I'm Sick Of My Homeowner's Association


I have often heard that many homeowners are discontented with their homeowner’s association. I believe that people wanting to build homes should seriously consider the advantages and disadvantages of living in a homeowner’s association.

There are many benefits to living in a HOA though. The biggest advantage is constant rising property values. This isn’t always the case, but homes that reside within a HOA have a much better chance for property appreciation than do homes outside of the HOA.

The reason is because the president of the HOA is constantly trying to find a standard of home styles and construction that will improve the prices of the homes inside the association. There are many homebuyers that are completely willing to buy into the HOA just to have the confidence of knowing that the property values will continue to rise.

People that join the HOA are usually the type of people that keep the home and lawn well kept. They enjoy living in a beautiful community where they know the neighbors and they enjoy the feeling of living around people just like themselves.

It’s very important to understand the local economy before buying into any HOA though. This is because home and property values depend on the local economy. Without a stable local economy, home values within any HOA will usually stagnate or decline. Nobody wants to go through the hassle of being at the beck-and-call of the HOA president if his or her home won’t appreciate in value.

Remember, no home will appreciate in value very long if there aren’t good jobs constantly available in the community. Usually, a HOA will exist where the local economy has promise. Still, I’ve seen many that exist in drying-up communities in terms of the job market. If you see a good deal on any home where the labor market is questionable, you need to ask yourself if it’s a good idea to buy that home.

Also, we need to remember one thing; just because we have a stable job doesn’t mean the local economy is thriving. Our hard-earned mortgage payments might have diminishing returns if our neighbors are struggling financially. The value of our homes could plummet without warning. That’s why it’s a good idea to consider living where the jobs are and the job future has promise.

Now let’s talk about the downside of living in a HOA. If we are the type of person that has trouble taking constructive criticism or we don’t like being ordered around, the HOA is definitely not for us. The experience will be one of fights and losses.

There might be times when you don’t have a dime to your name, but you’ll have to fix a part of your house or a fence or driveway. You will have to find the money from somewhere to do the repairs.

Also, your neighbors will most likely act like they did in 3rd grade when they notice that their neighbor isn’t complying. People in these homeowners associations feel empowered as long as they comply with the rules. They feel as if the actions of their neighbors directly affect the value of their homes. That is actually the truth though and some people get really childish as they run to tell on their neighbors.

People that have difficulty living within these conditions should probably choose to live on their own private property with all the rights that go with it.

I hope this sheds a little more light on a very popular means of homeownership.

Building homes in Phoenix, Arizona is a very different process than purchasing a home already constructed. When you buy a finished home, even if it’s a home under construction by a developer, you don’t have to worry about special financing. But managing your own construction is a little different.

There are some fabulous lots available for homes in Phoenix, Arizona. For homeowners that want to build a custom home, the mountains and desert vistas offer an amazing backdrop for a custom, luxury home. But custom homes require a little advanced financial planning.

Building a home requires slightly different financing. Most people finance their building process with a construction loan. These loans have milestones that must be met before some of the funds are available. Usually, these funds are kept by the lender until each step of the building process is completed.

While building a custom home is one of the most exciting steps in home ownership, it requires advanced planning. Most of the planning concerns how you are going to meet the financial expenses needed to complete the home. When you are building your custom home, there are different expenses to consider.

* You may need money for a down payment on the land and you need funds for the closing costs of the loan.

* You may need money for loan payments and taxes.

* You may need funds for an architect, for the house plans, for permits and licenses.

* You may need to continue to pay your mortgage payments or rent and homeowner’s fees.

* You may need additional funds for material upgrades. All too often you’ll find better flooring, appliances, or unique kitchen cabinets – all of which require cash up front to place into your new home.

* You will need to plan for project cost overruns. Even the most thorough home budget won’t eliminate project overruns. You should plan for your project to be at least 10% to 25% over budget, at a minimum.

It’s possible to build your dream home, especially when it’s in a remarkable environment like Phoenix, Arizona. But it does require a little planning and probably a little savings or money in the bank. Once you’ve finished planning and begin the construction process, you’ll have a home that is just as unique as you and your family. Imagine how you’ll feel when your house is done. All that planning and saving will pay off when you are living in your dream home in Phoenix, Arizona.

Gary Ogami has over 13 years experience working in the financial services industry. He has worked with hundreds of individuals and families to find mortgage options that work for them.

He prides himself on making the mortgage process as easy as possible for his clients and is very passionate about helping them save money and develop a strong financial foundation.

Now is common that people renovate their house. If the property owner is not work in the construction sector, the owner may not know how to look for a “Good” building contractor. The owner may go through recommendation. Somehow, sometime the recommendation may end up with trouble. How to avoid this to happen? Below is some recommendation which may help owner.

When ask contractor to quote the construction works. Bear in mind that looks for few contractors to quote but not too many (around 3 to 4 contractors). Compare pricing of them. If they quote for market pricing, their prices should not vary much. If one of them quotes much lower then others. As for example most of them quoted around *RM100, 000 but one of them quotes RM60, 000. Owner should NOT choose this contractor. It is possible that it has some tricks hiding behind such as contractor will gain the difference from additional cost of construction works.

When project is small, owner will not prepare contract document for contractor. A lot of works will be based on verbally discussion. Therefore, it will end up with arguments. As a result, it is recommended that write down all the scope of works and pass to contractor to for acknowledgement.

Normally owner will not know how the performance of selective contractor is? Therefore, one of the easy ways to track the contractor performance is by checking on the contractor’s previous project. Do have a visit to previous project and visually check contractor works done. If possible has a short discussion with previous project owner. Asking this owner about the contractor performance?

Owner must know the contractor say about “BAU”(take care all the works) the project. It must be clearly justify avoiding any dispute.