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re: What are the pros and cons of HOA?
Posted on 4/30/24 at 11:48 am to fareplay
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.
1
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
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