Is it Better to Rent a Home, Own a Home, or Buy a Home in an HOA?

Buy or Sell or HOA

Choosing between renting a home, owning a home, and buying a home in an HOA is completely dependent upon on your needs – there are benefits to each.

For generations, buying a home was considered the cornerstone of the American dream. However, in recent years, people have been debating whether buying a home is better than renting.

Adheesh Sharma, vice president of financial solutions at Fidelity says, “a lot of financially savvy people are starting to question whether it’s economically rational to buy a starter home or to wait and buy that dream house where they’ll live 30 years.”

How You Can Benefit From Renting a Home

  • A set payment – rent costs are stable and predictable with little unexpected surprises.
  • No property taxes and in many cases no maintenance costs, and – in some cases – utilities are baked into their rent payments.
  • Cheaper moving and maintenance costs.
  • Avoiding costs associated with homeownership like land transfer taxes when buying, commissions when selling, and legal expenses.
  • No charges for homeowner insurance, mortgage interest, and taxes.
  • Renting isn’t throwing money away—you get a place to live.
  • Opportunity to invest the cash you would have spent on a down payment, taxes, insurance, and maintenance for a home.
  • The convenience of calling the landlord instead of dealing with the hassle and expense when appliances break or the plumbing leaks.

The Big Benefits of Owning a Home

  • Owning a home offers the long-term benefits of security and equity.
  • You can decide to sell when property prices go up and reap the rewards.
  • The potential for an opportunity to refinance your mortgage to pay for a major expense like a new car or your kid’s college tuition.
  • Once your home is paid in full, it’s yours and your housing expense is eliminated.
  • The potential for appreciation – breaking even or even an earned return.
  • The comfort of having a roof over your head even if your home does not appreciate.
  • Tax credits help offset some of the cost of homeownership.
  • Creative control – you don’t need any approval to swap out the appliances, install new hardwood, or go to town with your paint colors!
  • Pride of ownership.

Keys to Your New HomeThe Amazing Benefits of Buying a Home in an HOA

According to a study by George Mason University, HOAs increase property values.


On average, a home in a community association sells between 5% and 6% higher than an equivalent home that does not enjoy planned community designation.

In essence, a homeowners association is a governmental type of entity that manages and keeps the peace in your neighborhood. The entire purpose of an HOA is to maintain a higher quality of life. Many empty nesters and first time home buyers love Association life because it frees them of many responsibilities.

If you purchase a home within an HOA or COA  membership is mandatory. Along with the membership, is the collection of regular fees. In return for your payments, an HOA may provide certain amenities, such as a clubhouse, private park, or community pool. Some HOAs handle basic maintenance, landscaping, snow plowing and other repairs for common elements.

Most HOA rules are well intended and are designed to mitigate problems before they occur. Rules are implemented for many reasons, such as the appearance and safety of the community.  In many cases,  especially regarding safety, rules are designed to benefit all.

• Pretty Neighborhoods – Because the rules are strict about your home’s exterior appearance, the result is a nicer looking neighborhood. Properties in an HOA tend to be better cared for thereby increasing property values.

• Less Neighbor vs Neighbor Disputes – Any time you have an argument about a dog barking all night long, your exact property line, or loud parties, the HOA will address it. If you have a management company, that’s even better. They will intervene on your behalf to protect your privacy.

• Much Higher Quality of Living–The rules are written and enforced for the purpose of raising the quality of living. Neighborhoods will be more peaceful, safe, and beautiful because of the rules, which increases your quality of life.

• Shared Cost of Community Amenities –
The fees collected each month is used to build and maintain common community areas such as parks, pools, and even recreational facilities. And don’t forget detention ponds and lakes. The expenditures are included in your monthly payment saving you the costs of joining a gym or swim club. Entertaining is easier with a community clubhouse as well.

• Basic Maintenance Included – Often, basic maintenance such as landscaping, and snow removal will be performed. In some instances, exterior maintenance like roof replacement, painting, pest control, and cleaning are included. Since the costs are shared by all, the per door cost of what is included is drastically less than if you would have had paid for it yourself.

Rinaldo Acri-CEO Acri Commercial Realty Rinaldo Acri CEO of Acri Community Realty says, “Purchasing within an HOA is an affordable benefit for first-time home buyers, retirees, and low to moderate-income families.”

Many people are searching for a less complicated life, leaving more time to enjoy themselves. Acri Realty feels that is where buying in an HOA or COA can make all the difference. Shared amenities like swimming pools and recreational centers offer a solution that most folks cannot afford on their own. Perhaps more importantly, associations also offer a sense of community, an important contribution in our increasingly transient society.


Disclaimer: This content including advice provides generic information only. It is in no way a substitute for qualified legal opinion. Always consult a specialist or your own attorney for more information. Acri Community Realty does not claim responsibility for this information.
Acri Community RealtyAbout Acri Community Realty: Acri Community Realty, located in the Greater Pittsburgh Area, specializes in custom HOA and Condo property management solutions, scaled to fit your needs.

Acri is known for the great care and pride in the work done to protect and enhance the value of your investment. They have the privilege of managing a diverse portfolio of properties while caring for each and every home like it is their own.

If you’ve had any issues with your HOA or Condo that you’d like Acri to try and delve into, and possibly write about later contact us via our website at ⇒ Acri Community Realty. We are interested to hear about your experiences and how an association has helped or hurt.

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