Things To Look For In A Homeowners Association Contract Before Buying A Home
When searching for your dream home, be sure to take the time to find out if the home you are considering is in a neighborhood with a homeowners association. A homeowners association sets the rules and regulations for a neighborhood that all residents must agree to. If you do not agree to the bylaws of the homeowners association, buying the home may be impossible. The following guide walks you through a few things to look for when reading the homeowners association guidelines for the home you want to buy.
Look for a Driveway Parking Clause
There are some homeowners associations that limit the number of vehicles you can have in your driveway at any given time or prohibit nonoperational vehicles from being in the driveway. Also, some associations have guidelines that prohibit boats and trailers from being parked in the driveway. These guidelines are designed to keep people from having multiple broken down cars in the driveway, creating an eyesore in the neighborhood. Large boats and trailers can serve as homes for rodents or small animals during the winter, which makes the neighborhood less safe.
Look for a Yard Décor Clause
There are some homeowners associations that regulate the kind of yard décor you can have in your yard. This is to keep someone from putting up so many Christmas lights that it creates a nuisance for the neighborhood or to keep terrifying Halloween decor from scaring children on Halloween night.
Look for a House Color Clause
A house color clause in the guidelines ensures that someone cannot paint their home neon yellow just because they like the color. This would make the house an eyesore and cause the value of your home to depreciate because finding someone who wants to buy a neon yellow house may be difficult to do.
Look for a Fence Clause
Check to see if there is a clause that creates limits for the fences that can be built in the neighborhood. Some associations do not allow homeowners to build privacy fences because they can restrict neighborhood relations.
Homeowners associations are designed to help homeowners by keeping the neighborhood as nice as it can possibly be. The rules of the association were created by the residents of the neighborhood at one point in time and are often worthwhile if you take the time to consider what the neighborhood would be like without them in place. As you check out luxury homes for sale, make sure you can live with the homeowners association before choosing a neighborhood.
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