I despise these home owner associations. (McLean, Vienna: apartment, HOA fees, new house)

[dbncoold]

Buying a property with an HOA is letting stupid idiots control your life. It's bad enough to deal with the federal, state, and municipal governments, let alone dealing with pests that have nothing interesting in their lives besides watching their neighbor's yards and license tags AND paying them large monthly fees to do it.

The argument for HOAs is very weak. Just look at the market values of houses that don't have HOAs. They are usually much higher than homes with HOAs, even though they are older. Seriously, HOAs are a scam.

[spencgr]

Originally Posted by dbncoold

The argument for HOAs is very weak. Just look at the market values of houses that don't have HOAs. They are usually much higher than homes with HOAs, even though they are older.

Can you please show me an example of comparable homes where the non-HOA home is "much higher" than the HOA home? In the NoVA region........

[dbncoold]

Sure. Just take a look at the renovated single family homes in the old sections of Vienna, Springfield, and many other areas inside the beltway. They are easily getting $0.5M and more. Lots with brand new homes can bring over $1M. I've seen brand new HOA single family homes go for about $.6M. It all depends on location too of course.

[kww]

Originally Posted by dbncoold

Sure. Just take a look at the renovated single family homes in the old sections of Vienna, Springfield, and many other areas inside the beltway. They are easily getting $0.5M and more. Lots with brand new homes can bring over $1M. I've seen brand new HOA single family homes go for about $.6M. It all depends on location too of course.

those homes have often times double to triple the sq footage, along with being 50 years newer. the land alone to purchase that home is probably close to the next door neighbors raised rambler.

if those same homes were in HOA outlined neighborhoods, they would still sell (assuming the right buyer came along). but to say that they are selling at a higher pace due to their non HOA stature is a fallacy, imo

edit*

i wont even touch on the comment about buying into an HOA neighborhood is letting stupid idiots control your life

[spencgr]

Originally Posted by dbncoold

Sure. Just take a look at the renovated single family homes in the old sections of Vienna, Springfield, and many other areas inside the beltway. They are easily getting $0.5M and more. Lots with brand new homes can bring over $1M. I've seen brand new HOA single family homes go for about $.6M. It all depends on location too of course.

Brand new HOA homes of the same size in the same area are going for 600K?

[Lucky★]

Many of the non-HOA so called "McMansions" are defacto group homes or apartments. They have value as income properties, but they devalue the neighborhood.

[kww]

Originally Posted by Lucky★

Many of the non-HOA so called "McMansions" are defacto group homes or apartments. They have value as income properties, but they devalue the neighborhood.

any documentation to back that up?

[dbncoold]

Originally Posted by spencgr

Brand new HOA homes of the same size in the same area are going for 600K?

well normally they would not be in the same area because they sell as single lots not suitable for HOA subdivisions (fortunately).

[dbncoold]

Originally Posted by kww

those homes have often times double to triple the sq footage, along with being 50 years newer

Exactly. And that makes them a fair comparison with newer homes in HOA subdivisions.

[pit2atl]

Originally Posted by dbncoold

Buying a property with an HOA is letting stupid idiots control your life. It's bad enough to deal with the federal, state, and municipal governments, let alone dealing with pests that have nothing interesting in their lives besides watching their neighbor's yards and license tags AND paying them large monthly fees to do it.

The argument for HOAs is very weak. Just look at the market values of houses that don't have HOAs. They are usually much higher than homes with HOAs, even though they are older. Seriously, HOAs are a scam.

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