Advantages and Disadvantages of a Homeowners Association

By
Real Estate Agent with Buyers Brokers Only LLC - www.BuyersBrokersOnly.com MA Broker Lic 148149
http://actvra.in/4wJ

Around Canton MA, we do not see Homeowners Associations (HOA) as often as some other parts of the country.  Many of our neighborhoods and homes are pretty old, with some dating back to the 1800s and before.  However, we do see them sometimes in newer developments and neighborhoods. 

Some buyers consider them to be a "deal-breaker".  There are some pros and cons to having an HOA.

Pros:Houses

  • Vehicle for overseeing maintenance of common areas.
  • Maintaining uniformity among houses in the development.
  • Restricting the storing or parking of less desirable items (trailers, unused vehicles, etc.).
  • Setting rules and regulations as to noise and other possible nuisance issues.
  • Maintaining value in the neighborhood.

Cons:

  • Additional monthly or annual fee.
  • Restrictions on what modifications owners can make to their property
  • Having to conform to the rules of the HOA.
  • Restrictions on outside structures (sheds, antennas, etc.)
  • Possible difficulty with re-sale.

Of course, not all HOAs are created equal.  Some are more restrictive than others. The important step for buyers to take is to make sure they have the restrictions reviewed in advance so they can determine whether or not it is something that they are willing to accept.  Buyers need to do their homework to make sure they can live with the rules and restrictions of the HOA.  Having a good buyer agent and attorney at your side will help.

 

Posted by
 
Christine Smith - Buyers Brokers Only LLC
100% Loyal to Buyers 100% of the Time
781-799-8313

 

 

 Google Plus   Facebook    Twitter     LinkedIn         house

 

buyers brokers only on angle's list

 

 Read Our Reviews on Angie's List                           Read Our Reviews On Yelp

 

 

 business cardNAEBAmassachusetts association of buyer agents

 

 

 

 

 

 

 

 

 

 

The content provided on this blog is presented or compiled for your convenience and is provided for informational purposes only. The information provided on this website should not be construed as offering legal, financial or other advice to be relied on by the reader to make or refrain from making any decision or to take any action. 

 

Christine Smith is an Attorney and Exclusive Buyer Agent with over 20 years of experience in real estate. 

 

 

(c) Copyright 2010-2014 Christine M. Smith, Attorney and Buyer Agent. All rights reserved.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Groups:
1st Time Buyers
Active Rain Newbies
Buyer Information - What Buyers Need to Know in Today's Market
Tags:
hoa
buyers
buyer agent
attorney

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the key to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
575,035
Valerie Zinger
House Proud Ottawa-Ontario-Canada - Ottawa, ON
Home Organizer

Christine:  Some buyers balk at the condo boards and all of the rules.  In a community, it might be just as difficult if there are picky rules that start restricting normal homeowner freedoms.  While I don't like a primary coloured garage door, who is it hurting?  There a re HOAs that would not allow certain colours in the neighbourhood.  We had one that would not allow clothes lines.  Interesting.

January 23, 2011 07:38 AM #1
Rainmaker
502,491
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

Some people like the idea that they won't have neighbors doing things like that while others don't want to be restricted.  I had a client just the other day just about ready to buy a property but the HOA completely killed the deal.

January 23, 2011 02:48 PM #2
Show All Comments
Rainmaker
502,491

Christine Smith

Exclusive Buyer Agent & Attorney, Canton, MA
Are you ready to be my next satisfied client?
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the umbrella to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information