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.
It’s been your dream to get out of that impossibly confining apartment unit into a place of your own where you are the master and you do whatever you want with 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.
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.
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?
A lot of people still choose HOAs because they are assured of peace and security in the neighborhood they live in.
All these policies about aesthetics and lawn care help maintain the value of homes in an HOA neighborhood.
If a house is under foreclosure, members of a Home Owners Association will normally come together to look after it. This helps maintain the neighborhood’s value and avoid negative press about the now empty house.
Having private security guards in the neighborhood is one of the many perks in HOA living. 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.