This isn't, at all, how most HOAs come to be in the US. Not even close.
Most HOA's are formed when a developer plats a subdivision. They attach the Covenants and other deed restrictions at the property at that time. They do it so they can maintain control over properties they have already sold until they have sold every property in the development. They want to maintain that control so they can cultivate the image for the neighborhood that maximizes their ability to profit from it.
This notion that HOA's get created for altruistic reasons is almost universally false, and should go away. Yes, some HOA's survive in a way that isn't toxic, but even that is really in the eyes of the beholder.
Most HOA's are formed when a developer plats a subdivision. They attach the Covenants and other deed restrictions at the property at that time. They do it so they can maintain control over properties they have already sold until they have sold every property in the development. They want to maintain that control so they can cultivate the image for the neighborhood that maximizes their ability to profit from it.
This notion that HOA's get created for altruistic reasons is almost universally false, and should go away. Yes, some HOA's survive in a way that isn't toxic, but even that is really in the eyes of the beholder.