Bear
Well-Known Member
The pros and cons, pluses and minus of buying / investing into a property covered by a HOA.
I do not live in one. I do have lots of family and acquaintances who have contracted to live by the standards of an HOA. Also, if you decide to live in retirement America signing a HOA agreement is a given.
So any experiences worth this forum !!
DO THEY ENHANCE VALUES?
ARE THEY A HASSLE, WORTH THE 'STANDARDS' IMPOSED?
or any other issues.
Just a quick factual opening for a level understanding: "a homeowner association is a private association formed by a real estate developer for the purpose of marketing, managing, and selling homes and lots in a residential subdivision. It grants the developer privileged voting rights in governing the association, while allowing the developer to exit financial and legal responsibility of the organization. Typically the developer will transfer ownership of the association to the homeowners after selling a predetermined number of lots. Generally any person who wants to buy a residence within the area of a homeowners association must become a member, and therefore must obey the several restrictions that often limit the owner's choices. Most homeowner associations are incorporated, and are subject to state statutes that govern non-profit corporations and homeowner associations." https://en.wikipedia.org/wiki/Homeowner_association
I do not live in one. I do have lots of family and acquaintances who have contracted to live by the standards of an HOA. Also, if you decide to live in retirement America signing a HOA agreement is a given.
So any experiences worth this forum !!
DO THEY ENHANCE VALUES?
ARE THEY A HASSLE, WORTH THE 'STANDARDS' IMPOSED?
or any other issues.
Just a quick factual opening for a level understanding: "a homeowner association is a private association formed by a real estate developer for the purpose of marketing, managing, and selling homes and lots in a residential subdivision. It grants the developer privileged voting rights in governing the association, while allowing the developer to exit financial and legal responsibility of the organization. Typically the developer will transfer ownership of the association to the homeowners after selling a predetermined number of lots. Generally any person who wants to buy a residence within the area of a homeowners association must become a member, and therefore must obey the several restrictions that often limit the owner's choices. Most homeowner associations are incorporated, and are subject to state statutes that govern non-profit corporations and homeowner associations." https://en.wikipedia.org/wiki/Homeowner_association