Depending on where you are looking for a new home, it is possible that you will find a neighborhood where there is an HOA (Homeowners Association). While some might not think too much about this before they go to purchase a home, many HOA’s have a lot of power over many aspects of your home. You should always take a look at the bylaws of your HOA before you decide whether or not you can live up to them. While HOA bylaws for the most part are meant to keep a neighborhood looking nice and to be safe, there are rules that will limit what you can do with your own home and yard. In some states, HOA’s also have the power to do “non-judicial foreclosures” if a member isn’t paying their fees. If you find that a neighborhood has had a lot of foreclosures, you might want to look into how the HOA wields its power.

error: Content is protected !!