The bank:
"Awe, that's cute!"
this post was submitted on 04 Aug 2025
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and the HOA.
and climate change induced superstorms and wildfires
And my axe?
Die Axt im Haus erspart den Zimmermann. - The axe at home lets you skip the carpenter.
Is it a requirement in the US to join the HOA?
If you buy a home in which an HOA is already established, then yes, it's required. And good luck finding a neighborhood where one isn't already established. If you get a small enough town or cheap enough neighborhood, maybe.
It’s funny that the ‘right to work’ exists to dismantle unions, but somehow no-one has thought of a ‘right to live’ to combat HOAs.
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In many neighborhoods; yes.
Mortgage is just rent with another name (I know it's not quite that simple, but it feels that way sometimes)
Nah. Pay off your house and its yours.
When do you pay off your rent? When you die.
Most people never do pay off their house.
You have a citation? At least when they sell the house they definitely pay it off and then some.
Been living without mortgage or rent for over 10 years myself.
No I don't. I hope you're right, cause mine feels forever away at this point.
Mortgage ends one day. Paid off my mortgage 10 years ago.
Even if you don't stay long enough to pay off, when you do sell, you get to have more proceeds from the sell than you owe.
If you only are going to stay in a place 2 or three years though, probably not worth it.
Squatters have entered the chat.
Debt pay back time.
HOA gonna pop that bubble real quick.
PSA to homebuyers: Even if the HOA has reasonable rules now and is run by your neighbors, don't expect that to continue when they get older and want to pass off management to a company who will make life a living hell.
much better PSA, don't buy a house that is in an HOA. HOA's are the devil, and they are a great example of why the adage that local control is best, is total bullshit.
Agree. Moral of the story is basically that every HOA has the potential to suck, so don't take the extremely substantial risk that it will in your lifetime. Just buy a different house.
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Imagine buying a house with an HOA.
Imagine buying a house.
Thank god I was able to. Was sick of paying for someone else's investment.
Annoyingly house prices decided to surge right when I got a job that would have allowed me to afford one (pre-surge).
Yeah dude, same boat.
Imagine living in the US ... Awful
Thank god I don't.
Unless I move out to the middle of nowhere, there's not many options for me that don't have an HOA of some kind. Wish I could avoid them, but unfortunately too ubiquitous in the states.
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It's cool right up to the day something breaks and you realize that you are the landlord now.
My landlord will fix any problem I point out to him, as long as I am willing to wait somewhere between 2 weeks and however long I hold the lease.
Then you pay for it and still come out ahead.
It have a home maintenance plan for more predictable cost and renting like experience, and coming less ahead than renting, but still somewhat ahead.
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And every day, something new breaks.
I'm currently working through getting everything fixed and sorted following an intense hail storm and it's become very apparent that I've taken on the role of property manager by daring to own my own home. Honestly a pain in the butt at times. Long term it's worth while but yikes!
lol you literally reposted this minutes after I made it.
ok ok, you have good joke, I turn into bad joke.
"When"
lol
Just a quick example here. Mortage payment I make (or did make, we sold) was 6k a month.
Now sure, I'm getting equity, but it's by no means quick. The bank is making a killing. Of that 6k, we are bringing down the principal by something like 800 bucks a month. The bank is taking 3k and the rest escrow and PMI.
If you buy a house. Be sure to be able to put 20% down. This will bring your payment down a ton.
Try for the best interest rate you can. It'll be a shitty 7 or higher % for now, and at least until the bubble pops again. Because it will and it's getting close.
Then, you get an endless list of repairs and improvements. But if things start to break, make cheap repairs, then save up to replace. Update your kitchen and master bathrooms. These things sell houses. Never keep your house out of date or you won't get the return you want.
Good luck out there to home owners. It's a good asset to have, but only if you keep up with maintenance and updates.
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