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HOA - Getting a sense of good vs terrible HOA?

Hi all, been thinking about taking the plunge after saving up quite a bit living with parents for the longest time.

Current Parent's HomeBeen living with my parents in a great stacked-townhome HOA community, monthly fees only went up from $146 -> $151 from 2016 - 2023 and it includes minor weekly spring/summer landscaping (grass cutting, shaping plants, etc.), snow plowing service, annual gutter cleaning for all houses, general area/exterior insurance, and trash. Nothing but positives from that experience. Nothing fancy, no gates, no utility included, community looked clean and taken care of untill now.

Potential Future HomeI'm about to put an offer in a gated community townhomes, and since 2015 - 2023 it has raised from $180/mo -> $238/mo -> $328/mo. It includes water utility, trash, parking, and only recently two new giant electric gates (which seems to be the driver of fee increase into $328/mo). Looking at the community, it's beautifully maintained and very clean. Not a single trash can out in sight, they're all hidden in a large wooden box that's picked up every week.

Questions

  • Does this fee increase alone seems like a red flag to many of you?
  • Any tips on finding out if HOA is going to be good or nightmare?
  • Home value has dropped from $700k sold in 2018 to $595k for the two home currently listed
    • One of which I'm interested in

​

This is in South Philadelphia Area by the water, so view and surrounding is very nice, and comps are at $700k. Thanks much for taking the time to read the post!

Appreciate any inputs that you'd love to share :)

submitted by /u/happyguy121
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/17kjqcz/hoa_getting_a_sense_of_good_vs_terrible_hoa/
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