Amber Brown, a real estate agent in Waco, TX, highlights the potential benefits of an HOA by stating, "I've seen homeowners build structures on their property to repairing race cars (extremely loud noise) or hoarding and having over 100 cats on their property that cause damage and bring an intensely bad smell to the area. The rules and bylaws an HOA can create and enforce will not allow homeowners to do these kinds of things."
Realtor.com® senior economist Joel Berner discusses the prevalence and financial aspect of HOAs, noting, "The median monthly HOA fee is $119. That's roughly $1,400 per year, which can be a significant expense. So prospective buyers would do well to investigate what services the HOA actually provides if they're considering buying a home that's part of one."
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