What HOAS Is And What Every Home Buyer Should Know
After much scouring around with your real estate agent, you’ve finally found the perfect property.
It has everything you’ve always dreamed of. A master suite to die for, a kitchen that just screams perfection, the basement for every man, and more space that’s just ready to have your own personal touch to.
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 property is already part of a Home Owners Association, you’ll find that all that freedom about being able to do anything you want with your home may be a 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.
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.
Things like what colors are only allowed to paint your exterior with, the kind of pets you can get, and even plants you are allowed to 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.
It may come as a surprise, but an HOA may also have the authority to deem you a worthy home owner or not.
The United States has an estimated 350,000 HOAs operating today. 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.
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.
Normally, HOA hires private security guards to make sure there is peace in the neighborhood at all times. 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.
For more information about the benefits of HOAs, do check out blogs from Stewart Realty.