Traditional HOA Rules
Are you looking at a property that is part of a Homeowner Association (HOA)? Here are some of the traditional aspects the HOA controls or puts rules on.
Paint – In order to keep a community or neighborhood clean and consistent, the HOA will often times restrict the color paint a home is allowed to be colored. In other areas, the HOA will actually maintain the paint themselves to keep the area looking orderly.
Common Areas – Many communities monitored by an HOA have common areas including pools, tennis courts, parking lots, or parks. HOA fees, which are paid by the homeowners usually on a monthly basis, help cover the costs of maintaining these areas.
Window Coverings – Another way a Homeowner Association keeps the neighborhood looking uniform is by regulating the window hangings that can be seen. For example, often times window hangings can only be a certain color or might even be required to be a specific style.
Curb Appeal – Want to live in a neighborhood with great curb appeal? An HOA ensures that the area maintains a clean and orderly look thereby increasing the curb appeal of your home. This can make a huge difference when it comes to selling your property later as potential buyers could likely be more attracted to the area and its cleanliness.
Research the neighborhood thoroughly before choosing your new home. And don’t forget to read the HOA agreement before signing off and agreeing to the terms. An HOA can really help you as a homeowner. Talk to your Realtor or mortgage professional today for more information on Homeowner Associations.