Buying a home in a community governed by a homeowners association is a lot like buying a share in a closely held, publicly-traded real estate holding company governed by an ever-changing regulatory system and managed by inexperienced volunteers -- your neighbors.

The sometimes trying day-to-day operations of a self-governed community, its limitations on lifestyle, living in close proximity with neighbors and paying monthly dues in addition to a mortgage and property taxes can be real deal breakers for those unaccustomed to HOA living or unfamiliar with its special requirements.

Affordability attracts many buyers and in recent years, the growth in the median and average values of HOA-governed community homes (which are often condos and townhomes, but also can be single-family homes), has exceeded the growth in value of single-family homes not governed by HOAs.

Often buoyed by purchases in the second home market, the value-growth factor no doubt plays a large role in the pros overcoming the cons of community association living, but there's more. Much more.

A national "Homeowners and Community Associations" survey recently found that the vast majority -- more than 70 percent -- of community association residents are satisfied with their lifestyle.

They are on friendly terms with their homeowner association (HOA) board members and they see value in the professional management services for which monthly HOA dues foot the bill. They get along well with their next door neighbors, easily live with existing rules and believe they get ample value for their monthly HOA dues.

"These findings don't suggest that associations are utopia, but it's reassuring to know that these communities are working from a solid base of support," said Howard Goldklang the president of the study's sponsor, the Foundation for Community Association Research, a nonprofit organization created by the Community Associations Institute (CAI).

In August, the Zogby International telephone surveyed 801 randomly selected adults who live in homeowners association communities, condominiums, cooperatives and other planned communities, collectively called "community associations" for the purposes of the survey.

An estimated 54 million Americans live in some 274,000 community associations, up from 45 million residents in 223,000 communities in 2000.

The survey found:

• Nine in 10 homeowners said they are on friendly terms with their association board members. Only 4 percent indicated a negative relationship. Also, 86 percent of community association residents surveyed said they get along well with their immediate neighbors. Only 5 percent reported negative relationships -- typically problems with pets, general lifestyle, noise and parking.

• More than 70 percent said they are satisfied with their community experience. Among them, 40 percent said they are "very pleased," and 32 percent said they were "pleased." Also, 20 percent expressed no point of view and 10 percent expressed some level of dissatisfaction.

• Some 80 percent of community association residents say their professional management company provides value to residents. More, 90 percent, say their interaction with management has been positive.

• The majority, 78 percent, says community association rules "protect and enhance" property values. Even more, 80 percent, oppose more government involvement, indicating government level regulation is sufficient.

• Dues or assessments, which pay for the cost of property upkeep and other expenses -- landscaping, trash pickup, street lighting, pools and tennis courts, etc. -- provide a good return in value, say 8

Among those polled, 53 percent pay less than $100 a month, 29 percent pay between $100 and $300 and 11 percent pay $301 or more.

"This data is very helpful for those involved in community association governance and management," said Michele M. Jerome, executive director of the Foundation.

"This sector of the housing market attracts millions of new residents every year and thousands of new professionals to the business of community association management."

Published: November 15, 2005

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Broderick Perkins parlayed a career in old-school journalism into a contemporary digital news service that really hits home. The award-winning consumer journalist, originally from Wilmington, DE, is founder, publisher and executive editor of the bootstrap DeadlineNews Group, a Silicon Valley-based editorial content and consulting service specializing in residential real estate, consumer news and related editorial consulting services. The DeadlineNews Group includes the website, DeadlineNews.com, offering real estate editorial content and consulting services, and its back shop, the Deadline Newsroom, an open house on news that really hits home. Perkins obtained his formal journalism education from University of Delaware and a journalism boot camp, the Institute of Journalism Education at the University of California-Berkeley. He went on to 20 years of service as a daily newspaper journalist at the Wilmington, DE News Journal and San Jose, CA Mercury News. Perkins covered housing on the San Jose Mercury News reporting team which earned a General News Reporting Pulitzer Prize in 1989 for coverage of the Loma Prieta earthquake. He has also produced real estate, consumer and small business content for the Wall Street Journal, Los Angeles Times, RealtyTimes.com, Nolo.com, Better Homes and Gardens, the National Association of Realtors, Homestore/Move and Intuit/Quicken among more than three dozen publications. In addition to managing the DeadlineNews Group, Perkins most recently served as chief editorial consultant for Nolo's Essential Guide To Buying Your First Home, Nolo, and writes real estate television scripts for RealtyTimes.com.