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After 2 years in Las Vegas, I am almost 100% anti-HOA, but some of the properties in Eastman/Grantham look gorgeous at great prices. Anyone care to share their experiences?
We're commuting to Lebanon/Hanover, renting in Etna right now.
Similarly curious about the Quechee neighborhood on the VT side.
Most likely we'll find something to buy that's not part of an association, but wondering whether there are hidden positives to consider.
A friend was looking into Eastman. She found many/most of the houses are vacation homes or rentals (empty much of the time). Can't remember what percent. The woman at the Eastman real estate office can tell you. Or look it up on City Data main web site.
You would also be increasing your commute quite a bit to live there.
Also they plow the roads as part of your monthly fee but not the driveways.
HOA's really can be problematic. Aside from fees always going up, special assessments can kill you. Eastman is more of a vacation place & like ansible90 pointed out; the place is more than half empty. Not a great environment to live in IMO.
You really need to compare taxes in each town your looking at for similar properties. NH property taxes can vary widely by town and no income tax, but Vermont has income tax issues and high property taxes to compare as well.
You need to do your homework through research. Picking the wrong town could cost you quite a lot of money.
Unless you are prepared for high property taxes (many properties are assessed at values too high based on reality) and high association fees of ($240-260) a month- I would look elsewhere. If you like Grantham I would look at Sunapee, Newbury, or New London instead.
I think if you are renting then you are fine with either. But if you are buying, be REALLY careful... those association fees and requirements (how much you HAVE to spend at the restaurant each year for instance) can make resale of a home very problematic. Every single person I know who owned in Quechee had a miserable time selling their home.
I think that's why you see so many rentals in these places... it's easier to keep and rent then resell.
I think if you are renting then you are fine with either. But if you are buying, be REALLY careful... those association fees and requirements (how much you HAVE to spend at the restaurant each year for instance) can make resale of a home very problematic. Every single person I know who owned in Quechee had a miserable time selling their home.
I think that's why you see so many rentals in these places... it's easier to keep and rent then resell.
What do you mean about having to spend at the restaurant? What restaurant?
One disadvantage I see with Quechee is your monthly fee is supporting a ski area and golf course that you may or may not use. An HOA without these expensive amenities might be cheaper.
What do you mean about having to spend at the restaurant? What restaurant?
One disadvantage I see with Quechee is your monthly fee is supporting a ski area and golf course that you may or may not use. An HOA without these expensive amenities might be cheaper.
You are paying dues that support the Golf Course and the facilities including the Restaurant at TQC. There is some sort of quid pro quo between your dues and eating there. At least that's how I've had it explained to me by multiple people who have owned there.
But now that I'm looking for the details I can't find them. I don't mean to misguide anyone so I'll just say to read all the paperwork VERY carefully before buying into either HOA.
Stay away from HOAs. The last thing you need is another group of people from the "Department of Making you Sad" intruding upon your life.
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