Homes in communities with HOAs may command a 5% to 6% higher sale price than similar homes in communities without an HOA, according to data from the Cato Institute, a public policy research think tank. “Community associations work to maintain and enforce rules that protect the overall appearance and quality of the community,” says Dawn Bauman, chief strategy officer with the Community Associations Institute and the executive director of the Foundation for Community Association Research. “Well-maintained properties and common areas often lead to higher property values, as the neighborhood remains attractive to prospective buyers.” Community associations also can “foster a sense of community” through organized social events, neighborhood gatherings, volunteer opportunities and committee appointments.   Read the article…………………………….