homeowners association

Speak With Your Homeowners Association Before Beginning Any Remodeling

Many homeowners mistakenly believe that they have the freedom to remodel their property as they see fit. Unfortunately, you don’t have as much flexibility as you may think. Most homeowners are under the jurisdiction of a homeowners association, which means that they will need to check their bylaws and are usually required to receive permission before doing any remodeling.

The Importance of Consulting Your Homeowners Association Before Remodeling

Homeowners associationshomeowners-association typically require members to receive prior approval before beginning any remodeling or new construction. They may be forced to pay a fee if the policies are violated.

Homeowners associations are often very strict about enforcing their policies. In 2009, a homeowner tried to have a lot of electrical, plumbing and cabinetry work done without seeking approval from the homeowners association. According to statements from the Ohio 8th District Court of Appeals, the homeowner didn’t try to receive the necessary permits before starting any work.

The association made repeated efforts to contact him and resolve the issue, but the homeowner wasn’t compliant. They were eventually left with no alterative except to take the member to court. The homeowner was forced to pay over $18,000 to cover the legal fees of the homeowners association after the judge ruled in their favor.

Always Check With Your Homeowners Association Before Remodeling

Policies can vary among homeowners associations, so you will need to read the policies before applying for a permit. Some homeowners associations work directly with their members, while others use a third party company to oversee their policies. You will need to speak with someone for further details if you have any questions.

What should you expect when applying for a construction permit from your homeowners association? It will depend on the management, because some organizations are more flexible than others. However, here are some of the things that you may need to be prepared for:

  • Many homeowners associations have material and color requirements that property owners must abide by.
  • You don’t typically need to outline your plans in as much detail for smaller remodeling projects that don’t require any major construction or electrical work. However, other projects will usually require architectural plans and contractor agreements before work can begin.
  • You will be required to adhere to a number of rules to ensure the contractors don’t create any inconvenience or safety concerns for other residents.

Some homeowners associations can be annoying to deal with, while others are much more tolerant. However, it will always be much easier to made accommodations ahead of time rather than risk the consequences of working without approval.

 

commons office art0 gefo4f8o 1250 high jpg

How Columbus Apartment Boom Will Impact Homeowner Renovations

The Columbus housing market has changed remarkably over the past year. One of the most recent trends affecting the property market is the sudden surge in apartment rentals. According to WBNS-10TV, the apartment boom could impact homeowners in different ways, which may also affect the market for housing renovations.

History of the Columbus Apartment Boom

Columbus faced a serious shortage of apartment rentals during the recession. Developers only created 5,000 housing units in Central Ohio between 2006 and 2012, despite the fact that the population grew by 100,000. The market corrected shortly after the recession ended.

In 2014, the supply of apartment rentals increased slightly more than the number of single family houses for the first time since the 1980s. Rob Vogt, a partner in Vogt Santer Insights told the Columbus Dispatch that the market proved far more resilient than experts initially predicted.

What Does the Apartment Book Mean for Housing 250 HighRenovations?

Columbus real estate experts are trying to make sense of the precarious, new trend. There are several possible factors that may be playing a role:

  • One factor could be the anemic wage growth experienced during the recession. People will probably have an easier time affording a new apartment, but can’t easily afford a new house.
  • Banks have remained reluctant to lend money to consumers, in spite of the fact that the economy is gaining steam. Speculation that Federal Reserve Chairwoman Janet Yellen will raise interest rates has also fueled concerns that some homeowners would default on variable interest mortgage rates.
  • The population density of Columbus is growing rapidly. Developers may start to run out of area to develop new properties.

All of these factors indicate that there may be a growing housing shortage on the horizon. As a result, many homeowners may invest in new renovations to increase their property value to sell at a significant premium down the road. However, it is also possible that homeowners may be reluctant to make improvements that may cause the value of their house to increase above prices the market is willing to pay, because they may have to reduce their prices.

Their decision may ultimately be dependent on the direction of the market. However, most homeowners will probably try to make necessary improvements to preserve their homes to ensure they last, since housing will be such a valuable asset in the coming years if the shortage is not adequately addressed.