If you decide to buy real estate in a townhouse, condo, or subdivision development, you’ll be subjected to strict homeowner association rules and regulations; fines for violations of these rules; a lien if you fail to come up with money for your fines; association fees; or assessment fees; and many other possible fees if you don’t follow the guidelines.
If you’re considering purchasing real estate subject to a homeowner’s association, you may be surprised at how detailed the regulations can be. Let’s go over some typical stringent rules found in some association regulations:
-You can’t begin any exterior remodeling or painting project without the approval of the homeowner association.
-You aren’t allowed to park your car in the drive way to fix it.
-Backyard storage sheds aren’t allowed on your property.
-Outdoor clotheslines, television antennas, basket ball hoops, and satellite dishes are prohibited.
Homeowner association guidelines were designed to foster a welcoming atmosphere for all members. But the reality is some residents only tolerate the rules, but inwardly oppose them. For instance, an association cannot discriminate against a new home owner just because you have children. While this may be ideal, you’ll find there are some residents who won’t receive children as warmly. In order to foster a more child family atmosphere, you may have to become actively involved in the association.
Here are some additional association guidelines you may be forced to follow:
-The association limits only one pet per unit. The pets weight can’t go over 15 pounds.
-Pets that are overly loud or aggressive must be permanently removed from the premises within three days notice by the board.
-Bicycles are only permitted in marked areas. They can’t be left on common grounds, in hallways, or stored on the outside patio or balconies.
-Personal demeanor and dress code must follow association requirements.
-Signs will not be displayed anywhere on the property.
-Placement of drapes or curtains in a unit without a white liner is prohibited on association grounds. You must be able to see the liner from outside the unit.
-Home owners aren’t allowed to invite more than 10 friends or family members over for a gathering in a unit.
-A property owner desiring to rent their unit out must obtain approval from the board prior to doing so.
-If finances are tight and you want to sell your unit, you can’t do so without the approval of the board. If the board has any awful reason to reject your buyer, you won’t be able to sell the property.
Living under the watchful eye of an oppressive association can make your life stressful. Check all association rules in advance before you make your final decision to buy into a particular development.
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