In the days of 1970s suburbia, a new kind of living slowly emerged in neighborhoods across the country. Manicured lawns similar to those in Leave it to Beaver may be the first thing you think of when you hear about a neighborhood governed under the homeowner’s association (HOA). However, the benefits of living in an HOA neighborhood have become much more appealing, and those who reside in these neighborhoods have greatly changed.
These days the majority of homeowners who live in HOA neighborhoods find that their choice of living happens to be situated in such a community. More often than not, people living in these neighborhoods also feel a higher level of security and property value. However, affordability, recommendations from a friend or loved one, and past experiences living in an HOA neighborhood have very little effect on those who choose to live in these neighborhoods. The sense of community isn’t as much of an effect either, as you may have assumed an organization would have improved.
Suburbs were once thought to be the haven for HOA, but now, 61% of HOA residents who enjoy living in their neighborhoods reside in apartments. Townhouse residents and homeowners are nearly split 50/50 on their preference of living in these neighborhoods. Whether it’s based on having a high sense of security or personal preference, residents of HOA neighborhoods are staying put, and the numbers are rising each year.