PUD’s, HOA’s, CCR’s can Mean No Boats, Trailers, RV’s. What are all these acronyms? How could these affect my home purchase?
PUD – Planed Unit Development. Not that we have many new ones here in the Barrington area, there are a few. There are also many existing PUD’s. In the old days houses were built on the lot and block method with roads in straight lines west to east and north to south. Along came the idea to add park areas and make better use of the available space for the enjoyment of residents. So you’ll see curved roads, landscaping, parks, differing lot sizes, ponds, lakes and more general green space. Many PUD’s also have Home Owners Associations.
HOA – Home Owners Associations. These were created to preserve the look and feel of a PUD by making sure residents did not ruin appearances among other things. They are also responsible for keeping the neighborhood presentable by taking care of those green spaces, entrances, lightintg and so on. Of course this takes money and most HOA’s of single family homes have an annual fee to pay for these services. The HOA is governed by the CCR’s.
CCR’s – Covenants, Conditions, Restrictions. In addition to who looks after these and as needed enforces them, there are usually a list of things you cannot do as a home owner. Parking a boat outside a home may be one of those rules. Or perhaps for waterfront properties restriction will exist about use of the water. This may be very important to you if you own a boat, RV, trailer. So how do you find out?
So Can I Park My Boat Outside My New Home?
Should you decide to buy a single family home with an HOA and CCR’s, you have time after contract agreement to read through the entire document and if you have to you can withdraw. We can also ask the agent who has listed the house if they know or can find any restrictions that would affect you. For example a recent sale I had in South Barrington was a PUD with an HOA and CCR’s and was a waterfront property. Outdoor swimming pools were not allowed. So I published this in the agent part of the MLS data so buyers agents would know not to show, if their clients wanted an in-ground pool.
Older neighborhoods may not have any CCR’s and unincorporated areas rarely have as many restrictions. These rules usually relate to the outside areas of your property and are there to keep the neighborhoods neat and tidy.
Before you buy a new home thinking you can park your boat outside, your RV in your back yard or your business trailer on the drive, be sure you investigate any CCR’s and if necessary ask your attorney to cancel the contract if you find out you cannot do what you want to.
or give us a call today at 1-847-363-3686 for buying or selling a home in Barrington or the surrounding communities!