Things You Need To Know About HOAS
You and your real estate agent have searched far and wide and have now found the perfect property for you.
It has everything you need. From a glorious master suite, to a very welcoming kitchen space, a basement men all over the world would drool over, and enough extra space all ready for renovation.
You just can not wait to pack your stuff and leave that very confining apartment unit into a rent free, landlord-less place you can absolutely call your own where no one can dictate what you may or may not do to it.
But if your dream home is listed under a Home Owners Association, you’ll soon understand that your decisions over what you can and cannot do with your house may be a little bit limited.
Before you get too excited about writing a massive cheque down so you can start renovating, take a few minutes to read about HOAS and Stewart Realty.
What’s Up With HOAs? You will soon find a handbook of things to do and not do with your house should it be part of an HOA.
Restrictions may include certain paint colors you can use on you roof, kinds of pets you are allowed to have, and plants you may grow. Usually they may have policies on lawn mowing and how often you should get that done as well as the number and kinds of vehicles you are allowed to park out front.
Surprising to most, an HOA also has power the deem whether or not you are a perfect addition to the association.
The United States has an estimated 350,000 HOAs operating today. That is over a whopping 40 million households all in all. That means HOA members make up over 50% than independently owned home owners in this country.
Home Owners Associations seemingly get bad rep all the time but why all the hype and why do home owners seem to flock to it instead of independently owning a house?
Despite it’s many restrictions also comes a lot of perks home owners are assured to enjoy like peace and security in the neighborhood.
Regulations that dictate your house’s look and its maintenance help greatly in protecting its value.
If a house is under foreclosure, members of a Home Owners Association will normally come together to look after it. This allows the now empty house to somehow maintain its value thereby help the neighborhood not lose any.
Having private security guards in the neighborhood is one of the many perks in HOA living. If it’s more perks you’re looking for to convince you further into getting your house in a HOA is the shared recreational facilities such as ball parks and swimming pools.
For more exciting perks and information about HOAs, read more blogs from Stewart Realty.