HOA Services Tip: Five Great Things about Homeownership

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HOA Services Tip Five Great Things about
Homeownership
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HOA services

• This HOA services tip involves the five best
  things about owning a home.
• Although the housing market has had its
  challenges over the past few years, homeownership
  still matters.
• Take for example a June 2011 New York Times and
  CBS News poll. Ninety percent of respondents felt
  home ownership still helps fulfill the American
  dream.
• In an AAM study, more than 70 of homeowner
  association (HOA) homeowners surveyed believe the
  American Dream includes the ability to buy a
  home.
• Clearly underwater mortgages, uncertain economic
  times and a flood of foreclosures havent
  dampened the desire for the vast majority of
  Americans to own their own home.

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HOA services

• HOA Services Tip 1 Building Equity
•  
• Down markets dont last forever.
• Even in hard-hit states like Arizona and Florida,
  home prices rebound and once under-water
  homeowners may again begin to build equity.
• Thats something renters will never, ever do.
  Instead, renters provide a return on their
  landlords investment.
• Although it may take time, a persons home
  usually appreciate steadily over their lifetime.
  
• As the owner pays down their mortgage and their
  home gains in value, they may be building a nice
  investment for themselves instead of a landlord.

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HOA services

• HOA Services Tip 2 Creating Stability
•  
• When people buy homes, theyre more apt to stay
  put for longer periods of time.
• Renters often sign leases for six months to a
  year.
• Because of the nature of their leasing terms,
  renters and their neighborhoods may be more
  transient.
• On the other hand, neighborhoods with high home
  ownership rates are typically more stable in
  terms of neighbors living in their homes longer.
• In homeowner association neighborhoods that offer
  a great deal of HOA services, neighbors are
  generally more active in the community and build
  stronger relationships with each other.

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HOA services

• HOA Services Tip 3 Standardizing Payments
•  
• The great thing about a fixed mortgage is the
  principal and interest amount will never change
  for the life of the loan.
• Because of the melt-down caused by the creative
  finance loans of the lending boom interest
  only loans, adjustable rate mortgages, and others
  many borrowers prefer the safety of the
  fixed-rate loan.
• Homeowners want to know their payment will be the
  same five years down the road.
• They dont want a cloud over their heads that
  someday they may not be able to afford their home
  and have to move.

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HOA services

• HOA Services Tip 4 Customizing Spaces
•  
• Unlike rental properties, a homeowner can remodel
  the interior of their homes to suit their
  personal preferences.
• They can also make exterior changes based on CCR
  guidelines.
• Typically, a renter must live in a property in
  its as-is condition.
• Most rental units are very neutral in appearance
  so they will appeal to a broad spectrum of
  prospective tenants.
• Homeowners can also make investments in their
  properties. For example, they can install pools,
  additional bathrooms and other upgrades that will
  add value to their homes.

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HOA services

• HOA Services Tip 5 Increasing Deductions
• The mortgage interest deduction is one of the
  most valuable tax tools available to homeowners.
  
• In addition to most or all of their mortgage
  interest, homeowners can also currently deduct
  property taxes and points paid on their home
  loan.
• In most cases, first and second mortgages and
  home equity loan interest is also deductible.
  However, a tax advisor will be able to provide
  definitive answers on individual situations.
• Despite the housing environment of recent years,
  homeownership remains a top priority for the
  lions share of the country.
• Most everyone wants to achieve that very special
  feeling of success that Americans have cherished
  for decades.

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HOA services

• AAM works with many of the largest homebuilding
  and community development companies in the United
  States such as Del Webb/Pulte, Shea Homes and
  Meritage Homes.
• Founded in 1990, the company employs 370 people
  and manages over 400 communities in the United
  States.
• AAM is dedicated to delivering total peace of
  mind to the Boards of Directors and homeowners in
  the communities it manages.

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ABOUT THE AUTHOR
Jason Tucker is VP of AAM Edge Sales, a dynamic
and exciting new online community from Associated
Asset Management that delivers trusted and
relevant information to homeowners. Learn more
about HOA Services by visiting http//www.Homeowne
rResources.com.