I wasn’t complaining. As a matter of fact, I think this thread began by discussing the costs of homeownership. I prefer having a governed panel of homeowners that ensure my neighborhood doesn’t degrade resulting in my home devalued by a rental situation with 3 families living in a home with 8 vehicles parked in the lawn and lining the street. Perhaps read a post as it’s written, not what you want to jump at someone about….. eyes wide open my behind!!
Why owning a home is so pricey ...
- Thread starter GON
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Oh I wouldn't say that. My property taxes have gone up $4000 a year in two years.
Or the rules.
I live in a HOA controlled area and there are two specific rules that people have been trying to get changed for years - heck by now it's literally decades. The rules have been in effect for the entire existence of the HOA. The people who want to change them can't get enough signatures on a petition to vote to amend them. They think they get close and then have to start over because of the time that's passed; they have to verify that people who signed still own the property, which so far has meant tossing out everything and starting over because they lost too many signatures after the audit.
Personally, I've found it easier to buy into what I want vs. buying into something that's almost what I want and then thinking I can change things to suit me. But that's me...
I now return you to the original topic...already in progress.
There are countless threads on HOA's on this board. If you don't want to follow the rules - don't buy in. Read every word. Assume they will not change. If your not good with that, don't do it. I still don't understand how everyone wants to complain about them - they are generally not a mystery.Or the rules.
I live in a HOA controlled area and there are two specific rules that people have been trying to get changed for years - heck by now it's literally decades. The rules have been in effect for the entire existence of the HOA. The people who want to change them can't get enough signatures on a petition to vote to amend them. They think they get close and then have to start over because of the time that's passed; they have to verify that people who signed still own the property, which so far has meant tossing out everything and starting over because they lost too many signatures after the audit.
Personally, I've found it easier to buy into what I want vs. buying into something that's almost what I want and then thinking I can change things to suit me. But that's me...
I now return you to the original topic...already in progress.
I pay $790 a year. I get a community Olympic size pool with a zero entry corner, complete with covered gazebos and chairs. We have a clubhouse that can be rented out for basically a deposit - you leave it how you found it, you get your deposit back. And a number of other amenities.
It was definitely worth it when the kids were around, they used the pool frequently. Might not make sense once they leave but I have had very little issue with the HOA in general. Probably leaving for other reasons anyway.
I do have huge issues with the builder and the county - they changed the development plans after we bought in. Win some loose some.
And I thought mine going up 2800 was bad…….
HOA increases for condo owners are going to kill owners in 2025 due to law passed.
I know a woman paying $880 HOA per month on a 50 year old condo building in Hollywood, FL.
It’s going to break $1000 monthly in a few weeks.
Now many condo owners are trying to sell but there’s very little interest in buying a condo after the collapse in Surfside.
I know a woman paying $880 HOA per month on a 50 year old condo building in Hollywood, FL.
It’s going to break $1000 monthly in a few weeks.
Now many condo owners are trying to sell but there’s very little interest in buying a condo after the collapse in Surfside.
Challenge is government employees are not paid as well as private industry so you don’t attract top tier talent to run it. That won’t change…..
Owen Lucas
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IMHO many do it for the pension, slightly better than normal benefits, and knowing that they can (in some gov't jobs) do mostly nothing and get away with it. There is usually one guy in some department that handles 80% of the load. Lets find the most productive ones and cull the rest.
Ending WFH and moving offices out of DC should make a difference. Burst that beltway bubble! How will Biden's last minute executive orders will affect this and how can Trump counteract them? Who knows, I'm looking forward to seeing what happens.
And you would have more stress if you had a mortgage on top of that, right?
LOL if I had a mortgage I wouldn't be retired.
The issue is the buildings (condos) get old and they need work. You would have the same thing in a single family home. The thing is you can defer maintenance on your single family home-we have all seen houses that look like they are about to fall over. With condo associations-they have a tendency to not let that happen.
Your key word is "50 years old building".
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My property taxes and insurance as monthly cost now roughly equal my mortgage payment. Thankfully only 4.5 year on mortgage left.
Originally at home purchase it was half the mortgage payment.
Originally at home purchase it was half the mortgage payment.
You mentioned a few times you bought a starter home shortly after finishing college.
Tell that story to folks the same age that when you bought that house and they will find it hard to believe considering how crazy expensive housing is today.
Moved from Western New York to Texas and my wife and we have worked professional level jobs for 15 years now.
We had no opportunities up north and struggled to get by. I was doing data entry for $28k/year up north with a college degree.
We have federal/state/local retirement plans, as well as private IRAs, and excellent health insurance.
I spent a week up north seeing some family for Christmas. The ones who stayed are not doing as well. Same old same old every year, only with more kids to support and less income. We are not rich but I was glad to be able to buy lunch for everyone and dinner one night as well.
There are health benefits to living down south. I was outside swimming in a heated pool yesterday, and will play golf today, and the week before I spent freezing around a campfire up north.
People are just afraid of making any change.
Having two homes at the age of 73, I don't mind the expenses of maintenance and repairs, much of which I do myself. What ticks me off is the ever-increasing cost of homeowners insurance. Please don't lecture me about my vulnerable locations in NC and FL. Homeowners insurance premiums are up dramatically almost everywhere in the past 6-8 years. I get it. Insurers aren't in business to lose money, but the trend is still worrisome.
Many people like HOAs and the builder does not profit from HOA fees. Also once building is done, the community runs the HOA.
Many people want a pool and gym as well as other amenities and certainly makes the home more desirable to the majority of buyers both new and resale. Of course not all, I can tell you arent one of them! *LOL*
This is misleading for some (maybe not you), a CONDO HOA is completely different than a home HOA.She told me yesterday her HOA is now $1170 per month starting this month.
A Condo HOA is ALL Building Maintenance ex. roofs, landscaping, including having sufficient funds for emergency repairs. Such as the building collapse that took place in Florida. It's not the HOA to fault, it's choosing not to own your own home and co-owning an apartment style home (condo) instead. Sadly people make their own decisions and that is what being free is about.
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