what are the pros and cons of a homeowners association?

Answer 1

In a condo or a townhouse condo (which are both technically condos), you share the common area maintenance with the other owners.
On the plus side, your landscaping, snowplowing, exterior repairs, etc. are taken care of (usually) by a management company or a vendor picked by the management company.
On the downside, you have to pay a condo fee, usually every month, you may have common walls (and noises) with neighbors, you might smell your neighbors' cooking, interior repairs are generally your expense. Finally, you have to agree to live under a certain set of rules (usually called 'house rules').
House Rules govern what you can and can't do as it relates to the condominium community. Some are reasonable and some are strict. House rules may cover things from pets, parking, (visible) window treatments to whether you can hang a towel over your balcony to dry or whether you can grill outside.
Typically, townhouses have fewer common walls. For instance, the only common wall I share with my neighbor (in a townhouse community) is my bedroom wall is the other side of his garage wall. I've never heard anything but the door opener.


IMPORTANT:
Make certain that you read and are willing to live by the House Rules. They may prohibit pets, for instance. Also understand that house rules can be changed.
Make sure that you know what is covered by the management company or association and what isn't. For instance, I don't have to shovel my walk but in other communities I might.
Get a copy of the Homeowners' Association audited financial statements and make sure that they are and have been financially sound. Make sure that they maintain a funded capital account for large repairs (roofs, repaving parking lots)
Get a copy of a document called the 'Master Deed' which also may contain some restrictions.
Have your lawyer and/or accountant review them.

And finally, be willing to tolerate the politics of small minded people whose only authority in the world is that they serve on the Condominium Board. There's a good reason that this is the peak of their authority....

Answer 2

Pros? I actually dont believe that there are any, unless you are the president. The president lives mortgage free. The dues collected actually cover the presidents' mortgage. SO you end up living in a neighborhood where you have a nosy superintendent, same as an apartment manager.. If I had known what this was about before I built the home, I never would have. They lie and say that they are only concerned about keeping the neighborhood beautiful, however there was a complaint lodged about a neighbor of mine that had a lovely upper deck built that essentially covers the lower patio, and this jerk (superintendent) was the one who lodged the complaint. He whinned about the homeowner building this deck without the associations' consent. Mind you, the president wanted it removed. It is a $7000 deck. I think it actually was jealousy, but what can you do?

Answer 3

no matter if you pay the prices or no longer is as a lot because the association. some have a volunteer value. the pro's are many, the community has criteria and the biggest reason is it keeps up your houses value. In the different community that is a crap shoot. you may have the most appropriate abode on the block, yet when your bonehead neighbor has a deliver contained in the driveway, lengthy grass, falling down fence, and a motor vehicle up on jacks, you'll not in any respect promote it. Neighborhoods with institutions can stress conformity by technique of regulation.

Answer 4

I work for a builder and have not belonged to one. I see them as restrictive and arbitrary. If you have a good one in place, meaning established, it's probably better than one just starting out. There can be things in the rules that you may think are allowed and they are not. Also, costs are uncontrollable to you and if you cant pay the dues, they have late fees and can lien your property.

Answer 5

Pros: An organization that keeps a certain standard in the neighborhood.

Cons: An organization that dictates rules to keep people out or levy petty fines against people in violation of their rules.