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I'm not arguing that HOAs are bad or hurt property values. I am arguing that the effect of HOA presence on housing prices is negligible, except for how they force a homeowner to maintain his property beyond how much maintenance said homeowner would undertake in the absence of an HOA. But that effect is specific to the homeowner's house as I mentioned in my earlier post. If the homeowner is diligent, and he maintains his property whether he lives in an HOA community, or not, the HOA does little to contribute to the value of the homeowner's property.
Are there benefits to HOAs? Of course. The activities they encourage make the neighborhood a more pleasant place to live.
Should someone who highly values well manicured lawns and pleasant landscaping worry about finding a community with an HOA? Absolutely. Should someone who is searching for maximum return on his housing investment and who is a diligent homeowner regardless of whether he lives in an HOA community, or not, worry about finding a community with an HOA? I argue, no.
I've never lived in an HOA community, there aren't many of them around here. Lots in the midwest and south, I gather. Do HOA communities dictate whether you can have a garden, a home business, pets, and an outdoor clothesline???
I've never lived in an HOA community, there aren't many of them around here. Lots in the midwest and south, I gather. Do HOA communities dictate whether you can have a garden, a home business, pets, and an outdoor clothesline???
They can, but it varies from neighborhood to neighborhood. Some HOA's are very nonintrusive while others have strict guidelines. You can't lump them all together. You need to look at HOA rules on an individual basis.
I've never lived in an HOA community, there aren't many of them around here. Lots in the midwest and south, I gather. Do HOA communities dictate whether you can have a garden, a home business, pets, and an outdoor clothesline???
Some do, some don't. Read the fine print carefully. We found one that had rules we agreed with and nothing really 'out there' (like how many minutes you are allowed to have your garage door open for example!).
Most of them will not allow for a retail business, a good majority of them will not allow outdoor clothes lines (which is something we looked for, I hate seeing other's laundry). Most will also say that you have to have paved parking spots for how many vehicles you have.
The countryburbs will be the best bet. Most people prefer not to live in the city. Most people prefer to retreat to their homes after work. I would look at areas that have not been built up as much yet and may have new transportation routes added down the road. Phenomenal countryburbs such as Holly Springs, Fuquay-Varina, areas of Clayton and the unincorporated Willow Springs are tops on the list. These are some of the best places to live in the Triangle, other than say the creme de la creme of all places to live.......Cary. But Cary has already achieved a lot of its extra appreciation, so you will most likely do better in the long run in the other great locations I mentioned.
They can, but it varies from neighborhood to neighborhood. Some HOA's are very nonintrusive while others have strict guidelines. You can't lump them all together. You need to look at HOA rules on an individual basis.
When a house is listed for sale, are those guidelines spelled out in the listing? Or do you have to hunt them down (how do you do this) or will the realtor be up front about it?
When a house is listed for sale, are those guidelines spelled out in the listing? Or do you have to hunt them down (how do you do this) or will the realtor be up front about it?
The original covenants and HOA bylaws are public documents and are recorded and readily available. It can be confusing when the subdivision name is different from the name under which the covenants and bylaws are recorded, but that is not the rule.
The covenants and bylaws record at the courthouse can be linked to in the listing, or scanned and uploaded as a pdf, but it is hard to be sure that the most recent edition or most recent rule changes are all covered.
Some property managers have links to covenants on their websites. I wish more did.
Interpretation and aggressiveness of enforcement of the covenants is not typically subject to public record. And these items are very subjective.
The Realtor has to be careful about being upfront about very subjective items. It would be difficult, maybe wreckless, welllll crazy, to post in a listing "Very authoritarian HOA chaired by a bitter old bugger who has nothing better to do than to time how long your garage door is open."
When a house is listed for sale, are those guidelines spelled out in the listing? Or do you have to hunt them down (how do you do this) or will the realtor be up front about it?
I don't think they are usually included with a listing other than possibly the cost per year or quarter. If there's a community website...info might be there. Ihad my realtor ask for a copy of the covenants before I made my final decision
The original covenants and HOA bylaws are public documents and are recorded and readily available. It can be confusing when the subdivision name is different from the name under which the covenants and bylaws are recorded, but that is not the rule.
The covenants and bylaws record at the courthouse can be linked to in the listing, or scanned and uploaded as a pdf, but it is hard to be sure that the most recent edition or most recent rule changes are all covered.
Some property managers have links to covenants on their websites. I wish more did.
Interpretation and aggressiveness of enforcement of the covenants is not typically subject to public record. And these items are very subjective.
Very good info, thanks
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There is no doubt with this in the long run.
