[dougb5]

Too many people think of an HOA fee as throwing away money, but I think it's a net savings in a small and well-run HOA (and these do exist!). The money all goes to the upkeep of the building or complex with minimal overhead, so none of the fee feels wasted: it'd cost more to do it alone. A local management company charges a fee but they're local employees and it's better than trying to manage the books myself. Larger HOAs -- like where full-time maintenance staff is necessary -- can have very high fees, but, paying people fairly on an ongoing basis requires ongoing money, no matter how you slice it.

[merely-unlikely]

> well-run HOA (and these do exist!)

Part of the challenge is determining the quality of the HOA before buying, and that quality can change over time. And you may have minimal influence over it.