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Do homes within HOA's appreciate as well as homes without an HOA?

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Do homes within HOA's appreciate as well as homes without an HOA?

Old 09-23-2018, 06:30 PM
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Default Do homes within HOA's appreciate as well as homes without an HOA?

My wife and I are considering a move and within that move some gated communities have popped up on our radar. We've never lived in a community with an HOA and understand full well the positives and negatives that come with these communities.

My question is, if we bought in a new/newer gated community that was professionally run/managed, would home prices/values rise as well as a community outside the gates? The areas we're looking in are almost exclusively in Florida on the west coast, mostly south of Tampa and north of Naples/Venice area with Sarasota being a good reference point.

I understand that communities vary greatly and this may be a tough question to answer, but if you've studied the market or are a realtor you may have some insight into the topic.

If you just want to bash HOA"s, wait, we know the drawbacks and might be willing at our age to accept what good they bring with them. This is just pertaining to home values and increasing values as the market heats and cools. I've done some research and I was surprised that in some areas communities that allow small dogs the values fall or don't rise as fast, large dogs gets even worse on rising resales. It also has been indicated that if you own the most popular style of home your increase will be minimal on resale while a home style that isn't seen around much has better resale.

Thanks in advance.
Old 09-23-2018, 06:41 PM
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In short resale isn't an issue where I live, nor is value. I'm not where you live, but people who don't want HOA don't buy in and people who don't mind will.
Old 09-23-2018, 08:04 PM
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In a good area it makes little difference IMO. In an area where housing quality is a mixed bag and there is very little zoning restrictions in place, it can help appreciation quite a bit.

Old 09-23-2018, 08:18 PM
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We passed on a house because it was in a HOA. Can't park boat in yard, no shooting in the back yard, etc. etc. etc. A few years ago there was a stink in Charlotte where the HOA got their panties in a wad because a guy mowed his own yard. Seriously. No thank you.
Old 09-23-2018, 09:12 PM
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When my family lived in Florida we lived in a deed restricted neighborhood with HOA's and monthly meetings. My neighbor next door had his tenants move out and his family move in and they fastly tore up the house on the outside leaving trash next to the house every week. Yes, We spoke with the family that lived there and it was a constant making them understand they can not do that. So we spoke with the homeowner he spoke with his family and he kept apologizing about the issue with them.

We kept complaining to the homeowners association and the lady who works for the HOA who hands out violations to the homeowners who are violation she even saw what was going on with them she did the best she could but they never understood and made the house look like the slums live there.

Living in a deed restricted neighborhood and HOA fees has it perks and downfalls such as no boats, trailers, can't work on vehicles or work projects unless you want to be in trouble with the HOA people and your neighbors that thrive on causing issues with you.
Old 09-23-2018, 09:18 PM
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I would suspect that the Sarasota area has had some nice appreciation in the last 10 years or so after the real estate crash. I would also suspect that pretty houses and neighborhoods would appreciate more than not so pretty ones but I don't know for sure.
Old 09-23-2018, 10:09 PM
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We just recently purchased a home and we would not even look at homes in an HOA. Location and size probably play more into rate of appreciation / depriciation than HOA.
Old 09-23-2018, 10:40 PM
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HOA be like "You know what? I don't think we have enough government. How about we give the neighborhood busy-bodies some control over your house!!" People who move there be like. "Oh hell yeah, sign me up! And here, why don't I pitch in a couple extra hundred per month for the privilege".
Old 09-24-2018, 01:39 AM
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All things being equal, for instance the caliber of the neighborhood, you will limit your prospective buyer to those accepting of HOAs.
Old 09-24-2018, 04:22 AM
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There are relatively few homes built in East Central Florida in the last 20 years that do not have some form of HOA. At least not until you get out into "the country". Some people are ok with HOAs. And some people (seems like most of THT) are not ok with HOAs.
Old 09-24-2018, 04:23 AM
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Originally Posted by Shag View Post
We passed on a house because it was in a HOA. Can't park boat in yard, no shooting in the back yard, etc. etc. etc. A few years ago there was a stink in Charlotte where the HOA got their panties in a wad because a guy mowed his own yard. Seriously. No thank you.
This would indicate that having a HOA has a positive effect on property values.
Old 09-24-2018, 04:37 AM
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HOA, not for me. Can't change the oil in my truck? Really?
Old 09-24-2018, 04:48 AM
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We live in an HOA and prefer it. We have access to 5 swimming pools / water parks, 2 fitness centers, a decent golf course, holiday parties with fireworks etc. At no additional cost which we see as an incredible value for what we pay. In addition to manicured parkways a boulevards, our own schools, parks, jogging trails, and additional security. The HOA neighborhoods in this area are in stark contrast to the neighborhoods whos reasoirces are provided by the county.

