HoA
For those who own property with HoA, how much is the avg increase per year?
Depends
From $0 to More than $0.
But never, ever, less than zero
We’ve it reduced from 80 to 70 to 60 over last 2 years. Hoping for 50 next year
Never buy a place with hoa.
Counterpoint: Always buy a place with an HOA
Why? You of all people seem like you wouldn't enjoy giving your money to others and then being told what color you can paint your house or if you are allowed to rent it?
$30/month and they care for the front lawn. Or if you are in the Bay Area, $600/month for jack fucking shit.
HOAs are the scum of the housing industry. No one ever knows why the fuck they cost you so many hundreds of $$$ every month. More than often they are full of political shitshows and drama.
The cost is never a mystery
They are legally obligated to produce financial statements that explain how every dollar was spent. You are not legally obligated to read it.
So what exactly is the high HoA money used for? I regularly see 500+ as HoA. Is it for external building repairs, roof repairs, window cleaning, gutters, what?
Not unusual in a building with a doorman or with great amenities (pool, sauna, gym etc). You can ask for the (audited) financials of any condo that’s on sale. In many states this is required to be audited.
Not to beat this HOA point to death, but I wouldn’t recommend buying a SFD as a vacation home/non-primary residence. To be clear, a vacation “home”, not a vacation “rental”
i use the hoa to build a pool in my backyard
Literal money pit
Nice thing about HOA, they have a pool you can use for free with your membership
They’re all different