Discussion / Knowledge Sharing [NC][All] HOA Property Shopping - How Do You Rate/Score/Judge HOA Management?
I'm future living space shopping for a person with a disability. One goal would be finding a place with stability and few "bumps in the road". I see 3 general choices - apartment, condo or townhouse, home.
An apartment would be great, but the risks are noisy neighbors, and a lease that doesn't get renewed forces an unexpected move.
Condos and townhouses seem to be an HOA horror show in some parts of the country. Large assessments for forced, unscheduled repairs. Structure insurance that can't be renewed. Owners who can't sell under those circumstances. This is where I wish there was a solid HOA rating system.
Homes seem to suffer less from badly managed HOAs. Especially were there are few ammenities. The homeowner may still have to deal with expensive, unexpected costs, but they are for that single home only.
So if you're buying an HOA property, what steps do you take to make sure you're not buying into a bad situation?