Owning a home on a tropical island is merely a dream for most. However, the dream is attainable if you really want it! Buying a house, condo or property in Roatan may require a bit of homework and patience, but it’s definitely doable. One way to take the strain out of ownership is to buy property that is part of a Home Owners Association (HOA.) As part of the community, you pay annual HOA fees to have certain things taken care of. Things such as gardening, maintenance and security and more. So, how do HOA fees work in Roatan? In this post, we’ll go over the basics.
Not All HOA Fees In Roatan Are Alike
The first thing to understand about HOA fees in Roatan is that every HOA will cover different things with the HOA fees. As mentioned above, your annual fees may cover gardening, maintenance and security, but they may also include a lot more or even a lot less. Every community is different and you should make yourself aware of exactly what your fees will cover. If professional gardening, building maintenance, 24-hour security and a groomed beach are important to you, you’ll need to make sure they’re included as part of the HOA fees. Unless, of course, you want to do those things yourself! It’s important to ask questions and do your homework when it comes to HOA fees in Roatan.
The HOA Sense Of Community
Again, make sure you have a full understanding of what will be included in the specific HOA you’re assessing as each organization will be somewhat different. However, there are some general benefits to being part of an HOA. First of all, you’ll be part of a community of like-minded people. Many HOAs hold regular events for their members: things like beach gatherings, pool parties, sunset viewings etc. These are meant to bring neighbors together and increase the community spirit. If this is your first time buying foreign property, you may find the community invaluable in helping you navigate your new lifestyle.
When you buy property, you always hope that its value will increase over time. Most HOAs work to ensure this is the case. One way to do this is by enacting building controls and community design standards. These ensure there’s a certain level of quality to work done on the neighborhood properties. Building controls are put in place to prevent renovations which will detract from the overall ambience and negatively affect property values in the community. Some HOAs have strict design guidelines to ensure a uniform look throughout the community, whereas others allow for some flexibility as long as certain standards are upheld. Learning about building controls and community design standards before you buy will prevent any surprises.
Common Areas Maintenance
One of the biggest reasons for HOA fees in Roatan and elsewhere is to ensure the community’s common areas are properly maintained for everyone’s use and enjoyment. Maintenance of things such as the beachfront, communal swimming pool, lawns, sidewalks and roads are typically paid for using the HOA fees. This guarantees that the costs for necessary upkeep are split evenly among the homeowners rather than placing the responsibilities on individual property owners.