Living in a neighborhood where there is a Homeowners Association comes with its own set of challenges. While some might appreciate the added security that comes with having an HOA, others might be taken back by the rules that they could enforce. There are usually rules that control what your home looks like, what your yard looks like, what you can build and many other things.
In some areas, there are troubling developments where the HOA has the authority to do a non-judicial foreclosure against homeowners not paying their dues. This has in some cases led to families losing their homes with very little warning. If you are moving into an area where there is an HOA, make sure that you do the research. You can discreetly speak with your future neighbors to find out how they feel about their HOA. You can also find out whether or not there have been many foreclosures in the area since this can be a bad sign.