When it comes to buying or selling a home, one aspect individuals need to consider is if their community has a homeowner association.

In the following Q&A, Collin County Area Realtors’ Former President Shana Acquisto discusses how HOAs work, the pros and cons of living in a community with an HOA and the importance of homeowner involvement.

What is a homeowners association?

Acquisto: An HOA is a legal entity that manages and regulates certain aspects of the community—mostly the aesthetics, the maintenance of common areas and the agreed upon community rules. They're very common in planned communities, and they're responsible for maintaining the standards and amenities all the homeowners benefit from.

What are some of the pros and cons to living in a community with an HOA?

Acquisto: It depends on who you ask, but generally, I think they play a significant role in shaping the communities, particularly with the state experiencing such rapid population growth. I do believe many Texans prefer HOAs for the benefits they provide. It will maintain the property value and ensure the appearance is great.

However, I think it is important to have a balance between maintaining standards and allowing you the freedoms that you get with homeownership. I think many homeowners appreciate the protection and the amenities, and then some express frustrations over excessive regulations and overreach.

Can you describe any challenges that may arise for a homeowner when they’re buying or selling a property within a community with an HOA?

Acquisto: When you buy a home, you think, ‘I want the freedom to do with the property what I want to do with it,’ but the challenge is, without an HOA, you might get someone who paints their home a very unusual color. There's just no standard in the community. If you buy or sell a home, you can expect to pay a certain fee right to the HOA. Sometimes you may see transfer fees or capital improvement fees, and not knowing what that really means can be frustrating for homeowners.

How can having a Realtor help you navigate HOA fees and regulations?

Acquisto: We do this every day, so we are familiar with the communities, and know where to find the information to educate our clients on the benefits or drawbacks of being in an HOA. Having a Realtor to help you navigate through that and fit your individual needs is important, because there's a lot of unknowns.

Is there anything else homeowners need to know?

Acquisto: Something we tell our kids, If you don't like something, then get involved and have a voice,’ so I think it's essential for homeowners to really get involved with their HOA. They may not need to have a seated position on the board, but just be involved. Know who the board is and where the communications come from, and make sure that you're informed.

I recall a time when we went to an HOA meeting, and it was my husband and I and two people, and that kind of struck me. It just drove home the importance of participating and staying informed, because it should not be just two people making decisions. You need a governing body to be able to make a sound decision. Whether you want to keep up with what's going on, or if you want to be on the board, just be involved.

Learn more

To learn more about the Collin County Association of Realtors, visit the organization’s website.

The above story was produced by Multi-platform Journalist Mary Katherine Shapiro with Community Impact's Storytelling team with information solely provided by the local business as part of their "sponsored content" purchase through our advertising team.