I understand what HOA’s do, and was first introduced to the term in a condo building (not mine). I understand in a condo building, or high rise, you’re all sharing one building and need to contribute to that building’s maintenance. But I don’t understand HOA’s in neighborhoods…when you live in your own house. Is it only certain neighborhoods? I know someone who lives on a nice street in a suburb and there’s no HOA. Who decides if there is one, and what do neighborhood HOA’s exist for? Are you allowed to opt out?
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Some neighborhoods have shared land. Basic maintenance and taxes are a bare minimum cost for residents to split. The residents may also choose to add amenities to the shared space and can split those costs as well.
Apart from that, certain neighborhoods may make their own policies to maintain a given state. For example: an agreement that no one will paint their house a strange color.
There’s no reason any neighborhood couldn’t do this if all were in agreement but it is most commonly implemented when the neighborhood is first created.
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