There is no easy answer to that question. This is a definite, â€œIt all dependsâ€. I would suggest researching the pros and cons for both by Googling articles that already go into in depth analysis online so you know what to look for and what questions to ask. Then evaluate each community individually for financial stability, Board reputation, covenant rules, etc.. My personal choice is to live in a community with an HOA that has low costs monthly or annual fees. As equally important, is one with a sensible board, or at least one without a bad reputation. The last thing you want is a neighbor that moves in next door that works on cars all hours of the night. That could happen in a non HOA community.