Many communities have associations for homeowners, property owners, condo owners, or similar associations. The presence of a homeowners association, also known as HOA, introduces another layer of rules and regulations to consider when buying a home. Some people love these associations and some hate them.
Homeowners Associations
Some associations have very simple rules such as no abandoned, non-working motor vehicles and no grass above ten inches tall are allowed. Others have architectural review boards that must approve your paint scheme before you can repaint your house. Im serious.
I was once looking at a townhouse with a potential buyer, and a neighbor knocked on the door to hand deliver a notice that the door had been painted without permission (it was a deep, wine red). The notice went on to state that the door would have to be returned to its original dark green color or an exception applied for within ten days. Although she liked the townhouse, the potential buyer decided she did not want to live with this sort of micromanagement.
Some associations add a significant amount of cost to the home purchase via high monthly, quarterly or annual dues...
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