Poll. Own or rent in retirement?

[W2R]

Ask some of the neighbors what the HOA is like. My experiences in condos was mixed and in home communities it was universally awful.

Human nature being as it is, I find that people want to justify their own decision (to live in a community) to themselves. So, I would tend to view any neighbor's glowing statement with considerable skepticism.

Lawn service is realllly cheap compared to HOA dues.

True, although lawn service is also really cheap compared with total landscaping services. Right now I am only paying $30/mow for my lawn service, but keeping the rest of the landscaping neatly trimmed, weeded, and under control is just wearing me out. Of course when I move north, the jungle like outrageous growth of everything and the need to constantly be cutting things back will be less (thank goodness). During the past five years I have been so busy with cutting back that I haven't planted one single thing. Banana trees grow feet per week down here. Ugh.

No more HOA's for me. They seem to often draw the sort of busybodies that want to tell everyone else how to live.

THAT's what turns me off about them the most, not the money or even the assessments (although regular money outflow after ER that could be avoided is not my idea of a really smart move, for me). I don't like people like that and I sure don't want to put myself in a position of having to interact with people like that. ICK!!

 

[Peaceful_Warrior]

But how do you know for sure that they are well run, and will be in the future, before you buy and commit to (hopefully) a lifetime living there? Do you really trust your real estate agent or other residents (who may be trying to justify their decisions) on something as important as that? I wouldn't. I really don't like the control issues that HOA's often seem to be able to exert on a whim. And just when you haven't had any assessments is when the Big One could arise.

With the previous HOA, it was only 8 people... small, cheap, and therefore I had an actual 1/8 vote on all issues. Few HOA meetings unless some major issue came up, but they typically collected enough in HOA dues to ensure that assessments were few and far between. They only raised HOA dues once, from $170 to $195 so they could have a little more buffer because every member of the HOA actively wanted to avoid assessments. I voted for the HOA increase based on the issues presented.

With the current HOA, I talked with the person who was previous director of the board for several years. We walked around the neighborhood a few times a week and talked with different neighbors.

Also one thing we liked was reading the HOA newsletter as it gave me a feel for the general nature of the HOA.

You can never be "too" sure with HOAs, but you can do enough research into their financials, their neighbors, and their CC&Rs to get a good idea of whether or not the HOA is likely to be a benefit or a detriment.

Always find out how often assessments have been, for how much, check out the balance sheets and income statements... treat the HOA like a business you're thinking of investing in, because that's ultimately what it is... a business agreement.

 

[Peaceful_Warrior]

Lawn service is realllly cheap compared to HOA dues. A lot of major exterior renovations require special assessments, so you end up paying for the work anyhow.

Current HOA does all landscaping, including gutters during the winter, etc. Replace roofs, repaint houses, and no assessments to cover it. They have it all budgeted in the HOA dues... a cycle where each year certain houses get their new paint, new roofs, etc. Sometimes even houses that look like they don't "need" it get it because it's their turn and it was budgeted for.

For $150/month, I can't argue with that. I did the math, and it does cost a little more (assuming I do need a repaint and new roof at least once while I live here for several years), but in the end not having any hassle for the aspects of maintenance I want the least to do with is well worth it.

 

[chinaco]

I voted in the poll. We will own a home. But, we will rent our snowbird dwelling instead of buy.

 

[donheff]

OTOH we have rented our snowbird home for 10 years (two months), but next year we intend to spend 6 months there, so we purchased our Casa in the sun because the economics made sense. I am looking forward to some Home Depot trips until we get it personalized, but it should be manageable because it is a condo. Oh and it has proximity to shopping, the beach and jungle, handy transit, 3 minutes to downtown.

I have been interested in PV for a while so I checked out your place -- nice, but you need to fix your links. You list a price for Dec 15 - Mar 15. Are you renting it out then and going down yourself later?

 

[chinaco]

I owned a home for 30 years and loved it until the last 5 years. All the upkeep finally started to wear on me (acreage with 5000sq.ft home).

...
OTOH we have rented our snowbird home for 10 years (two months), but next year we intend to spend 6 months there, so we purchased our Casa in the sun because the economics made sense.

Thanks for sharing the pictures and info.

I have been to PV a couple of times... most recently back in 2003. The maps you show helped jog my memory... I think drove up through that general area... Nice views.