When owning a home! One thing you must keep in mind especially during times of drought is your home's foundation. It can crack and become raised on one side pulling your plumbing out of its
Is POA And HOA The Same
You liked the neighborhood but it has a POA however you don't want to live where there is a HOA.
Would you consider purchasing a home with a POA?
What is the difference? Lets take a look...
|POA, Property Owners Association, is often confused with and HOA, HomeOwners Associations. Although they are similar in nature they do have some differences. Buyers should be aware of the differences when choosing neighborhoods. Especially when you prefer community without a HOA but has a POA. ||POA is all about the Property. Its main purpose is to be supportive of the association and its members. It may be composed of business owners that contribute to the real estate industry as well as residential homeowners. They do not necessarily have rules and regulation like an HOA. Their purpose is to support the local real estate industry and offer networking along with education opportunities. ||The goal of the POA is to improve large areas, neighborhoods and even entire towns. They can implement zoning restriction, take on development projects and make communities beautiful. Often the focus is toward the overall health of the community by being part of the plans that develop business and increase property values in large areas. |
So what is the main deference...
It is the primary function and its goals. Remember the focus of the HOA is entirely residential. POA can govern multiple types of property like businesses and residential.
HOAs are all about residential homeowners...
|HOA is for the homeowners who owns lots and homes within the community and has a monthly, quarterly, or yearly HOA fees. They have bylaws and rules member are required to follow as per the property management regulations. Homeowners must follow regulation such as lawn upkeep, outdoor decorations, any alterations or additions to the property. HOA also manage any and all shared areas among the residence that are considered "common areas" for expample: green spaces, fur parks, bike paths, pools and playgrounds to name a few. Generally the HOA's purpose is to maintain a standards for all residence in the community to live by. Therefore when making any alteration, additions and or exterior improvement one must seek approval from the board of directors. Resale value is very important which is why the HOA sets and manages certain standards for the residential community. |
|Find out whether there is a POA or a HOA in the community you are interested in. Ask lots of question especially if you have a truck, a boat or both that you will be parking on on the property or even if you want to build a Tiny House for guess to stay in.||Many people love the HOA because it keeps unity in the community, they appreciate the amenities and love living among like-minded people. Where as where there is no HOA people are more free to express themselves by creating more of a homestead environment and have the freedom to park their working truck and boat or both on their property.|
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And if you are in the market to purchase or sell a home or invest in property call Awilda Caberto at 512-808-7313
I am based in the greater Northwest Austin, TX area and I am determined to be the real estate consultant of choice and have some fun while we are looking for your next home or Lot. Just to share a b....