Who Should Inform Me About HOA Covenants and Fees for My New Home?
I'm not a HGTV viewer but when I read this quip in an article posted by Pat Starnes . . . a huge thanks is in order.
Thank you HGTV and Property Brothers for airing this segment that had a home buyer stick to their guns about making a decision NOT to buy into an HOA.
Unfortunately, there are a few in our local Portland Metro market that are run with Gestapo-like tactics and buyers are at risk of being targeted by the zealots after the close.
The tactics used by agressive HOA boards gets around -- word travels fast and an HOA which runs amok with senseless attacks can devalue the area more than a yard debris bin that wasn't put away fast enough.
Buyers be VERY AWARE of agressive and mean-spirited HOA's which are self-run/self-managed with long term bored members and lawyers that sue at the drop of the hat, using the court system as their own personal consiglere.
Want to know about an HOA . . . Ask the neighbors before you buy
They'll tell you and they won't mince words!
"HGTV's Property Brothers, the buyer refused to look at a home that was located within an HOA. He made several unflattering references to "nosy neighbors" and people 'telling him what he could and couldn't do with his property' ".
Who Should Inform Me About HOA Covenants and Fees for My New Home?
This is a question I hear regularly from homeowners. Actually, what I usually hear is "no-one told me about the covenants when I bought my house and how strict, (or lax, intrusive, or costly) they are".
While recently watching HGTV's Property Brothers, the buyer refused to look at a home that was located within an HOA. He made several unflattering references to "nosy neighbors" and people "telling him what he could and couldn't do with his property". The house met every criteria for his family, but he KNEW he would not be happy adhering to covenants attached to any Homeowners Association.
Good for him! He made an informed decision regarding his lifestyle choices. Many do not consider whether an HOA is a good fit for them prior to purchasing their dream home.
Owning a home that is part of a Homeowners Association isn't for everyone. You may be a non-conformist and abiding by a standard set of covenants may not be your thing. If that's the case, let your Realtor know upfront that you aren't interested in purchasing a home in a covenant neighborhood.
Back to the original question: who should inform you about HOA rules and fees? Ideally, you will be represented by a Realtor when purchasing your home, and she will tell you about the existence of the Homeowners Association as well as the fees, amenities, and the covenants. Even if you are purchasing a newly constructed home, hopefully your Realtor or the builder should provide information regarding the covenants, bylaws, and association fees.
Know the covenants before signing the offer to purchase! Don't wait until you're sitting at the closing table to ask about the covenants. By that time you are vested in your decision, the loan documents have been prepared, the moving van is loaded, and you may feel it's too late to back out if you disagree with the language or content of the rules.
Most HOAs have websites, but not all neighborhoods publish the CCRs (Covenants, Conditions, and Restrictions) online. The most important advice I can give is to do your due diligence. Ask questions early and often in the home buying process so you will be as happy with your home choice as you are with the neighborhood you decide to call HOME.
Image courtesy of jscreationzs at FreeDigitalPhotos.net
Written and Published by Pat Starnes REALTOR
Pat specializes in Residential and New Home Sales
Primary Service Area: Brandon, Pearl, Ridgeland, and the Ross Barnett Reservoir area
Pat Starnes, Broker
Pat Starnes Real Estate, 121 Formosa Drive, Brandon, MS 39047
601-278-4513 - Cell
Recent Blog Posts by Pat Starnes:
Rankin County Requires Utility Permit and Inspection When House Sells
What Does The ABR Designation Stand For?
We Want More, We Want More, Right?
Hot Temperatures and Hot Home Prices in Brandon MS 39047
Should You Consult a Realtor When Buying New Construction?
Homes for Sale in Scottish Hills ~ Brandon MS 39047
Homes for Sale in Hidden Hills Subdivision, Brandon, MS 39047
Homes for Sale in Castlewoods Subdivision, Brandon, MS 39047
Gardens of Manship Neighborhood Information - Brandon, MS 39047
Are you looking to buy or sell a home in the Brandon MS market? Call me!
Comments(6)