Blog Post

What is an HOA?

HOA stands for home owners association and is the self-governing body that is responsible for maintaining and improving common areas within a planned community. For example, when you move into a Cornerstone Homes 55+ community in Virginia, the HOA takes care of things like:

• Trash Removal & Recycling
• Landscape Maintenance
• Community-wide Irrigation
• Snow Removal
• Exterior Home Maintenance (Roof Not Included)
• Common Area Lighting
• Operation of Clubhouse & Amenities
• Reserves for Future Replacement Fund
• Professional Management Services

How Do HOAs Work?

An HOA consists of a member-elected board of directors, usually four people who are homeowners within the community. The board of directors manages the finances and sets the rules of the HOA. The finances account for how the HOA will pay for items like landscaping and pool maintenance, as well as reserves for future improvements and unforeseen circumstances, like storm damage to a common area. The day-to-day tasks of community management are executed by an HOA manager, who is hired by the board of directors. 

Every homeowner within a community pays monthly dues to an HOA. These dues are determined by how much it costs to maintain the community and its amenities. At Cornerstone Homes, HOA fees can range anywhere from $180 to $295 per month, depending on the community.* 

How Does an HOA Benefit Homeowners?

Wherever you live, there is always a cost to maintain a home and property. In communities that have an HOA, it's typically less expensive for homeowners to share in that cost with everyone else who lives there. 

More importantly, though, having an HOA to shovel snow, landscape green spaces, and maintain the exterior of your home gives you back priceless hours. Not only do you not have to do the work yourself, you don't even have to think about it! It's the ultimate peace of mind knowing that your home, amenities, and community will always look fantastic and function well, and all you have to do is enjoy them. 

Learn more about Cornerstone Homes’ HOAs and get to know Erica Faria, one of our HOA managers, in this "Tuesdays @ Two" video here!

*Based on 2022 HOA Dues