Hi everyone, I’m Donna Taylor, with Living in Central MS. Today, I’m here to talk about the good, the bad about HOA’s….especially as they relate to our area. So, if you’re thinking of moving to Madison, MS…listen up to what I have to say on HOAs…
So, are you an HOA hater?? I’m asking because I get a lot of buyers that tell me, they HATE HOA! I mean, I get it…you own your home and you should be able to do whatever you please on your property….right??? Well, not so fast. Keep in mind one of the main purposes of an HOA is to protect home values in the neighborhood and of course to manage the common areas in a neighborhood. Let’s just say your next door neighbor decides to paint the entire exterior of their house hot pink (nothing against pink, I love that color), just not on my house…well, if you’re in a neighborhood with no type of oversight from an HOA or other ordinance, they are free to paint their house hot pink. And a few years later you decide to sell your home, and everyone that comes thru your front door mentions the pink house next door, and ultimately decide they don’t want to live next to the hot pink house, your home value has DECREASED. Of course, this is an extreme situation, but this happens A LOT with other things like neighbors parking boats, trailers or junk cars in the yard. Or maybe a neighbor that doesn’t keep their house up and has a big blue tarp on the roof for 2 years running and paint that is peeling and a yard that hasn’t been mowed in a month…. you get the gist. So, what do HOA’s in Madison MS cost you ask? Most of the neighborhoods in Madison, whether in the city or the county do have an HOA. But you might be surprised at how low the HOA fees in Madison are…especially if you’re used to living in a bigger city with high HOAs. The average ANNUAL HOA fee in Madison is around $600. Some of the neighborhoods with more amenities like Lake Caroline (check out that YouTube Video here) are closer to $1,500 per year…but that’s because they have pool, tennis courts, playgrounds, walking trails, etc to maintain. But, some of the smaller neighborhoods without all those amenities are usually only about $300 per year. But, they will all have rules and regulations at their core aimed to protect home values.
Whether you’re a fan of HOA or not, make sure you ask for a copy of the covenants when looking at purchasing a home so that you know the rules. In Madison, all of the neighborhood HOA covenants are posted on the county website for all to see, so you can’t say that you didn’t know the rules! You just need to look! There’s nothing worse than moving into a home with your 3 precious dogs to realize the neighborhood rules and regulations state that no owner can have more than 2 dogs living in the home. Yikes! And yes, I’ve heard of this happening!
Ultimately, if you’re looking at buying In Madison, MS you’re most likely going to be in an area with an HOA…this is a big part of the reason why home values in our city have remained steady and always increasing.
