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re: What are the pros and cons of HOA?
Posted on 4/30/24 at 12:54 pm to fareplay
Posted on 4/30/24 at 12:54 pm to fareplay
quote:No, the dollar amount is based on what type of community amenities and expenses the HOA pays to maintain. Gated entrance, security guard, neighborhood pools, greenspace, playgrounds, etc.
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?
Also (at least in LA), if your neighborhood is gated then the parish won't pay for costs to maintain and repair roads. It becomes the HOA's responsibility, so they have to factor future costs for repaving and repairing roads into HOA dues.
If you neighborhood has more amenities, then your HOA dues will be more expensive. If the neighborhood doesn't have any community amenities and the only HOA expenses are to maintain a small amount of landscaping at the neighborhood entrance, then your HOA dues will be pretty cheap.
Read the HOA bylaws and neighborhood covenants before you buy. The cost of your HOA dues have no bearing on how much control they have. If you know someone who lives in the neighborhood, that'll help get an idea of whether the HOA is run well or if its dysfunctional and/or run by a bunch of Karens / Kens that have nothing better to do than write up violations for petty shite like your trash cans being visible from the road.
Pros = keeps property values up by preventing neighbors from doing trashy looking things to the exterior of their property...like gaudy paint colors, ugly exterior modifications, leaving boats and trailers parked in front of the house.
Con = poorly run HOA's are a headache. Either from not properly maintaining the amenities you're paying for or because they go out of their way to find petty stuff to give you a hard time about
ETA: also, HOA's for condos have higher dues because those HOA's are responsible for the cost of insurance and maintenance for all of the building exterior and unit owners are only individually responsible for their unit's interior portion to insure and maintain.
This post was edited on 4/30/24 at 12:57 pm
Posted on 4/30/24 at 1:01 pm to Tiger Prawn
The problem with HOAs is losing rights to your property. No way am I comfortable with that happening.
Posted on 4/30/24 at 3:48 pm to Tiger Prawn
quote:I own a condo in a development comprised of only stand-alone single owner structures in it. The HOA there does not take care of any of the buildings’ exteriors or insurance the structures.
ETA: also, HOA's for condos have higher dues because those HOA's are responsible for the cost of insurance and maintenance for all of the building exterior and unit owners are only individually responsible for their unit's interior portion to insure and maintain.
My fees are about $350/month (seriously) as there’s a bunch of green space that requires a lot of maintenance.
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