What are the pros and cons of HOA?

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.

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?

Shocker, an Aggie wants a daddy to tell him what he can and can't do.

Tracks.

Pros: nothing

Cons: everything

frick HOAs

Are they proven to maintain property values?

quote:

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TheOcean

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Found the neighbor nobody wants

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

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.

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.

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