Many months have passed and now you and your real estate agent have finally hit gold and found the one.
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.
However, you find your dream home to be part of a Home Owners Association, you’ll soon realize that you might not have all the freedom to do what you wish with your house as much as you would like.
Before you give your real estate agent the go signal to purchase the house, learn more about HOAS and why you should consider Stewart Realty.
Will HOAs Ruin Your Chances At Creating That Perfect Home? 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. More policies include how often you need your lawn trimmed, or the number of cars you are only allowed to park on the road in front.
An HOA, to your surprise, may have the authority to deem you worthy to be a part of that association.
There is an estimated 350,000 HOAs in the United States alone. That is over a whopping 40 million households all in all. That’s more than 50% of independently owned home in the country.
With those numbers you’d think home owners would avoid Home Owner Associations like the plague but instead they all seem to flock to it so what’s there to consider?
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.
It becomes the duty of the members of a Home Owners Association to come together to look after an empty house due to foreclosure. Some negative spillover might take affect with foreclosing houses so this HOA trait can greatly maintain the neighborhood’s value.
As mentioned above, HOAs hire private security which assures everyone peace in the neighborhood. Another wonderful perk of being in an HOA is having shared recreational facilities like a multi purpose hall for parties and gatherings, ball parks, and even a swimming pool.
Stewart Realty offers information about HOA living so do check out their blogs.