What Do You Know About Property
Key Facts Every Home Buyer Should Know About HOAS
After much scouring around with your real estate agent, you’ve finally found the perfect property.
It has everything you need. 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.
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 give your real estate agent the go signal to purchase the house, learn more about HOAS and why you should consider Stewart Realty.
What’s Up With HOAs? If your house is listed under an HOA, you’ll soon realize there are policies your house should follow.
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.
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.
But with the seemingly bad rep HOAs is getting, why are more people trying to get into this very limiting home owning arrangement in the first place?
Home owners choose to be part of an HOA because this institution can provide security and peace in the neighborhood.
All these policies about aesthetics and lawn care help maintain the value of homes in an HOA neighborhood.
It becomes the duty of the members of a Home Owners Association to come together to look after an empty house due to foreclosure. This allows the now empty house to somehow maintain its value thereby help the neighborhood not lose any.
Having private security guards in the neighborhood is one of the many perks in HOA living. 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.
For more information about the benefits of HOAs, do check out blogs from Stewart Realty.