In the USA, can you lose your home even after it is 100% paid off?
In the USA, can you lose your home even after it is 100% paid off?
Let’s say that you buy a home in cash and have 100% paid off. Could you still lose it somehow?
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Why didn’t you choose to live in an area without HOA?
This is getting more and more difficult, sadly. Almost all new housing development is done by corporate / bulk build, which are almost always governed by HOAs
Yep. Something like 88% of new builds in the US are built from the start with HOAs.
Once you live there though you can vote to disband the hoa. Read the bylaws carefully and consult with a lawyer to see what local and state laws are (remember too you can change those laws and make hoa provisions you don't like invalid).
I only once lived under a hoa. I agreed because I had it in writing I could keep up to five cows on my property. (Not that o did, but it was allowed)
Because they’re full of shit
Don't buy a house in a HOA.
You're going to pay taxes no matter what, sorry to break that to you. Kinda surprised you didn't know that if you were going to pay cash for land.Edit. Lol guy blocked me for that? Lame
I don't know how it is everywhere, but in multiple areas I've lived, you can't just build your own house anymore. You either go outside of city limits and pay to get utilities out there, pull permits, the whole nine, or you buy a premade piece of crap cookie cutter house in the city, which usually comes with some form of HOA. Unless you got big bucks, most people simply can't afford a house outside of an HOA of some kind anymore.
That is highly dependent on the state. In every state, the majority of homes are not HOA. The worst is Florida with 45% of homes in an HOA, but the majority of states are under 20%.
What kind of shithole do you live in?
Pulling utilities is not that expensive. Sure it is tens of thousands ,but in a development it is nearly that much, you just don't realize it as those costs are bundled in. You get some of that back because rural areas allowed manufactured houses which are cheaper. (Careful, there are good manufactured houses, but the industry has earned their terrible reputation)
Fuck, I wish this were an option. It's like only HOAs in this god damn place.
there are some places without property taxes
Every single state in the US has property tax on homes.
woops, my bad. maybe im thinking of income tax
You still have to live somewhere and keep up with monthly payments there, right?
No, you can buy a land or house and just pay the legal taxes you owe. You are better off buying land and then living inside your car/mobile home then random parking lot.
I thought that was the issue… property taxes. That dodges HOA, which you could do with a house too, but as you say, not property taxes.
You do know HOA is a company and not a government entity right? These companies buy a lot of land and create different HOA policies. Buying land means you own the land, HOA cannot legally buy land that’s owned. There’s lots of newspapers reporting about it, sometimes being a joke.
I'm well aware of that, yes. However, HOAs usually insert a clause in the deed. People have tried fighting them and lost many times. Maybe some have won, idk. But personally I'd just buy land somewhere that doesn't have one.
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But it’s a secret?
Spoiler: he is homeless
I lived in my car for a while and wow, did I ever save on rent! Spent a lot on gas though.
Lol ok