HOA rules — help or hindrance?

Homebuyers: What’s your ideal neighborhood like?

Filled with attractive, well-maintained homes? No RVS or boats in driveways? Quiet, especially before 8 a.m.?

Well, lots of other people want those features, which is why 24 percent of total U.S. housing — single-family homes, condos and other multiple-unit dwellings — is under homeowner association rule, explains Dawn Bauman of the Community Associations Institute (CAI).

But “associations are always viewed as both a blessing and a curse with residents and buyers,” says Cara Ameer of Coldwell Banker Vanguard Realty in Ponte Vedra Beach, Fla.

That duality is reflected in a recent CAI survey of 1,000 association residents, where some of their chief gripes, such as restrictions on parking, were also a contributing factor to positive aspects, like the attractiveness of the neighborhood.

Basically, if a rule crimps you, it’s a negative, notes Ameer, who shares that she was frustrated by her own association’s lengthy home-improvement review process.

Unlike a condominium purchase, single-family buyers typically aren’t required to receive association rules when making an offer, says Ameer, who notes purchase contracts can be made contingent on a rule review.

Sharing many common elements, condominium associations by necessity have more and more stringent laws, like a one-dog limit or no holiday lights on balconies.

Many condo buyers are hyper-aware of association rules and “ask about them right away,” says Mike Mcelroy of Center Coast Realty in Chicago.

Moreover, lenders are also going to examine an association before approving a mortgage on a condo, particularly analyzing its financial health, and if any costly repairs are looming. For single-family buyers, lenders consider the association assessment in calculating mortgage affordability.

Ironically, one of the positives found in the CAI survey involved rules themselves, with “everyone know the rules” ranking high.

Indeed, says Mcelroy, “It’s nice to call the management company and say someone is making too much noise, without having to confront them yourself.”