To mow or not to mow…that is the question!
Since Homeowner Associations (HOAs) are not very common in Henry County, Indiana, let’s take a moment to discuss the options you have in Henry County’s new neighborhoods related to exterior maintenance.
At River’s Edge in Knightstown, the entire neighborhood is part of the HOA and exterior maintenance is taken care of. These homes are all considered maintenance-free.
At The Preserve at Northfield Village, there is a maintenance-free and a non-maintenance section. Both of these sections are in the HOA, the difference is simply how much exterior maintenance is included.
What does maintenance-free mean? If you buy a single-family home or condo in the maintenance-free section, this means much of the exterior maintenance is covered by the HOA. You do not have to worry about lawn care, shoveling snow, or roof or siding repairs. This will also likely reduce your homeowners insurance significantly.
What is the difference between “maintenance” and HOA? All homes at The Preserve are in the HOA but not all are maintenance-free. If you are in a non-maintenance section, this means you still have access to the neighborhood pickleball courts and the clubhouse, but you will be responsible for your own exterior maintenance including mowing your lawn, shoveling your snow, etc.
How much? There is a one-time capitalization fee and a one-time HOA fee that all River’s Edge and Preserve buyers will pay at closing. River’s Edge homeowners will also pay an annual HOA fee. After the fees at closing, the amount you pay at The Preserve will depend on what section you are in and whether you buy and condo or a single-family home. The maintenance-free section owners at The Preserve will pay a monthly fee depending on types of home and those in the non-maintenance section will pay a small, yearly HOA fee.
What type of home can I get? River’s Edge has a total of 22 condo-style townhomes, with several options still available. At The Preserve, there are a total of 84 planned units going in. Seventeen of these are single family homes in a non-maintenance section, 44 quad-condo style units in the maintenance-free section and another 23 single family units in the maintenance-free section.
Let’s Connect: Are these home possibilities for you or someone you know? Home prices are at a record high. Do you know the current value of your home? ERA Integrity can help! Please contact us so we can discuss your needs. Fill out this form, or give us a call at 765-529-2211.