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With security a factor that is influencing home-buying decisions in South Africa, many are choosing to purchase homes within boomed-off areas or secure lifestyle estates, says Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa.
Unlike a body corporate, which manages a sectional title development, in a homeowners’ association, each member owns the house and the erf or plot on which the home is situated. Usually established by the residents within a community, an HOA is formed to ensure that the infrastructure of an area is maintained. Another major role of an HOA is ensuring the safety of those who live within the community.
“The rules and regulations laid out by an HOA can address numerous aspects such as the colour that a homeowner is allowed to paint their home or whether pets are allowed on the premises. The stipulations can be restrictive, which is why those who want to buy a home within a community that is governed by an HOA should ensure that the regulations don’t conflict with their lifestyle,” says Goslett.
Before purchasing such property, buyers need to do their research and delve into the details of the HOA regulations.
“Before purchasing any property, governed by an HOA or not, it is vital that buyers understand all aspects of the purchase and knows what they are getting themselves into. Having a clear idea of the regulations and rules an HOA has in place will provide some insight when choosing to buy a home to in a particular estate,” concludes Goslett.
Property Manager | Cape Town | Swindon Property | 16 Sep |
Pest Controller | Johannesburg | PrimecareFM | 3 Sep |
Property Manager | South Africa | Seamless | 4 Aug |
More jobs |