Sherry's Austin TX Real Estate Blog

Are You A Good HOA? Or Are You A Bad HOA?

toilet gardenAre you a good HOA? Or are you a bad HOA? They are not all created equal. Generally when we sell a home in a subdivision that has an HOA, the buyers don’t get all the HOA rules and regulation until after the closing. Well, they need to see them first. You need to know what you are getting into!

A couple years ago I sold a home to a first time home buyer. He worked for a heating and air conditioning company, and drove a company truck. Well in this particular subdivision, you cannot park a vehicle with advertising on it in your drive way. Well, the truck was about 10 inches too tall to get into the garage with the ladders and etc. on it. We drove around the neighborhood, and seen at least 15 vehicles sitting in driveways. Cable companies, etc. A very clean and nice looking sub-division. They knew going in what the rules were, and they wanted to buy anyway. First week after they moved in, they got the letter! They are still there, so guess they worked it out…but had me thinking.

I totally understand the reasoning behind a HOA. It is to keep the neighborhood clean and appealing to keep the home values up, and some offer amenities that the average home owner cannot afford, such as a swimming pool or tennis court, and keep the common areas looking nice. It keeps your neighbors from having the sofa on the front porch, and the toilet planter at the street, and grass a foot tall. in truck pool

But saying you can’t work for a company, and drive a company car, that won’t fit into your garage? Remember, we are talking Austin and the surrounding area…Builders don’t build garages large enough for anything except small cars or small trucks generally. I can understand if you drive a semi truck, you can’t get that in a drive way, and I imagine it would block driveways parked in the street… But, I wouldn‘t mind knowing that my neighbor works for the local cable company, or is a plumber…or they know that I am a REALTOR®.

I have a client that lives in a gated community, and they are not allowed to have wreaths on their doors. Now that is brutal! No holiday wreaths!

When builders build a subdivision, generally a HOA group is assigned, and after the subdivision is built out, they will elect officers. This is the time to remember to that this is your subdivision. Rules can be added or taken away if it is put before the board and voted on at a meeting. Get involved in your community! You don’t have to be an officer if you don’t want to be, but the officers always need help, and would welcome your involvement.

Let’s start your home search today. www.Luxury-Homes-in-Austin.com

 

4 commentsSherry Scales, ABR,GRI,REALTOR • October 18 2009 11:19PM

Home Owners Insurance-(What You Don’t Know).

GeckoHome Owners Insurance-What you don’t know. Did you know there are different kinds of Home Owners Insurance? Most agents don’t tell you that however. When you call and say you are buying a home and need to get insurance…they give you the basic Home Owners Policy. You are covered for most things you can think of, but they neglect to tell you that they depreciate items over time.

Example: You bought a home, and a hail storm comes through and you need new shingles. You think, I have a $500 deductible and insurance will pay the rest. Think again! You have 20 year shingles in the home, and they are really only good for about 15 years…the singles are 10 years old, so they are only going to pay one third the cost of the roof. So if it is $6000 to install new shingles, you have to pay $4500. HOWEVER! If you had purchased Replacement Value insurance, you would pay your $500 deductible only.

The things we learn in life lessons. My home had been broke into about 15 years ago. They stole jewelry, TV’s, etc. I had receipts, photos and those things that most folks probably don’t have. Well by the time they depreciated out the TV’s and VCR’s, etc. I didn’t get squat! Unless you have a jewelry rider on your policy, there is a small limit of usually $1000 for jewelry and computers and such. I had about $38,000 in property stolen that I had receipts and photos for, and I received a check for $1050.00 from the insurance company.

So I always let my home buyers know to ask about Replacement Value Insurance. It isn’t that much more a year, and believe me it will more than pay for itself if you only ever need it even once.

You still need Jewelry or Computer riders if you have more than the company’s allotted amount.

Also…did you know when you buy a car, and get the life insurance to pay if off if something happens to you…that the insurance company can cancel it within the first two years. So, if something were to happen to you or a spouse, all they have to do is refund the monies you paid to date and they are off the hook. It is true! It’s in the small print! (Another life experience)

Start your search for a home at www.Luxury-Homes-in-Austin.com .

12 commentsSherry Scales, ABR,GRI,REALTOR • October 18 2009 12:06AM