Condominium owners are likely quite familiar with HOA, or Homeowner Association, rules. A community's uniformity and the ability to run properly are central to these types of rules, which are set forth in a manner that is hoped to be an unambiguous as possible. Did you also know this concept exists in American sub-divisions, known more often as the neighborhood covenant?
You might also know that the rules set forth in a neighborhood covenant are often created by the sub-division's developer. Protection of the developer's land and property investments, as well as assurance that certain desirable characteristics remain a part of the neighborhood are both reasons why neighborhood covenants exist.
The benefits of neighborhood covenants are many. First, they help ensure your neighborhood retains the look and feel you liked so much when you originally bought your home. It will prevent a new, eccentric neighbor from painting his or her house neon green, for example. This, in turn, will help ensure that the value of your home remains strong. At the very least, your home will not decrease in value as a result of odd decorating choices by neighbors nearby.
A neighborhood covenant for your sub-division can also lead to downsides, however. By definition, there are limitations to your freedom as a homeowner to make changes to your home inscribed in neighborhood covenants. You might be prevented from making a change for the reasons already listed if you, for example, happen to love the color neon green and think it would make a daring addition to your outside dcor. Other things you put on the exterior of your home could be complained about by neighbors. For example, that 30 foot wire you've always wanted to add to your deck to ensure the best signal might now be impossible to install without prior permission from your neighborhood association, if you're an avid ham radio operator.
The existence of a neighborhood covenant in your area consequently brings with it both good and bad things. Doing your research before buying in a sub-division that has one of these neighborhood covenants is the best way to determine whether you can actually handle living with one. To make sure whatever is in the covenant will not affect your own prerogatives for your exterior home design plans, you'll need to read the text of the covenant. After you've made your purchase, this will ensure less home-related heartbreak in the future.
You might also know that the rules set forth in a neighborhood covenant are often created by the sub-division's developer. Protection of the developer's land and property investments, as well as assurance that certain desirable characteristics remain a part of the neighborhood are both reasons why neighborhood covenants exist.
The benefits of neighborhood covenants are many. First, they help ensure your neighborhood retains the look and feel you liked so much when you originally bought your home. It will prevent a new, eccentric neighbor from painting his or her house neon green, for example. This, in turn, will help ensure that the value of your home remains strong. At the very least, your home will not decrease in value as a result of odd decorating choices by neighbors nearby.
A neighborhood covenant for your sub-division can also lead to downsides, however. By definition, there are limitations to your freedom as a homeowner to make changes to your home inscribed in neighborhood covenants. You might be prevented from making a change for the reasons already listed if you, for example, happen to love the color neon green and think it would make a daring addition to your outside dcor. Other things you put on the exterior of your home could be complained about by neighbors. For example, that 30 foot wire you've always wanted to add to your deck to ensure the best signal might now be impossible to install without prior permission from your neighborhood association, if you're an avid ham radio operator.
The existence of a neighborhood covenant in your area consequently brings with it both good and bad things. Doing your research before buying in a sub-division that has one of these neighborhood covenants is the best way to determine whether you can actually handle living with one. To make sure whatever is in the covenant will not affect your own prerogatives for your exterior home design plans, you'll need to read the text of the covenant. After you've made your purchase, this will ensure less home-related heartbreak in the future.
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