| |
| |
|
|
Real Estate |
|
Home Owner Association Restrictions - Read Before Buying
Many communities have associations for homeowners, property owners, condo owners, or similar associations. The presence of a homeowners association, also known as "HOA", introduces another layer of rules and regulations to consider when buying a home. Some people love these associations and some hate them. Homeowners' Associations Some associations have very simple rules such as no abandoned, non-working motor vehicles and no grass above ten inches tall are allowed. Others have architectural review boards that must approve your paint scheme before you can repaint your house. I'm serious. I was once looking at a townhouse with a potential buyer, and a neighbor knocked on the door to hand deliver a notice that the door had been painted without permission (it was a deep, wine red). The notice went on to state that the door would have to be returned to its original dark green color or an exception applied for within ten days. Although she liked the townhouse, the potential buyer decided she did not want to live with this sort of micromanagement. Some associations add a significant amount of cost to the home purchase via high monthly, quarterly or annual dues payments. An aggressive association may also attempt to issue levies on homeowners for improvement projects. My husband and I once looked at a penthouse condo on the outer banks of North Carolina. I was reviewing the annual budget for the condo association, and noticed a twelve thousand dollar per unit levy made during the prior year. I asked about it and was told that it "depends upon the 'beach push' situation." Further questioning elicited the information that when hurricanes or severe storms eroded the beach, fresh sand had to be brought in. Not only did it have to be brought in, it had to be pushed up into dunes and the dunes planted with sea oats and grasses! I am all for preserving the environment, but the twelve thousand dollar levy certainly made me nervous. If you are considering a property controlled by an association, watch out for the following: 1. Sometimes associations limit what pets owners may have 2. If the association allows pets, it may limit the hours they can be outside. 3. Parking places may be assigned coupled with an aggressive towing policy. Some associations maintain pools, tennis courts, elevators, trash collection, snow removal, grounds maintenance, provide bus or limo service, concierge service, and in general make life pleasant and trouble free. While these are nice benefits, make sure you are comfortable with the costs associated with them. Look Before You Leap So, as you can see, whether your concern is protecting the value of your investment (no junk cars), maintaining your freedom to choose (you want an eggplant door, a place to park the company truck, and/or to build an addition with a family room and a new kitchen), it's very wise to check out those things which can limit your control and increase the cost of home ownership before you buy. Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.
MORE RESOURCES:
Real-Estate - Google News |
|
|
|
RELATED ARTICLES
Home Owners: Disclose the Facts! One of the most common causes for disputes occurring after the sale of a home arise from the buyer finding defects in the property, defects which were not disclosed to him by the owner before the sale of the property. If you are the owner of a home that you are looking to sell, please be aware that you may be held liable for not disclosing any known defects in your home. Spanish Estate Agents and Inspection Visits The only way to buy a home in Spain is during an inspection visit. If you are serious about buying a property, and are in a position to purchase, this is the most effective way to ensure your find the ideal home, in the ideal area at the right price for you. Mortgage Broker Training: How to Secure Loyalty From Realtors So you've just returned to your office after delivering an Oscar worthy presentation to a real estate agent. They're impressed and ready to do business with you. I Already Have an MLS Listing, Why Do I Need an Internet Ad? In today's real estate market, astute buyers are also looking to realize savings by dealing directly with the seller. They use internet search engines and keyword sets (Atlanta real estate advertising, Atlanta for sale by owner, Atlanta FSBO) to locate for sale by owner (FSBO) properties on the web. How To Spot A Good Buy Beauty is in the eye of the beholder, particularly when it comes to buying a home. Features that attract one home-buyer may repel another. Vegas: The New Frontier Unless you have been living in Siberia, you know that Real Estate is on fire in many places around the country. In fact, you would be hard pressed to find a city where this was not the case. Dealing With Dual Real Estate Agents Historically, real estate agents have represented the seller of a property. The seller, after all, is usually the one who pays their commission, and agents therefore have a fiduciary relationship with the seller. The Secret Jewel in the Mediterranean Crown Since the Northern Cypriots famously voted 'yes' to the UN backed Annan plan for the peaceful reunification of Cyprus in 2004 the world has awoken to the secret and hidden beauty of this untouched jewel in the Mediterranean crown. Those open-minded and individual thinkers seeking elegant living, unrivalled Mediterranean-region investment property opportunities or their own hideaway are today embracing Northern Cyprus. FSBO Novel Preface PrefaceWe are For Sale By Owners, "FSBOs." We spend our time trying to sell ourselves and others on what we are doing or what we want to believe. Making Money In Real Estate - 10 Ways Making money in real estate is an endless topic that includes all the various types of real estate investments. There is land, apartment buildings, homes, commercial buildings and more. A Real Estate Primer There are a great many books and web sites devoted to real estate investing out there, but most of them concentrate on one specific area of investing. It's often hard to find a general description of real estate investing, one that lists the various real estate investing strategies and how to get started. Ten Steps for Becoming a Successful Real Estate Investor The secret to success in real estate investment is finding bargain properties that you can "flip" quickly for a profit. Here are a few ideas for becoming a successful investor:1) Obtain sound advice from investors who are already successful. Home Loans - Identity Theft Protection Could Hurt Home Sales Identity theft has been a hot topic in the news during the last few years. Just a month or so ago, forty million credit card numbers were compromised due to a computer attack on a credit card processor. How To Get The Best Rental Accommodation In The Area By Using Your Capital My report is for you to use your power to negotiate, not only a reduced weekly cost of accommodation, but also to get the best accommodation available in the area in which you wish to live.Hello Colm Dillon here . You Have 15 Seconds to Sell Your Home! 11 Steps You Can Take to Sell Your Home for Top Dollar Selling your home? Here are some suggestions to help you sell yours for more than your next door neighbor's, and faster! Most buyers will know within 15 SECONDS after crossing the threshold if they want your home. But first, you need to attract them inside!11 steps to take to sell your home for top dollar1. Should You Sell Your Home Yourself? Are you thinking about selling your home? Would you like to sell it by yourself instead of hiring a real estate agent? If so it would be beneficial to review the pros and cons of selling your home by yourself before hanging out the sign.PROSSelling your home without an agent means More Money. How to Become a Successful Real Estate Investor Many folks dream of becoming real estate investors, but not everyone has what it takes. If you're dreaming of becoming an investor, here are several important questions to consider, long before you buy your first investment property:1) Why would a homeowner sell a house at a bargain price?Many things happen in people's lives that make their home suddenly become a burden. Follow-Up - The Key To Successful Closings If everyone always did everything they said they'd do, we'd all be a lot richer. Unfortunately, tasks are overlooked, and the ball is often dropped. Where is Florida Investment Property Florida Investment Property - Why Investing is a Wise Decision There are many reasons to purchase investment property in Florida, the foremost being value appreciation. Property values generally rise while debt decreases; making real estate purchases a good investment. Home Inspections or Home Warranty? Homebuyers are a curious lot. They routinely ask thought-provoking questions.
|
|||||||||||||||
