HFWR
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I believe I’ve been talked out of getting a condo...
+1
I was treasurer of my HOA for 25 years. The main reason was I did not trust anyone else to do the job. People do not grasp the fact that whatever facilities there are in the common areas, they are for everyone whether they use them or not. A swimming pool is a good example.
And that swimming pool adds value to their property whether they use it or not.... as do other common facilities... and when those common facilities are substandard or in disrepair, they reduce values.
WE are glad to not be a part of a HOA anymore. They would make everyone stain their fence every 2 years which it didn't need and was a big job as the lots were big. They would drive by and if they saw a week in your front yard you would get a nasty letter and would need to have them come back and check it was pulled or get a fine.
There are many jealous folks who wake up in their 50's and realize that retirement is not going to be pretty.
Heck, a 30 something guy in the ice cream shop was upset that I was retired........
Bingo! They don't even think to ask the question, but instead assume you were lucky, or born into wealth...of course, he's working where?But I doubt he took advantage of the golden opportunity standing in front of him and asked, "Would you mind telling me how you did it?"
I don't think I'd care for a HOA that mandates the exterior condition without being responsible for it. I'd hate to give the HOA the authority but not the responsibility. ....
We are fortunate to live in a community with similar values, more luck than anything else. A bunch of later career folks, empty nesters, and retirees. We want to keep the place looking nice ...
But that is exactly why a HOA (or deed restrictions) that mandate exterior condition is valuable.... I know that I'm responsible and will keep the exterior of my place in good condition... but I don't know about my neighbors... or they may even desire to keep things tidy but fall on hard times and can't afford to... HOA requirements or deed restrictions help ensure that the neighboring home exteriors will be kept tidy... which has a favorable impact on my property's value.
Exactly.
Where we live an HOA is a very Good Thing and almost a necessity. The county's voters in their infinite [-]wisdom[/-] stupidity have twice voted down zoning, so you can buy a house and your next door neighbor is free to start a junkyard, bar, strip joint, or whatever will fit inside the building and land.
And some people are inherently slobs. A house two doors up from seems to be inhabited by candidates for the "Hoarders" TV show...
I frequently drive past a prime example of this and may stop some day and take a photo to post. Someone built and sold five very nice houses in a rural area - no zoning, no HOA. Four of the houses are attractive and well maintained but the middle of the five is an absolute disaster area with old cars, piles of junk and a yard that has never seen a mower.
Bet those four neighbors wished they had a HOA.
.... However, upgrading some common areas because they needed upgrading is different than upgrading to increase the value of the property for financial gain. ...
Our condos had shake roofs, and even though the roofs were 14 years old, we were plagued with leaks and roof repairs. We had a special assessment to replace the roofs with 40 year composition shingles. This resulted in lowering of the dues due to the lessening of reserve requirements.Our HOA just passed a special assessment for roof replacement (townhouses, so shared rooflines)
Got criticized by some new owners for not including the cost of the above in the regular monthly dues.
But the older owners wanted monthly dues as low as possible.
One wanted us to liquidate our reserve account (held for immediate, emergency expenses) & distribute those funds back to the owners...and he was a retired accountant!
That is a classic "pay me now or pay me later"A friend was just “ elected” to a condo board that never wanted to increase the dues, just wanted everybody to be happy. In my friend’s first year the insurance company threatened cancellation due to unsafe balconies and bad roof. The assessments were a killer.
And that swimming pool adds value to their property whether they use it or not.... as do other common facilities... and when those common facilities are substandard or in disrepair, they reduce values.
And that swimming pool adds value to their property whether they use it or not.... as do other common facilities... and when those common facilities are substandard or in disrepair, they reduce values.
Existing... but the point is that common facilities benefit all members, even members that don't use them.I think I got a bit lost here: are you talking about putting in a swimming pool or about keeping the existing swimming pool well-maintained?