5 ways that HOAs make life better in communities like Teravista
Tuesday, October 23, 2018
Whether you choose a master-planned community that’s nearly completed, like Teravista, or one that still has years of development ahead, like our sister Austin area communities of Rancho Sienna and Sweetwater, it’s important to understand the beneficial role that the Home Owners’ Association, or HOA, plays in community life.
With that in mind, here are 5 ways that an HOA works to make life better in master-planned communities, or MPCs.
Maintaining amenities. Access to a broad range of amenities is one of the most appealing reasons to live in an MPC like Teravista, and the HOA dues paid by each household helps to maintain amenities in top condition. While the developer pays for the construction of amenities, HOA fees cover vital ongoing maintenance and operating costs for these amenities. In the first years of an MPC, HOA expenses are generally subsidized by the developer, but as the community grows and more homeowners contribute their dues, the costs of maintenance are gradually shifted to the HOA. Along with amenities such as community center buildings, pools, parks, playgrounds and trails, the HOA also maintains common areas such as entrances and medians. The HOA also beautifies these areas with seasonal flowers and holiday decorations.
Creating a lifestyle. In communities such as Teravista, the HOA is envisioned from the beginning as a positive force for creating an overall lifestyle that residents can enjoy. HOA dues pay for, among other things, planning and executing a robust calendar of events and activities for residents of all ages. Between special events and activities, and amenities that are available for year ‘round use, the HOA makes it possible for residents to enjoy a complete lifestyle through their dues.
Protecting your home investment. For many homeowners, protective covenants are one of the most appealing aspects of living in an MPC. The HOA is responsible for enforcing these covenants, which ensure that the appealing, cohesive appearance that attracts homeowners to a new MPC will be maintained, even after development is completed. Protective covenants cover architectural modifications, landscaping, the parking of vehicles and boats, and other aspects of community life. For more information on this benefit of living in an MPC, please check out this blog from our sister community of Sweetwater. The same principles apply to Teravista.
Getting neighbors involved. HOAs are democratic in nature, providing residents of a community with the opportunity to run for and be elected to the governing board. In the early days of an MPC, the developer will appoint a number of representatives to the HOA board, but as the community grows, so does resident representation, to the point where the HOA board is completely resident-controlled by the time that development is completed.
Sustaining quality of life. Establishing a strong HOA with active resident representation is one of the most effective ways to ensure that the high quality of life offered by an HOA continues after development is completed, evidenced in Teravista as well as Falcon Pointe, another virtually completed Newland community in the Austin area.
Learn more about the terrific Teravista lifestyle made possible in part by our HOA.
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