Can the Future of Common Areas be in Farmland?
Farmland is beginning to displace golf courses in many new HOA communities across the US as the common area of choice. As the interest in local sustainable food increases, communities are jumping on the bandwagon to bring farmed food right to your backdoor! So how much will this new amenity cost the homeowners? Like HOA’s located on golf courses, these new farming HOA’s homes are not cheap. Many of the homes sell for over $500,000 and some up to the millions. In most of these farming HOA’s the land is leased out to a “farmer” who then farms the land. Oftentimes the HOA members get daily or weekly delivery of the farms products. In others, homeowner sometimes works on these farms. These are relatively new endeavors so it shall be interesting to keep an eye on their evolution.