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 is everything and more. From the pristine masters bedroom, a kitchen everyone would envy, a basement that just screams man-cave, and more space you’ll like want to get your creative hands on.
You’re just aching to escape that dreary and cramped apartment unit into a place of your own where no one will nag you over rent and more importantly, tell you what you can and cannot do with your decorating choices.
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 cough up a huge chunk of money from your bank account, read on to know about HOAS and how Stewart Realty can help you with this predicament.
What Is HOAs and Is It A Problem? There are many policies every house should adhere to if it’s part of an HOA and you should be aware of them.
Particulars such as the color of paint you are allowed to use on your house’s exterior, the trees you are allowed to plant, even the pets you can have. Other policies include scheduling of lawn mowing, and the number of vehicles you may park on the road outside your house.
An HOA, to your surprise, may have the authority to deem you worthy to be a part of that 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 there are more members of an HOA than those owner-occupied homes 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?
Home owners choose to be part of an HOA because this institution can provide security and peace in the neighborhood.
HOA home owners are assured to be able to maintain their home’s value with the help of these seemingly troublesome policies about aesthetics and maintenance.
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.
As mentioned above, HOAs hire private security which assures everyone peace in the neighborhood. 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.
Stewart Realty offers information about HOA living so do check out their blogs.