The wife and I are looking to buy some land (5-10 acres) in Central Texas and are noticing that about half of the lots we find are in in neighborhoods... not your typical neighborhood with sidewalks and mailboxes, but a bunch of multi acre sized lots. Not sure if there is a nickname for these or not. Each has HOA fees, but with a huge range (30 month - 400 month) that is proportionate to the shared resources. We have seen some have high fences and claim to have exotic game roaming the area.
So I have to ask, what are the pros/cons to these types of developments?
Off the top of my head some would be
Pro: your neighbors wont decide to open a junk yard
Con: have to get all buildings/etc approved
As we aren't really looking to get 25+ acres, which would allow us to be so far from our neighbors that what they do wouldn't be visible... the idea of living in one of these neighborhoods sounds appealing, just wanting to make sure that we aren't overlooking anything.
Also, is there a tax reason for the exotic animals?
So I have to ask, what are the pros/cons to these types of developments?
Off the top of my head some would be
Pro: your neighbors wont decide to open a junk yard
Con: have to get all buildings/etc approved
As we aren't really looking to get 25+ acres, which would allow us to be so far from our neighbors that what they do wouldn't be visible... the idea of living in one of these neighborhoods sounds appealing, just wanting to make sure that we aren't overlooking anything.
Also, is there a tax reason for the exotic animals?