Homeowners Associations: Are they good or bad? Most will have a strong opinion one way or the other. There are about 249,000 community associations in the United States today, up from 205,000 five years ago, according to Community Associations Institute (CAI), an Alexandria, Va.-based organization whose membership includes homeowners, associations, management firms, and others involved in the community association industry. CAI estimates that 6,000 to 8,000 new community associations are formed each year and that more than 80 percent of houses built in the past five to eight years are part of an association-governed community. So, most have been in, or will be in a relationship with some form of Homeowners Association.
Many believe they are good. They keep your neighbors from lowering the value of your home. Most will not allow boats or RV's parked in the lawn. They can enforce yard maintenance so you don't have a jungle next door. Many rules are enforced under an HOA to keep your neighborhood looking nice and appealing. If you ever need to sell, you can really appreciate the HOA.
So where does the negativity come in? Individuality can be squashed. If you really want a fountain in your front yard, it probably isn't allowed. A pink house has been your dream? Not in this neighborhood.
The bottom line is that you MUST understand the rules and regulations of a community BEFORE you buy a house in it. If you own a pet, make sure you can bring him to your new home. If you own a commercial vehicle that will be parked in your driveway, make sure you are allowed to park it in your driveway. Thinking of turning your home into a rental years down the road when you move on? That may be prohibited as well. If you want the protection & ammenities offered by a covenant community, then you must find one that best suites your lifestyle.
And remember, just because a subdivision does not have a Homeowners Association, does not mean that it does not have a set of covenants & regulations. If the seller does not have them, check with the local county's clerks office to determine if any exist. Any covenants and restrictions recorded with the county can be enforced by neighbors through legal means.
Making sure you understand a community's rules is essential when buying a new home. Do not hesitate to ask your real estate agent to find out this information for you. A good agent knows where to find these rules and pass them onto you before you make the decision on where you will live.
Know your house, know your community, know the area. All important factors with your real estate purchase. Please contact
Vanderhoff Real Estate today. We would love to help make your next real estate transaction a success.
