When you are considering the purchase of Hilton Head Island real estate, you will logically first want to decide whether to purchase a condominium or townhouse or a single family home. In some markets, condos appreciate more than houses, but all markets are different, and constantly changing, so the first thing to do when making this decision is to check the market demographics.
Condo and townhouse communities have worked over the past few years to overcome the negative image that many people have of home owners associations and developer disputes, and although condos and townhouse communities typically do have an HOA, and fees are required, these organizations are usually willing to be flexible with their rules and bylaws and often invite all residents to participate in meetings.
Homeowners associations can still impose restrictions on residents however, and ban things like smoking in indoor common spaces, as well as enforce decorating uniformity on the outside of the building, particularly on balconies, which are considered public, not private properties, in most developments. Information on individual association laws can be obtained via the association itself, both online and in person, in most cases.
Learn everything about the home owners association before you buy into a development, since again, associations that are poorly managed can make living in a development difficult and can decrease property values as well. Study the covenants, codes, and restrictions, and decide whether or not you can live with them. You should also speak with residents, and meet with the association president to find out if dues are expected to increase and if any recent problems have been revealed, such as problems with plumbing or with roofs that may result in a dues increase in the near future.
Condos and townhouses can be wise investments, but it is important to research them thoroughly before you buy into them. Single family homes do offer more privacy, no HOA meetings to attend or dues to pay, and the freedom to landscape or not any way that you please. Single family homes do not come with the added bonus of having a plumber, maintenance person, or built in amenities such as pools and tennis courts either, however, so the choice really depends on your personal preferences. Again, make sure to find out everything about the HOA before you buy in, and in the case of single family homes, make sure that you have a home inspection done before you take possession, or you may end up having to pay for repairs that far outweigh the cost of HOA fees.
The author regularly vacations in Hilton Head Island, if you’d like more information about local attractions and activities, visit http://www.hiltonhead.tv
Possibly Related Posts:
- Moving to New Zealand?
- Meet Colombia’s Capital City
- Cartagena De Indias The Perfect Holiday Destination
- Las Vegas Rental Car - The Best Way To See Vegas
- Your Cultural Cravings in Phuket
Leave a Reply