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What are the pros and cons of HOA?
Posted on 4/30/24 at 11:46 am
Posted on 4/30/24 at 11:46 am
I know you all hate government of any sort and would rather go back to stone ages but for some of you that don’t, is it worth it?
I see some ranging from $10 a month to $500+ a month. Is the dollar amount representative of how much control they have of your property?
I see some ranging from $10 a month to $500+ a month. Is the dollar amount representative of how much control they have of your property?
Posted on 4/30/24 at 11:48 am to fareplay
The $ amount is usually in conjunction with the common areas that need maintaining in the shared neighborhood. My old neighborhood our annual fee was $300, but we had to pay for road repaving, which is quite expensive once every 10-15 years.
My new neighborhood is $250 a year, but no road maintenance. We just spent $15K on a new entrance sign.
My new neighborhood is $250 a year, but no road maintenance. We just spent $15K on a new entrance sign.
Posted on 4/30/24 at 11:49 am to fareplay
Depends on the HOA. You better read the agreement and know the most petty of petty mother frickers will be riding around enforcing it to the letter. You want people policing your landscaping? The color of paint on your house?
Posted on 4/30/24 at 11:49 am to fareplay
pros:
they help keep the property values up in the neighborhood with the rules/regulations.
cons:
they have rules and regulations.
for example, do you really want your neighbors to run mechanic shop out of their front yard or let their grass grow to over a foot tall? what does that say about your neighborhood if you do?
they help keep the property values up in the neighborhood with the rules/regulations.
cons:
they have rules and regulations.
for example, do you really want your neighbors to run mechanic shop out of their front yard or let their grass grow to over a foot tall? what does that say about your neighborhood if you do?
Posted on 4/30/24 at 11:50 am to fareplay
Pros...it doesnt allow my neighbors to do whatever they want
Cons...it doesnt allow me to do whatever I want
Cons...it doesnt allow me to do whatever I want
Posted on 4/30/24 at 11:51 am to fareplay
Shocker, an Aggie wants a daddy to tell him what he can and can't do.
Tracks.
Tracks.
Posted on 4/30/24 at 11:53 am to fareplay
Generally-speaking HOAs are a good thing for neighborhoods.
That said, they certainly can create some headaches… especially for people that don’t like to be told what to do.
That said, they certainly can create some headaches… especially for people that don’t like to be told what to do.
Posted on 4/30/24 at 11:53 am to fareplay
Pros: nothing
Cons: everything
frick HOAs
Cons: everything
frick HOAs
Posted on 4/30/24 at 11:55 am to fareplay
They make sure the clubhouse is wheel chair accessible for people like you.
Posted on 4/30/24 at 11:55 am to finchmeister08
Are they proven to maintain property values?
Posted on 4/30/24 at 11:56 am to TheOcean
quote:
TheOcean
Found the neighbor nobody wants
Posted on 4/30/24 at 11:56 am to TheOcean
I have friends who live out in the country. They have a 60s era modest home that they keep up well. Some of the surrounding neighbors have tons of junk stacked up in their yard. My friends would probably pay a few hundred bucks a year to ensure their drive in looked better.
Posted on 4/30/24 at 11:57 am to kywildcatfanone
If it is a mandatory hoa, be very careful of signing the property rights over to the hoa. When hoa board turnovers happen, the new board will be interested in causing change which is funded by you. If the hoa board has a history of penalizing owners, they will eventually penalize you. If you sue the HOA, you will be funding your lawyer and the opposition lawyer through assessments.
The hoa is not just a social club. They are the effective owners of your property
The hoa is not just a social club. They are the effective owners of your property
Posted on 4/30/24 at 11:57 am to fareplay
quote:
Are they proven to maintain property values?
I’d be interested to see statistics (I don’t have them), but my educated guess is that communities with HOAs overall maintain higher property values over time… seems to be logical that would be true
This post was edited on 4/30/24 at 12:02 pm
Posted on 4/30/24 at 11:59 am to fareplay
You want HOAs to keep properties in check but you don’t want HOAs who have a power trip. Set rules and check on the big things once a year. The HOAs that check monthly are ridiculous.
Posted on 4/30/24 at 12:02 pm to JPLSU1981
quote:
but my educated guess is that communities with HOAs overall maintain higher property values over time
Enough to offset the monthly extortion payment?
Posted on 4/30/24 at 12:02 pm to fareplay
We bought in a neighborhood with no HOA. I wish we'd bought in a neighborhood with one. I hate my neighborhood and the people who inhabit it.
Posted on 4/30/24 at 12:02 pm to fareplay
Please do your research on the board. Some HOA’s are old asses that have ZERO business sense. I’ve been associated with three in my lifetime. Two were horrible and one was great. Bad ones can absolutely affect the value of your home.
Posted on 4/30/24 at 12:03 pm to nola tiger lsu
I've seen HOAs completely frick over owners with absurd penalties/fines. Then they tack on their bullshite attorney's fees. So many times. I'll pass on having some old retired hack tell me what I can/can't do with my property
Posted on 4/30/24 at 12:08 pm to TheOcean
If you have a neighborhood pool or any kind of entrance gate, those repairs and upkeep can be pricey
Plus they maintain common space areas
Plus they maintain common space areas
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