Quote:
Originally Posted by Hatterasguy
I would never, never, never, never, never, never, never buy a house with a HOA. I don't care if its the best deal and property in the world.
I don't want to deal with the BS.
As for keeping areas nice you don't need them. Just buy in nice established areas, they stay nice. You have to look at the demographics.
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I agree.
One of the scariest things about HOAs and the restrictive covenants that go with them is that they are perpetual. That is OK in a place like Reston, Virginia, where the HOA culture is a well-established, central part of the community. But what about subdivisions that don't quite prosper? What happens when the HOA falls apart and some of the neighbors decide to ignore the covenants and quit maintaining their property? In that situation the compliant owners have the worst of both worlds - they are bound by covenants and their neighborhood still looks like crap. And there is NOTHING that can be done about it until either the whole subdivision gets bought out and bulldozed or the world ends, whichever comes first.
Nobody ever accused me of being a savvy investor, but that doesn't seem like a good deal to me.