usually raise fees by a modest 3% to 5% each year to track inflation and routine operating costs 

Should I read the HOA documents before buying?
Absolutely. It is a Nevada requirement that the Seller provide you with an HOA resale packet that includes pertinent information for your review and acceptance. You should understand the rules, fees, restrictions and financial condition of the HOA before committing to purchase the property.

Is an HOA good for resale value?
Not necessarily by itself. The overall neighborhood, location, home condition, HOA costs, rules and buyer demand all matter.

The bottom line is that for me and my family it works.  Is it a pain to have to do paperwork when you are just replacing a dead tree?  Yes, of course it is but to us it doesn’t outway the overall feel of our community. We don’t want our neighbors to paint their home a wild color or to have all kinds of cars in their yard.  An HOA prevents these types of issues.

Your Las Vegas Home Specialist Team

Andy Karpf, Brenda Brand & Lisa Lundt

Your local resource for Green Valley, 89074, and Henderson real estate.