Re:My township calls my lawn ‘a nuisance’ (2015)
by _red on Sunday March 19, 2017 @02:44PM
(#13908863)
Out of all the private gated communities in US with houses >$1M - what percentage of those have HOA's?
Point being, the impact on a $200K house may be negligible if its HOA or not - however once you move into >$1M home values they would be almost exclusively HOA. This is the self-evident part of the argument.
Re:My township calls my lawn ‘a nuisance’ (2015)
by BeetleB on Sunday March 19, 2017 @07:29PM
(#13910469)
>Point being, the impact on a $200K house may be negligible if its HOA or not - however once you move into >$1M home values they would be almost exclusively HOA. This is the self-evident part of the argument.
What percentage of HOA's are for >$1M houses? A small minority.
In my town, all the >$1M houses on sale right now have no HOA, BTW.
It wouldn't surprise me if nationally, HOAs are more correlated at the middle price range. Around 1 M most people don't like being told what to do. At the next level, sure, they probably exist just to pay for fancy country clubs or something.
You should know: When you say something is self-evident, you will be called out on it.
>HOA's exist because they work out financially better than the alternatives.
Definitely not self-evident. I've talked to real estate agents who do not agree that it affects house values. My neighborhood has no HOA. Lots of non-ideal lawns her. One block south of us they do have an HOA. Very neat lawns, and houses all properly painted. Those houses do not sell for more.
Perhaps it does impact the price of the house, but I'd wager it is a miniscule effect compared to all other factors (size, neighborhood amenities, schools, etc).
I find that most people who make the claim about property values use it as a post-hoc justification to wanting to enforce a certain aesthetic on others.