I live in an HOA governed community near Washington D.C. , and almost all of the board members are ex-military or retired from civil service at the Pentagon. The way they spend money is just the way they did when working for the government. They make absolutely no attempt to negotiate a contract for anything, but they put great emphasis on the process of bidding, and drafting ridiculously detailed contract specifications without the slightest understanding of what performing the job actually entails. It dosen’t matter that all the bids are inflated because of our reputation, or that the laboriously crafted specs are complete bunk, it’s the process that counts. Not one of them has actually had to run their own business or manage a budget or face completion, because they all worked for Uncle Sam.
Mine is somewhat different.Our Board Chairman,I came to learn *after* I bought,has spent lots and lots of time in courtrooms...state and Federal.Sometimes he wins,sometimes he loses.The Boston Globe has written a feature article about his family (three generations) that has revealed breathtaking financial amorality.What his family has single handedly done is to allow this complex,located in one of Boston's most desirable residential suburbs (and within a 2 minute walk of a commuter rail station to Boston),to deteriorate nearly to the level of public housing.
This is my first condo. For 30+ years I owned single family houses.I've learned a very expensive lesson...when talking condominiums there's a lot more to consider than just location,location,location.