Homeowner Associations (HOAs) come with big emotions — you either strongly support them, or are vehemently opposed. HOAs come with a set of rules and regulations that guide what you can and can’t do in the neighborhood you live in. If you live in a community such as the Pointe in Cheyenne and have shared amenities such as a swimming pool or security gates, the HOA maintains these neighborhood features.
The Pointe in Cheyenne is a blooming Wyoming community with homes that beckons a place to rest and relax. Find tree-lined sidewalks and neighborhood parks, only minutes from local shopping and service centers. If you’re looking for a new, turn-key home with little maintenance and big character, The Pointe in Cheyenne is a place to call and feel at home. Join us in today’s post as we explore HOAs and how they can make Wyoming living wonderful!
What is an HOA?
An HOA is set up in the community you’re living in to help it function optimally. For example, if you have a sprinkler head in one of your neighborhood parks that aren’t popping up, instead of asking someone to volunteer their time, you can let your HOA know, and they’ll take care of it — it’s all built into the fee.
HOA communities have dramatically risen since the early 1970s where only one percent of homes had them, to now 25 percent of neighborhood communities boasting one.
What Are HOA Fees?
HOA fees cover maintenance around the community such as trail preservation, water, snow removal, and landscaping. HOA fees will greatly vary, but on average, HOAs are $200 to $300 per month.
HOA fees may seem high, and they are, but the extra money is put into a reserve to cover big-ticket items such as painting, new roofs, or replacing hot water heaters. If the HOA doesn’t have the reserve for a costly repair, the residents are required to split the remainder to fund the repair.
What Do HOA Rules Look Like?
The rules and regulations of an HOA are similar to the fees — they will all vary. Elected board members will establish monthly meetings to discuss concerns of the community and come to decisions that way. When it comes to how the money is spent, there is always a neighborhood vote.
The rules are referred to as “covenants, conditions, and restrictions” (CC&Rs) and upon moving in, residents are required to read and sign a contract agreeing to them.
Common CC&Rs include:
- The type of animals and breeds of dogs allowed
- Exterior paint color conditions
- The type of landscaping you can install
- Fence restrictions
- Building restrictions
- Noise restrictions
Read CC&Rs Carefully
It’s crucial to read the rules of your HOA because consequences can be serious. HOAs sometimes even have the right to foreclose on your home if you fall behind on payments or consistently break the community covenant.
An HOA was put into place to help the community run more smoothly with less conflict. HOAs are all a little different, but generally take of the grounds, some utilities, and facility maintenance. The HOA fees cover these services as well as build up a community reserve for big-ticket expenses beyond the normal monthly fee.
If you’re moving to a community such as the Pointe in Cheyenne, take some time to peruse the neighborhood and get to know the HOA CC&Rs. A community HOA can be very beneficial and the key to low-maintenance living!
Come and see why Homes By Guardian have the best new homes in Cheyenne! To tour our homes in the Pointe and to see the different new home layouts, connect with us today!