[quote=Happs]. . . What increases property values and what is a waste of money?[/quote]
Happs, there are many, many SFR subdivisions in established areas of SD county which have longtime (solvent) HOAs.
Often, the average “dues” are $300-$500 annually which pay for maintenance the common area, however many acres it is. MANY of the homes within them have been remodeled, re-roofed, re-concreted and repainted, all with successful HOA approval.
In the absence of MR, I don’t think a SFR HOA (if the annual dues are less than $500) is a deterrent to a prospective buyer. I think many prospective buyers appreciate that they won’t be looking at RVs and boats parked out front and purple houses if they were to live there.
In a prospective buyers’ eyes, I think the overall look and feel of the subdivision wins out over the HOA balance sheet, if the HOA has been reasonably prudent over the years and doesn’t have any liability other than the common areas.
I don’t see a new buyer placing any value on the HOA purchasing those new community items, unless they are so rusty that they cannot be sanded/repainted. Not if it means the annual dues will go up over $500.
I really believe $500 is the “magic number” for annual dues for those HOA’s with SFR owners who take care of their own landscaping and have their own mailboxes with no other amenities other than possibly hiking trails in the open space. If your HOA is more than 20 years old, I don’t think prospective SFR buyers in a well-established HOA would care enough about a community pool or clubhouse to want to pay higher dues for them.
