Someone told me long ago that homeowner associations exist to enforce conformity - appearance, landscape, if you can rent, facilities use, vehicles allowed, pets allowed, etc.
The purpose of this post is not to debate the merits of associations but rather to serve as a reminder to home buyers to take the existence of an association serious while performing your due diligence before your closing.
- Read the association documents.
- Review the financial statements.
- Discuss issues and concerns with board members and future neighbors.
- Review meeting minutes, if possible.
- Read the articles of incorporation and by laws, etc.
- Pay particular attention to any restrictions on the use of your home.
- Know the cost as in current monthly fees and what is included.
- Find out about any pending special assessments.
Know the rules before buying in a deed restricted community. As a homeowner, on the day of closing, it is your association.