My HOA Dues Went Up. Here’s Why I Don’t Mind

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HOAs can be expensive, but is the price worth it? 

I had long vowed never to live in a neighborhood with a homeowners association. However, I changed my mind a few years ago and ended up buying a property in an HOA neighborhood.

While monthly HOA payments add an extra obligation on top of a mortgage payment, my husband and I liked the amenities on offer in our neighborhood. We also wanted to live in an area where almost every place has an HOA, so we had very limited options if we didn’t buy in an association neighborhood.

Once we moved in, we started paying our monthly dues. And, in 2023, those dues went up. I don’t actually mind the cost increase, though, and there’s a simple reason why.

Here’s why I’m OK With an HOA payment increase

I was OK with the fact that our HOA dues went up this year because we are getting more for our money.

Our dues cover things like landscaping services, as well as internet and cable TV. The neighborhood decided to upgrade the internet to a faster speed this year, so we’ll be benefitting from that.

Our neighborhood also already has a small waterpark, but it’s building a bigger one with several new slides and a new pool that will be a very short walk from our house. My son loves the existing slides and splash pad, and the new one will be a whole lot more exciting for him once it’s finished.

Since we’re getting some great added benefits from living in our neighborhood, we don’t mind the fact that we will have to pay slightly more each month for these new offerings. In fact, gaining access to the new swimming area alone is well worth the higher price we’re going to be paying since it means we’ll be able to more easily entertain our kids without having to go and spend money elsewhere.

Rising dues is a risk of an HOA neighborhood

While I don’t mind that my neighborhood raised my monthly fees this year, the fact is that this could easily be a problem for some homeowners. In fact, several of my neighbors have complained about the rising costs putting stress on their budgets. And others are worried that if the monthly payments get too high, it will be harder to find a buyer.

The sad reality is, we didn’t really have a choice about our dues going up. While there was a vote about whether to increase costs and change the services on offer, everyone in the neighborhood was bound by the outcome once it passed — even if they voted against the cost increase.

This is a big risk of living in a neighborhood where you have to pay a monthly HOA fee. You could get hit with rising costs you aren’t happy to pay for. It’s important to think this through — and find out the rules for when and how fee increases can occur over time — before buying a house in an area where there is an association, especially if you’re buying a home at the top of your home-buying budget.

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