I've seen many conflicts on this, and there are arguments on either side of the topic. But, are there any studies or data anyone can point me to about HOAs and property value? Does the existence of an HOA truley help maintain or increase a property's value? Specifically single-family where there is no common-area to maintain.
I dislike HOAs myself, but can appreciate what they try to accomplish in terms of keeping a neighborhood uniform and clean looking.
With that being said, it ultimately comes down to the pride of ownership from the neighbors. I've seen non HOA neighborhoods where everything is clean and no one paints their homes crazy colors or parks cars in the front yard.
HOA's in my area tend to be in newer subdivisions and those areas have an inherently higher value of property due to having newer homes and being in the better parts of town.
Thank you Bob. I agree, we have a nice neighborhood. Values are high. Several of the neighbors are saying they moved here, because there is no HOA. But few are saying we need to create an HOA in order to keep our values high. I'm just not sure the data supports that.
Don't know of any data that measures property value with/without HOA's...learned from experience that a neighborhood with an unpaved common road is challenging to get every property owner's "fair" share of gravel purchased.
Pride of ownership, with no official HOA, means that those most able/willing (able is questionable sometimes) to buy and spread a load of gravel on the community road often falls on the shoulders of a few property owners. Those that bought in a community for the "beauty and well maintained private road", often are the ones that fall short on putting a priority on helping fund the "well maintained private road".
Don't know if people just don't understand that private community roads require preventive maintenance, or just don't care so long as someone pays/does...at least no one in the community has put up political signs.
People I've met seem to be very for, or very against HOA's. Few want to be governed by an HOA, and yet they want the property values that are often protected by having an HOA.
Thanks. In the specific case I'm referring to, there is no common area to maintain.
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