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Old 04-19-2011, 01:45 PM
 
262 posts, read 841,319 times
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That's an interesting angle on how to view investment.

Will have to definitely do more research on what potential costs (HOA special assessment, I assume), that could entail.

I believe there are 2000 homes in Heritage Hunt, so at least the burden would be spread out over many many households.





edit: if golf course is chronically bleeding money, could HOA just sell the golf course and raise a lot of funds to put into the common account for whole community? I would guess it is still an asset worth a lot of money and somebody else would probably think they could run the place more efficiently and make it cash flow positive and profitable?
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Old 04-19-2011, 06:40 PM
 
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This is how the pipe thing was explained to me (keep in mind mom is not a plumber) - Apparently the problem is that they put the pipes to the external water spouts in a kind of up and down zig zag instead of straight, and they were poorly or not insulated. In the winter the water had to be sucked out of the pipe so that it did not sit in there and freeze, expand and burst the pipe. But due to zig zags it is nearly impossible to get all the water out. However, mom had the pipe fixed and insulated and plumber thinks fix is permanent and it only cost 100-200 dollars. So not a big deal. And apparently it is only the pipes to the outside spouts. so no water damage inside.

As for basements, my mom doesn't have one, so no problems there. No water problems anywhere or any other problems so far.

Golf course is kind of central to community - not that many residents play golf, but the clubhouse is very popular and most people like to take walks on the golf course (it's very pretty) in the evening. The HOA fee is incredibly reasonable when you consider the amenities, which are very significant. We pay higher fees (almost 3xs) for a small condo in Reston that doesn't offer a fraction of what HH offers. Social activities, events, gym, pool, golf course, walking trails, cable/phone, gate security, and more.

As for traffic, it is not a serious problem unless one plans to commute with the traffic on 66 at rush hour. Some people will claim that the area near HH on 29 is a mess of strip mall and construction, but the construction is temporary and the strip mall is actually a semi-town center that mom loves for the convenience.

The only thing I don't like so far is that the HOA is just a pain - very strict. But that doesn't bother my mom, so I guess it depends on the personality.
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Old 04-19-2011, 06:47 PM
 
262 posts, read 841,319 times
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Hi marie5v:

Thanks so much for taking the time to get that info for me; it is very, very much appreciated!

Regarding the strict HOA, I personally view that as a positive as it is a forced maintenace program for all homes in community. My condo association does that, but there is a townhouse community across street where I think outside of each townhouse is individual homeowner's responsibility, HOA is $15 / month, but there are lots of homes with roofs and external siding in really, really poor condition).

Thanks again, and if my parents eventually buy in that community, I will make sure they get plumber to insulate outside pipes like your mom did (seems like a very cost effective ounce of prevention). They have to sell their current home first, but from my preliminary research, it seems like Heritage Hunt will end up being a much smarter investment than Dominion Valley or Regency at Dominion Valley.

Last edited by mshan242709; 04-19-2011 at 08:06 PM..
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