Home Owner Association Restrictions - Read Before Buying
Many communities have associations for homeowners, property owners, condo owners, or similar associations. The presence of a homeowners association, also known as HOA , introduces another layer of rules and regulations to consider when buying a home. Some people love these associations and some hate them.
Homeowners Associations
Some associations have very simple rules such as no abandoned, non-working motor vehicles and no grass above ten inches tall are allowed. Others have architectural review boards that must approve your paint scheme before you can repaint your house. I m serious.
I was once looking at a townhouse with a potential buyer, and a neighbor knocked on the door to hand deliver a notice that the door had
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Some associations add a significant amount of cost to the home purchase via high monthly, quarterly or annual dues payments. An aggressive association may also attempt to issue levies on homeowners for improvement projects. My husband and I once looked at a penthouse condo on the outer banks of North Carolina. I was reviewing the annual budget for the
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If you are considering a property controlled by an association, watch out for the following:
1. Sometimes associations limit what
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2. If the association allows pets, it may limit the hours they can be outside.
3. Parking places may be assigned coupled with an aggressive towing policy.
Some associations maintain pools, tennis courts, elevators, trash collection, snow removal, grounds maintenance, provide bus or limo service, concierge service, and in general make life pleasant and trouble free. While these are nice benefits, make sure you are comfortable with the costs associated with them.
Look Before You Leap
So, as you can see, whether your concern is protecting the value of your investment (no junk cars), maintaining your freedom to choose (you want an eggplant door, a place to park the company truck, and/or to build an addition with a family room and
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