A Homeowner Asks, If ‘99% Of People’ Hate HOAs, Why Do They ‘Continue To Grow In Number Across The Nation?’
Benzinga and Yahoo Finance LLC may earn commissions or revenue from some items through the links below.
A recent topic posted on Reddit received hundreds of comments from homeowners reacting to a simple but pointed question about homeowners associations: “Has anyone ever wondered why 99% of people hate HOAs, yet their numbers continue to grow across the country?”
The answers revealed how deeply divided Americans are on the issue of HOAs.
More HOAs, Less Options
One top commenter answered the question directly: “People don’t choose to be in HOA, some are forced to because there is no other available housing.” Another added: “If you sort for ‘no HOA’ on Zillow, the results are significantly reduced. This sucks.”
Don’t miss:
Accordingly HOA-USAThere are more than 370,000 homeowners associations in the United States, covering more than 40 million households. This accounts for more than 53 percent of owner-occupied homes nationwide.
Much of the debate centered around how to do this. new houses are being built. Cities and counties are increasingly requiring developers to include HOAs in new subdivisions to avoid having to cover the costs of roads, parks or drainage. “Cities love HOAs because then they don’t have to be responsible for maintaining roads and services,” one commenter wrote. Another said: “Municipalities require HOAs for new developments. That’s pretty simple.”
Depending on the subject, developers also benefit from this. By forming HOAs, they maintain control over the community until a sufficient number of homes are sold, preserving property values during the early sales period. Some described it as a financial win for everyone involved except the homeowners who were stuck. pay dues and obeying rules they did not make themselves.
Trend: Arrived Home’s Private Loan Fund has historically paid an annual dividend yield of 8.1%*, This provides access to a pool of short-term loans backed by residential real estate with a minimum of $100.
I Love Consequences, I Hate Rules
Some Redditors agreed that HOAs aren’t that bad. “Everyone hates HOAs that keep you from doing what you want,” one person said. “Everybody loves HOAs that keep someone else from doing something you don’t want.”
Others agreed. “99% of people don’t hate HOAs. 99% of Reddit hates HOAs. Luckily Redditors don’t accurately represent the USA,” one homeowner wrote. Another shared: “Have you ever had a neighbor park a rusty trailer on the street or blast your bedroom with Christmas lights all night long?”
Many commentators have pointed out that, like it or not, HOAs aren’t going anywhere. “Almost all new construction consists of planned single-family developments or high-density housing and, by definition, also has an HOA,” one wrote. “HOA numbers will ultimately only increase over time. They will never decrease.”
See Also: Earn While Swiping: #1 Software Company in Deloitte Rankings 32.481% Grow Opens $0.50/Share Round to Accredited Investors.
Despite the horror stories, many homeowners are happy with the situation. “I love my HOA,” one person said. “Neighbors can’t park in their yards. Landscaping is uniform and enforced. Homeowners’ insurance is 10 times less… Noise, feces, pets, lights… all manageable and enforceable.”
So why do HOAs continue to grow? Because they make life easier for cities, help developers sell homes, and resolve neighbor disputes before they turn into property value disasters.
Read Next: An EA Co-Founder Is Shaping This VC-Backed Marketplace—You Can Now Invest in Gaming’s Next Big Platform
Image: Shutterstock
This article A Homeowner Asks: ‘If 99% of People Hate HOAs, Why Do Their Numbers Continue to Grow Nationwide?’ originally appeared Benzinga.com
