I see many Boise homes for sale in subdivisions with a HOA (Home Owner Association and CCRs (Conditions, Covenants, and Restrictions).
Fact it, nearly all of the newer subdivisions in the Boise real estate market have HOAs and CCRs.
Plainly stated, CCRs are “the rules” and they explain what is and isn’t allowed in a subdivision.
Amazing as it may seem, many buyers first learn about the CCRs for the home they’re buying when they get to the closing table.
My standard practice is to provide a copy of the CCRs to my buyers before they sign an offer to purchase.
And, I strongly urge my buyers to review and understand the CCRs as part of their home buying process.
Here are a few things to look for:
- HOA Dues
- How much are they now?
- How can they be increased?
- How much can they be increased?
- HOA Financial Condition
- Is the HOA financially healthy?
- Does the HOA have adequate financial reserves?
- Does the HOA have excess funds?
- Will the HOA need to assess members for an impending financial shortfall?
- Can you keep your RV on your lot?
- Does your RV have to shielded from street view?
- Does your RV have to be stored in its own garage?
- How long can someone live in a RV on your property?
- How long can you have your RV on your property? (before and after RV trips)
- How many pets can you have on your property?
- What kind of pets can you have on your property? (chickens have become an issue in some areas recently)
- Must you keep your pets on leash?
- Can you continue your backyard goat-breeding hobby? (trick question to see if you’re paying attention)
- Are fences allowed?
- Are fences required?
- Must you have a certain type of fencing?
- How tall can your fencing be?
- Must you stain your fencing a specific color?
- Can you have an outside antenna on your property?
- If so, how tall/what type must it be?
- Must it be pre-approved by the HOA before installation? (think ham radio antennae here)
- Is on-street parking allowed? (this can be a city ordinance)
- How many cars are allowed to be parked on your property?
- Must your cars be parked inside your garage?
- Are owners required to keep garage doors closed?
This is just a sampling of things to consider.
Make sure you do your ”homework” and understand the CCRs before you make that buying decision!