Edit just to clear up: I don’t have a positive or negative opinion on HOAs. I know next to nothing about them. They’ve just been mentioned to me a few times by family members recently and I asked about aspect I didn’t understand
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It’s a restriction that runs with the land. Basically, when you buy a piece of property, you buy it subject to any conditions in the chain of title. If the deed says “anybody who owns this property must dance like a chicken during the full moon,” then when you buy the home, you agree to do that. If you don’t want to do that, don’t buy the home.
In some places, the HOA is optional and the HOA is mainly a social thing. My parents home was built in the 50’s, and the HOA sponsored the neighborhood bowling league and an Easter egg hunt.
In other places, the HOA is mandatory and does things like maintain common areas and enforce the community standards that everybody agrees to follow when they bought in (which also run with the land.). My HOA, for example, maintains the fountain in the center of our neighborhood and the community park. It also makes sure that people don’t leave boats on the street, raise chickens (yes, during COVID, some people though that was a good idea) or plant bamboo.
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