Home Owners' Associations (HOA's) are often established for new subdivisions by the builders or developers.  When a development is established and the units have been sold, control of the HOA is then transferred to the homeowners.

Buying a home protected by a Home Owners' Association in the Greater Salt Lake City/Park City area has its advantages.

The ultimate purpose of an HOA is to manage the common areas within the development enforcing the rules and regulations established by the community.  HOA's are run by a board of directors who are homeowners in the subdivision.  HOA membership is often mandatory for all homeowners within the development.  The fee for membership is determined by several factors such as maintenance and utility costs. This fee is often determined by the size of the property.

Rules and regulations are established to maintain the property values within the community which is what often draws many buyers to a home within an HOA community.  This insures a neighbor will not do anything to their property that could have a negative effect on the market value of the neighborhood.  These rules and regulations are known as "CC&Rs" which stands for "covenants, conditions and restrictions."  Some common CC&Rs include the allowable exterior house paint color, type of allowable fence material, and landscaping guidelines.  I would be happy to discuss specific CC&Rs in the Greater Salt Lake City/Park City area with you; just email me at kathyo@kathyohomes.com.

Community amenities such as a golf course, tennis courts, and swimming pools, are maintained with funds from the HOA fee.  Other uses of the fee include payment for water, sewer, trash collection, ground maintenance and sometimes basic cable.  This insures proper upkeep of the facilities which in turn, keeps up the property values.

Ground maintenance is perhaps the most overlooked benefit of an HOA.  The grass needs to be cut and watered; plants and trees need to be tended to.  Even light bulbs must be changed every now and then.  Snow removal is a big added perk to an HOA in the Salt Lake City area.  The monthly HOA fee is used in part to cover these costs.

One of the best aspects of buying into an HOA subdivision is the sense of community.  Developments with HOA's tend to be more social communities.  Neighbors have a stake in common property which they maintain and share together.

A great example of an HOA at work in the Salt Lake Citry area is the Briarwood Springs Condominium complex in Midvale, UT.  You can view some pictures at www.BriarwoodSprings.com

There is a lot of free information about buying, selling or investing in the [Profile.market] real estate market. To request free information about the Greater Salt Lake City/Park City real estate market contact me, Kathy Opolski at kathyo@kathyohomes.com.  Have questions?  Feel free to call me with your real estate or mortgage related questions at 801-518-4599.  Complete information about the Greater Salt Lake City/Park City real estate market including current homes for sale, property values and more is available online at www.KathyOHomes.com.

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