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Are Home Owner Associations Good or Bad?

By
Real Estate Agent with Bucci Realty, Inc. BK3064647

Deed Restrictions, Homeowner Associations and the like... Help or Obstacle?

 

 

In the Viera and Suntree areas of Brevard County, Florida, you can not avoid them.  Both of these planned unit developnmets have master assocaitions as well as individual associations within each subdivision.  

In Viera and Suntree, as wella s many of the newer developemnts in Brevard County, there is no excaping the assocation.

 

  • Some buyers want rules to make sure things stay pretty much the way the neighborhood looks today.
  • Some want the freedom to do as they please.  

There is no shortage of rules in these developemnts like rules regarding types of vehicles allowed, rules governing the changing paint colors, having a fence (or not), whether a boat may be kept onsite and others.

The rules exist to promote uniformity and consistency in the homes. I can understand the rules. Likewise I can understand when buyers do not want the rules!

When you begin your search for a home in Breverd County, Florida decide early on if an association is a consideration.  Soem folks just want their freedom and it is best that they not even go near a dvelopmnet with restrictions!

If you decide to purchase in an area with an association one of the documents you must be provided in Florida and given an opportunity to review is the HOA disclosures.

Read the disclosure.  Know what you are getting into before proceeding.

Your Florida real estate agent should ensure you receive the documents but it is up to you to read them - thoroughly!  And do not accept the seller or your real estaet agent's interpreation of what the documents mean.  Consult the appropriate professional (attorney).

These documents are written by lawyers so it likely takes one to interpret them!

So are associations good or bad?  Only you, the buyer, know the answer.


Posted by

Gary L. Waters, is a Florida licensed real estate broker associate with Bucci Realty, Inc. in Melbourne, Florida.  

 Call or text me directly at 321-693-3850.

 

 

 

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Comments(4)

Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Gary - Great advice for buyers looking for a home in the Viera Rockledge, Florida area.  Decide upfront if you're an HOA type of person and save yourself a lot of time as you look for homes.  Excellent buyer tip!

Jun 05, 2012 04:32 AM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Gary, spot on. Associations are good for some people and bad for others. It totally depends on your lifestyle. This is an excellent discussion of the pros and cons of Associations and the responsibility of Buyers to study and seek expert advice on the contents of the HOA Documents.

Sharon

Jun 10, 2012 12:34 PM
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Gary, great topic for buyers on Homeowner Asociations. Beside the HOA documents to read and understand, buyer must find out how much reserves and unpaid dues, the association has stated in their financial statement.

Jul 10, 2012 11:22 PM
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

Gary, I think that Associations can be great, when run by the right people.  They can be instrumental in keeping the homes properly maintained and they can help keep the property values up in a neighborhood. 

However, going in a buyer must now that they can live under the guidelines of the association. And, today it's so important to check on the financial stability of the association. 

Condo association documents should really be reviewed with a fine tooth comb.  As so many lenders today are not lending money on units in certain condo complexes.

Jul 20, 2012 10:13 PM