Think of the fresh paint, uniform building designs, uncluttered porches, tidy lawns, and the overall clean appearance of a deed restricted community association. These are the qualities that people consistently seek when purchasing a home. These qualities also maintain property values. While deed restrictions sometimes have negative connotations, more importantly they allow associations to fund maintenance projects and keep the association beautiful.
Other benefits to living in a deed restricted community association include:
- Financial planning. Community associations help owners maintain a standard of living, stay on budget, and save money. Most community associations have a reserve fund that saves for major future expenses for maintenance or repair of capital items. For example, an association will have money saved in a reserve account for future roof replacement. This then eliminates the burden on an individual owner to separately save for roof replacement
- Association governance. Volunteer board members are elected annually by owners to oversee the association’s responsibilities and hire service providers, such as managers, landscapers, and attorneys. Board service to owners is strictly for the benefit and in the best interest of the entire community.
- Increasing Property values. Well run associations actually increase property values. Well maintained and properly financed community associations are great investments.
- Association amenities. Many associations have a pool, clubhouse, community playground, or green spaces available for all of its residents. Such amenities are paid for with the common assessment and enhance community association living.
When purchasing a home, it is important to consider the many benefits of living in a deed restricted community association. If you are presently living in, or serving on the board of a community association, it is just as important to remind yourself and realize these benefits. Without an association, you may have to look at your neighbor’s unkempt lawn, purple shutters, and cluttered porch with no remedy available. Living in a community association is and of itself, a true benefit!