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With a home in America with a lot that is in a homeowners association, the owner cannot make most decisions without permission from the association, such as installing a fence, planting trees, etc. If any rules are violated, the homeowner faces a fine, and in the worst case, property seizure and court. I wonder what it’s like to own a home in America and how Americans really feel about these restrictions and rules?
Almost any average American, as in principle, and the average person would like to have their own house with a veranda and a beautiful lawn, where they can live a quiet measured life. But most Americans can afford it. It is no secret that America is on the list of the most favorable countries with favorable credit conditions. Americans love to buy and live on credit, and there’s nothing to learn from that. After all, interest rates on loans in the country are low enough, and the attitude to borrowers is quite loyal. Most Americans, if they do not have the savings to buy their own home, and most do, take it out on a mortgage for 20-30 years with the option of early repayment.
Homes in America are grouped into small “neighborhoods. Usually before buying a home many Americans have to choose between neighborhoods with or without a Homeowners’ Association (HOAs). In neighborhoods without a HOA the homeowner usually has more freedom regarding what his or her lawn, house, etc. should look like.
Many Americans, however, choose neighborhoods with an association, despite the extra cost and the list of rules and restrictions. Because Americans like the fact that HOAs keep their streets clean and their homes landscaped, as well as the condition of other facilities on the grounds, such as the community pool, tennis court, etc. But most importantly, when the association works effectively, the price of real estate in the area only goes up.
A homeowners association is a serious association with a set of rules that are legally enforceable. The rulebook is adopted by the board itself, which is made up of homeowners, so if someone doesn’t like a point, it can be brought to the community.
Typically, once a year, all members meet and discuss a phased plan for the year and approve the budget and expenditures by vote. They elect a chairman and other responsible persons. In 70% of cases, such associations are usually run by volunteers. In spite of all the positives of membership in such an association, homeowners have a list of rules and restrictions that they must follow.
