How do you feel about deed restricted communities with homeowner associations?
I recently noticed that the Lake Asbury Plan proposes, if I understood it, that every community will have a homeowner’s association and will care for their own roads, drainage system and the like. I happen to drive into a community and liked the way it looked and inquired about an available home. This was my first experience with a deed restricted community. While others may dislike the “rules”, I appreciate that this is what it takes to make a neighborhood look desirable for years to come.
Difficulties arise when new homeowners or renters move in and resume their normal and accustomed activities only to receive a letter of violation from the property manager. This may be a poor welcome in the short run, but when you buy property in a deed restricted community, did you know that you initial a document within your mortgage papers that tells you that there are restrictions that apply to the lot you are buying?
Interesting isn’t it what we sign without reading?