DIYbanter - View Single Post - HOAs

writes:

We're looking to buy a single-family (detached) house in the south
Denver metro area. Price range: $250-300K. Some properties that have
been coming up in MLS searches have HOA fees that pay for snow and
trash removal (most common), sometimes also grounds maintenance, (and
even a community swimming pool - don't need, don't care.) The HOA
fees would be anywhere from $30 to $170/month (paid monthly, quarterly
or annually.) An HOA fee itself would not be a deterrent for us, as we
always approach a deal from the total monthly cost of ownership
standpoint. However, the two big unknowns that we can think of a

- How much/how fast could the HOA fees go up going forward.
- How much pain in the @$$ could an HOA be, and how much control would
we have over the situation.

I know there is no one simple answer to these questions, every HOA is
different. But I would appreciate any input from people who've dealt
with HOAs before.

As you suspect, It depends entirely on HOA's. Every set of covenants
is different. HOA fees can go up, but it's something that gets voted
upon. The details of who votes and what's needed to win is part of
the covenants.

A Realtor with local knowledge of the area of Denver in which you're
shopping can be a great navigator of these things, and there's no
substitute for chatting up the neighbors when a particular house grabs
your attention. It's harder to do in the winter when fewer people are out though.

HOA's can be satan incarnate, but there's no way to avoid them in
attached home land. And keep in mind that the monthly fees represent
expense that you'll never see a return on. For example, if $170
covers a pool and fitness center you'll never use, look elsewhere.

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Todd H.
http://www.toddh.net/