When you finally by your own house
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Imagine buying a house with an HOA.
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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and the HOA.
Is it a requirement in the US to join the HOA?
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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.
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The bank:
"Awe, that's cute!"
Squatters have entered the chat.
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and the HOA.
And my axe?
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Is it a requirement in the US to join the HOA?
In many neighborhoods; yes.
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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.
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Congratulations! You will now work off that debt for the next 40 years! 🥳
wrote last edited by [email protected]Better to work off that debt over 10-30 years (which is what mortgages usually run for, not 40) and then be able to sell the house and get your money back than paying rent for 10-30 years and have nothing.
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Better to work off that debt over 10-30 years (which is what mortgages usually run for, not 40) and then be able to sell the house and get your money back than paying rent for 10-30 years and have nothing.
True, also best to not pay off your mortgage. It is a line of credit if worth more than you owe. Once you pay it off that credit line is gone.
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The bank:
"Awe, that's cute!"
Debt pay back time.
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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.
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It's cool right up to the day something breaks and you realize that you are the landlord now.
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And my axe?
Die Axt im Haus erspart den Zimmermann. - The axe at home lets you skip the carpenter.
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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.
What about like multi property buildings? Like townhomes or condos?
Don't those always come with an HOA?
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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.
I get possession of my first house this Friday, very happy to say HOAs aren't really a thing in Canada
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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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It's cool right up to the day something breaks and you realize that you are the landlord now.
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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Imagine buying a house with an HOA.
Imagine living in the US ... Awful
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Mortgage is just rent with another name (I know it's not quite that simple, but it feels that way sometimes)
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.
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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.
