Paula Henry

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The HOA Will Have It’s Way!

August 26th, 2007 categories: Indianapolis Real Estate News, Indy Home Buyers, Indy Home Sellers

New HomeThere are many factors to consider when purchasing a home besides the size and location. When considering the purchase of a home which is governed by a Home Owners Association, you need to confirm the CC&R’s or Covenants, Conditions and Restrictions allow you the flexibility to live and enjoy the lifestyle you want. Every HOA has different guidelines and restrictions; some are much stricter than others.

While many enjoy the benefits a Home Owner Association provides in the development and continuity of the neighborhood, there are others who refuse to live in such a neighborhood. Some of the more common restrictions in Indianapolis which home buyers should be aware of are:

* Fences - Some neighborhoods do not allow fences at all, while most have definate guidelines in place for the style, heighth and placement of fences. Many Associations also do not allow the drainage area around the property line to be fenced. Confining limits of children and pets at home can be difficult without a fence.

* Parking - The ability to park large vehicles, boats and travel trailers is prohibited in many neighborhoods governed by an HOA. The cost of storage for these vehicles should be considered. There is generally no parking allowed on the street.

* Plants - Maintenance free communities are popular in Indianapolis. Since these communities take care of the lawn and trees, they have a limit to the amount of space and location of additional plants. If gardening is your hobby, make sure you have enough space to plant.

* Size - Custom Home communities have a minimum square foot requirement for homes. Make sure your building plans match the guidelines before purchasing your lot.

* Sheds and Pole Barns - Don’t settle for that two car garage thinking you can erect a utility shed or pole barn before you check out the CC&R’s. Many developments do not allow or severly restrict the guidelines for out buildings.

* Exterior Constrution and Color - Most custom home neighborhoods have guidelines for the use of brick on the exterior of the home, which can increase the cost of construction. Other neighborhoods limit the color of exterior paint.

Our Indiana real estate contract allows a review of the HOA documents within a determined time frame. It is important to review the documents thoroughly for guidelines which are important to you.

Once you sign, the HOA will have it’s way!

Here s what Realtors around the country have to say about HOA s:

  • Home Owner Association Rules that can come back to bite you by Joanne Hanson
  • Sunriver Rules and The Condo Rules - They May Make A Difference in Where You Buy! by Thesa Chambers
  • Home Owner Assocations are love hate relationships by Missy Caulk

  • Homeowner Associations in Camarillo, Are they for You? By Mana Tulberg
  • No Pay No Stay And Other HOA Rules In The Woodlands by Stephanie Edwards-Musa
  • CC&R s in Stanford, NC by Rita Taylor
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    This entry was posted on Sunday, August 26th, 2007 at 10:18 pm and is filed under Indianapolis Real Estate News, Indy Home Buyers, Indy Home Sellers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

    1. Missy Caulk said at August 27th, 2007 at 9:14 am

      Very timely information, Paula. It is so important that new buyers read the doc’s. I always have them have a attorney interprete if they don’t understand them or have questions.

    2. Paula Henry said at August 27th, 2007 at 9:54 pm

      Stephanie - Indeed! Once they sign, they have to comply to the rules and regulations in place.

    3. LAURIE MINDNICH said at August 28th, 2007 at 3:46 am

      Great advice and direction, Paula. Those “offering plan” books (often HUGE) need to be thoroughly read and understood- there’s so much info in them. While most is standard, the occasional oddity pops up.

    4. venturacountyrealestatetalk.com » Blog Archive » Homeowner Associatons In Camarillo, Are they for you? said at August 28th, 2007 at 11:59 am

      […] The HOA Will Have It’s Way By Paula Henry […]

    5. Mana Tulberg said at August 28th, 2007 at 6:26 pm

      Great points Paula. Many homebuyers tend to forget about the restrictions on adding a shed or a room to the house in a planned community.

    6. 6 Home Owner Association rules that can come back to bite you. | Summit County Colorado Real Estate - Breckenridge, Frisco, Copper Mountain Realtor - The Best of Mountain Living said at August 28th, 2007 at 6:32 pm

      […] The HOA will have it’s way by Paula Henry […]

    7. Rita Taylor said at August 28th, 2007 at 9:30 pm

      Paula,

      Great information on CC&Rs. Knowing the restrictions before you buy is VERY important. I am sure your buyers appreciate your knowledge of this important topic.

    8. Ashley Gephardt said at September 25th, 2007 at 1:58 am

      This is such an important consideration before buying. Make sure you understand the HOA. Some have very restrictive rules.

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