Homebuyers in West Knoxville need to consider whether they want to live in a community with an HOA. The Homeowners’ Association manages common areas and shared amenities like swimming pools, clubhouses, and roads. Along with this, the HOA will also set various rules for the community. The HOA communities in West Knoxville also collect fees from homeowners to support operations.
Are you unsure if you want to live in a community with an HOA? This post will cover some reasons West Knoxville homebuyers should consider HOA communities.
Advantages of Living in HOA Communities in West Knoxville
No State Income Taxes, Low Property Tax
We’ll start with a great reason to choose West Knoxville. The state has no income tax, making Knoxville a more affordable place to live. Property tax rates vary depending on the city and the county. The city property tax rate is $2.1556 per $100 assessed value. On the other hand, the county property tax rate is $1.5540 per $100 estimated value.
Regularly Cleaned and Maintained Common Areas and Amenities
Most monthly HOA fees cover the costs of maintaining and operating common areas and amenities. Repainting, landscaping, and cleaning pool areas and clubhouses are typical maintenance tasks. An HOA might also pay security guards who guard the community 24/7. The fees depend on what the residents agree on and the costs.
Social Events
Some HOAs might organize events and activities for the community. It might be Halloween parties, summer programs, barbeques, and spring break activities. It allows everyone to connect with neighbors and enjoy each other’s company.
Standard Rules and Regulations
HOA communities in West Knoxville have standard rules and regulations that homeowners and visitors must follow. These rules could apply to house renovations, parties, and shared amenities. The rules also apply to all homes and residents in the community.
HOAs Protect Property Values
Another benefit of HOAs is that they protect property values in the community. Protecting property values is one of the main purposes of an HOA and the rules they set. It is a way to ensure all community members maintain their properties. The HOA can also stop people from doing things that could hurt property values in the neighborhood. It provides peace of mind knowing the HOA is protecting your investment.
Still wondering if an HOA is right for you? Click here to learn more.
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