LIME REALTY GROUP is back with another tip for people shopping for a new home! Today we’ve got a great one! So buckle up and check out our awesome suggestions!
Tip number 4 is ASK FOR AND REVIEW THE HOA CONTRACT BEFORE YOU MAKE A DECISION! There are lots of little hidden items in HOA contracts that can make or break a decision to buy a property. Here’s just a few of the ones we’ve come across while helping clients shop for a property.
One of our clients was looking for a home they could eventually rent out when they upgraded to a bigger property. And they found a unit in a townhome community they were absolutely in love with. They were ready to put in an offer but we read the HOA contract and had to break the bad news that the community didn’t allow the units to be rented out. Sadly, our buyers couldn’t purchase the unit they wanted.
Another HOA we encountered didn’t allow home owners to have large breed dogs. That shot down another buyer from making a purchase. There are HOAs that are extremely militant about leaving your trash receptacles out overnight or how long your Christmas lights can be up after the holidays and some buyers balk at that level of strict community control.
If the unit you’re looking at is part of an HOA it’s vital to know what values they have and determine if you can live in that community. Keep in mind, you’re subjecting yourself to their rules and they can take action if you break them. If you don’t think you can handle the environment of a particular HOA, you shouldn’t move there. You’ll only be making your life miserable.
And that alone is reason enough to read through the HOA contract before you buy.
Make sure you go with an agent who looks out for their clients! Lime is the clear choice for real estate in Southern Utah!