Yes there are rules, such as take down your christmas lights by the end of january, put away your trash cans, keeps your front lawn in decent order, etc. Most "normal" people don't have a problem with these common sense things. It does cut down on the ghettoness and redneckery by not allowing junk cars on the lawn and 20 trailers on the driveway however.

I bought my house 18 months ago and I am up quite a few points and houses are getting contracts in 45 days on average.

The gestaponess posted above is a suburban myth. If you are a decent hunan being, you should have no problem dealing with the "REGS". If you are a the kind of guy that doesnt care for your property, plan to have 6 families living with you, and park 2 boats, 4 snomobiles, a camper, 3 motorcycles and 2.5 pickup trucks on your front lawn, then maybe you want something in the unincorporated area.
Old 09-24-2018, 04:55 AM
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Where I live no difference but with pretty much all new construction homes falling within a HOA I could see the day where non HOA homes could carry a slight premium as there will be less and less of them.
Old 09-24-2018, 05:35 AM
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Originally Posted by Gullpt View Post
All things being equal, for instance the caliber of the neighborhood, you will limit your prospective buyer to those accepting of HOAs.
Exactly! It's a bit ironic that people justify HOA's saying that all of their restrictions help keep home values up, but their ridiculous rules, excessive fees, and internal politics turn away many prospective buyers, which in turn hurts property values.

I live in a nice area with no HOA, and despite having no rules, no one leaves cars up on blocks, and everyone puts their trash cans away. Most normal people will do this without having some association driving around looking for people to fine. And if the HOA decides to pursue some large, expensive legal action, everyone gets to help foot the bill, even if they don't agree with it.

Last edited by jobowker; 09-24-2018 at 05:43 AM.
Old 09-24-2018, 06:01 AM
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My mother in law lives in a very nice neighborhood with homes valued around $600,000. She's going to have trouble selling her home because there is no HOA. Her neighbors are slobs and their yards look like shit. One has a garden about 30x30 in their front yard thats about 3 foot high of nothing but weeds. Been like that for 3 plus years. He has two golf carts, one that works and the other sitting there with weeds growing around it. He has two boats randomly parked where ever he decides to stop and they have foot tall grass under them most of the time. A play set thats falling down and an above ground pool with pretty green slime water. There is more but you get the idea. At least with an HOA you know what your getting into prior to signing any paper work.

I also think the people that say you can't change your oil, cut your grass etc.... are pointing to very extreme HOA's which most are not.
Old 09-24-2018, 06:05 AM
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Since the OP wanted his question answered I will do my best. I live in HOA. I think your question is difficult to answer due to the housing issues of years past. My value is double what I paid 8 years ago but most properties around me are (I will say I live in a place people are fighting to get into due to location).

Read your rules and feel out the neighbors. In the 8 years I’ve been there I’ve seen 2 “fines” given out. One for Xmas lights not being down by Valentine’s Day, second Had something to do with party at the pool, don’t know details.

Im happy where I am. The people who paid triple what I did in 2006 probably aren’t and that gets taken out on the HOA IMO.
Old 09-24-2018, 06:09 AM
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In short, it may limit buyer pool, but I also have plenty of clients who only will consider homes in HOA (to avoid bedlam from neighbors) but it will not affect appreciation at all, unless the HOA its self gets a bad reputation via lawsuit, etc... Appreciation and value will remain comparable to the general area.
Old 09-24-2018, 06:11 AM
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IMO, an HOA adds value to a house in this area. This is primarily due to more consistency of the houses around you. When we were looking for a house, it was in the $1M+ range. I did not want to spend that kind of money to be next to a 50 year old bungalow with an overgrown yard (and we saw plenty of those options).

HOA's are not all inherently bad and full of people that want to hand out fines for stupid stuff. My gut feeling is that most people are fine with HOA's and it is a small outlier crowd that truly hates them and would not buy a house in an HOA under any circumstances. I think those people also tend to be less of the "neighborhood" types in general, which is fine (we had that mindset for a while and had a house in the country on acreage), pros and cons either way.
Old 09-24-2018, 06:11 AM
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If none HOA neighborhoods had higher values then builders would not build neighborhood with HOA's.

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