Today’s home buyers have become more security conscious, they often have a desire to become more involved in their neighborhood activities and they are more keenly aware of the affects of a neighbor’s property condition on their home value. These factors have led to an increase in the demand for West Bank homes in gated communities with a strong Home Owners Association.
A true gated subdivision or community limits access to the neighborhood through the use of an electronic gate, on site security, or, in some areas, a combination of the two. For some buyers, it offers peace of mind. For others, it brings a sense of prestige. Before you buy a home in a gated community, there are a few things you need to know.
What is an HOA?
In 2006, it was estimated that over 23 million homes, representing 57 million residents in the United States, are governed by an HOA. A home owners association, or HOA, is usually created by the builder or developer of a subdivision to manage and maintain the common areas of the neighborhood, such as streets, gates, street lights and parks or playgrounds. If on site security exists, the HOA coordinates the hiring and payment of security personnel. All of these common expenses are paid through annual, biannual or monthly home owner fees assessed to each property owner in the community. HOAs are generally taken over and run by board members and officers who are home owners once a certain percentage of the lots have been sold.
The association is also responsible for enforcing the neighborhood covenants, conditions and restrictions that are a part of the property deed. Fines can be assessed for non-compliance with these restrictions and liens can be placed on properties if the annual dues are not paid.
Benefits of an HOA
HOA members are usually an active group of home owners and are concerned about the quality of life within their subdivision. The HOA serves as a sheriff of sorts, enforcing restrictions such as parking rules, the placement of signs on property and exterior renovations that may change the look of the neighborhood. The goal of an HOA is to preserve the desired characteristics of the neighborhood and ensure that all home owners remain in compliance with the established rules of the community.
What do you need to know about an HOA when buying a home?
When making an offer to purchase a home in an area with home owners association covenants and restrictions, be sure to allow yourself time to review all of the association documents. If they are not provided in advance of making an offer, I strongly recommend that you make your offer contingent upon the receipt and acceptance of those documents. You don’t want to move into your new neighborhood only to have the HOA board tell you that your garden gnome collection doesn’t meet the criteria for exterior decorations and your boat cannot be parked in the driveway! Carefully read and review ALL of the covenants, restrictions and conditions of owning a property in a community BEFORE moving forward with your purchase.
Where are the gated communities on the West Bank of New Orleans?
Once you have determined that a gated community is the right fit for you, there are multiple neighborhoods on the West Bank to choose from, with a wide range of annual HOA fees assessed in each of them. (Note: annual HOA fees are subject to change and the current fees should be verified before making a home purchase)
Algiers, LA
- Algiers Riverpoint ($375/year)
- Aurora Riverside ($500/year)
- The Villas of Aurora ($500/year)
- Lakewood Estates ($1,300/year)
- English Turn ($2,340/year)
Belle Chasse, LA
- Pleasant Ridge Estates ($500/year)
Gretna, LA
- Hamilton Oaks ($200/year)
- The Commons ($480/year)
Harvey, LA
- Magnolia Trace ($600/year)
- Barkley Estates ($500/year)
- Village Green ($360/year)
- The Residence at Park Avenue ($3,600/year)
Photo credits: Top gate photo by CraigPJ; bottom gate photo by jacopoL
For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!
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