Just because there isnt an HOA or some other controlling body, doesn't mean that every other property is a heap, I have lived in some nice neighbor hoods up north where people don't even know what a HOA is.
The only good thing I can think of IMHO here about living in a nice well up kept neighbor hood, is to say you live in one. other then that, you're just spending more on property tax, spending money on HOA fee's and fines and are more likely to get robbed/vandalized or both.
Lets say for example you pay $3500 a year for property tax, plus $500 a month in HOA fee's in a nice very well up kept neighborhood on the good side of town for 20 years. That totals to $190,000 over the course of 20 years. Now lets say you live in purgatory, between the nice side of town and the bad side. The side that is know to be nice, but has a few problems which keep it from being as nice as the good side of town. say you pay $2500 in property tax, but the insurance goes up an extra $150 a month for living in that part of town. The total comes out to $86000 over the course of 20 years assuming nothing changes (goes up).
So out of all of that, how do you justify spending that much more, for the sake of a measly $100k difference in property value and the sake of saying you live in a good neighborhood? Maybe I'm simplifying things here and most likely you're situation is different, but the question still stands. I'm not trying to start an argument here, or say anyone is better then another, but the numbers are right in front of us and they only add up one way.