Buying A Home – Are You Making A Mistake By Buying A Condo?

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.

Many homebuyers who purchased property with a homeowner’s association were shocked to discover how strict the rules were. Here are some of the rules you could be subjected to:

-You can’t begin any exterior remodeling or painting project without the approval of the homeowner association.

-Repairing your vehicle in the driveway is prohibited by the association.

-Installation of a utility shed in your backyard isn’t allowed.

-Outdoor clotheslines, television antennas, basket ball hoops, and satellite dishes are prohibited.

While civil rights laws influence the drafting of homeowner association rules, some residents won’t be thrilled with some of the regulations. For example, just because a homeowner association regulation permits a property owner to have children living in the community doesn’t mean all residents will be overjoyed with the presence of kids. Only a senior community can exclude children from living in its association. You may need to be proactive in your association to help reform a better environment for your children.

Let’s go over some additional regulations you may need to abide by:

-Pets are restricted to one per unit. The homeowner can’t own a pet weighing 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 conduct and clothing in the common grounds must meet association guidelines.

-Placement of signs aren’t permitted on community grounds.

-Owners aren’t permitted to install drapes or curtains in any unit without a white liner visible from the exterior.

-Social gatherings in a unit are restricted to a maximum of 10 guests at any single event.

-If a property owner has plans to rent out their unit, a pre-approval must be obtained by the board before embarking on such an endeavor.

-You can’t sell your property without the board approving of the new homebuyer. The board can also use any lawful reason to reject a potential buyer.

Homeowner association restrictions can cramp your lifestyle if you’re not careful. Make sure you research an association’s rules before you purchase property in it.

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