During the excitement of searching for a new home, home buyers find themselves faced with a ton of choices to make. A small yard requiring less maintenance or one spacious enough for the kids to tire themselves out from playing? Granite or Laminate Countertops? Three bathrooms or will two suffice? Does it really matter if there’s no porch or do you need somewhere to sit and enjoy the sun setting? The home with the pink tiled-bathroom that desperately needs updating but has an awesome location or the home 40 minutes away from the place of business with the freshly remodeled bathrooms and kitchen? Choices. Choices. Choices. With all these choices concerning the style of home, its location, and its features, one choice is seldom considered before hand. Should you choose a subdivision where there is a home owners’ association or not? It’s important to know what living in a neighborhood with an association entails before making a commitment to buy a home there.
Home Owners’ Associations, composed of home owners in the subdivision, act as the governing body of the neighborhood. Each home owner pays an annual fee ranging from anywhere around $150 and up, at times in the thousands. The Association serves as The Enforcer. Nothing goes on without it going through them first. Its job is to ensure the value and cohesiveness of the neighborhood, and if anyone violates the code, they will be annihilated. Okay I’m joking about the annihilation part, but, they are really serious about the rules and regulations, also known as covenants, conditions, & restrictions.
Some associations have more rules and regulations than others, which may or may not be a plus depending on your perspective. Stricter associations regulate the colors that you are allowed to paint your home or front door, how many cars can be parked at the residence, noise ordinance, the ways in which you can manicure your yard, fence height, the number of pets you can have, and sometimes pin pointing the types you can’t have, and so on. Each association is different which is why it’s so important to get a copy of your desired neighborhood’s specific home owners’ association’s documents before you agree to purchase a home. This will prevent you from a.) wanting to back out of the purchase of your new home once you’ve had time to review the rules and regulations because you feel they’re too strict b.) being fined because you violated the rules and regulations because you wouldn’t oblige by them c.) being forced to sell your home (you read that right) because…you wouldn’t oblige to follow the covenants, conditions, & restrictions.
There is no right or wrong answer when it comes to where you choose your next home. Some home owners don’t want to chance the possibility of a decrease in home value because the neighbor decides he prefers his trash on his lawn instead of in his garbage can or chance the possibility of being subjected to a deviation in neighborhood uniformity. Other home owners don’t want to feel restricted or under close scrutiny by neighbors. To each his/her own. If you do choose a neighborhood with a home owner’s association, please remember to ask your real estate agent to obtain a copy of its covenants, conditions, & restrictions so that you’re aware of the requirements of living in that particular neighborhood.
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