Buying A Home • July 21, 2022

Preston Hollow Single Story Home For Sale

by Karen Cuskey

Welcome to Preston Hollow, one of Dallas’ most sought-after neighborhoods, and wealthiest too. In fact, a former president calls it home.

Preston Hollow residents love the convenient location with easy access to Northwest Highway and the North Dallas Tollway it’s a short trip to airports, downtown and nearby shopping at North Park Center, Preston-Royal Shopping Center, and Preston Center. Many residents choose the location because of it’s easy access to premium private schools.

This Preston Hollow Home is listed by Karen Cuskey-Hartman. It’s a one-of-a-kind, single-story home perfectly perched on a creek lot at end of a very quiet cul-de-sac. The sellers built this home in 1999 and designed it for entertaining. Massive open concept living where natural light spills in from double-paned Pella windows that wrap the home with views of the multi-tiered, park-like backyard and creek. Split bedrooms with private ensuites and separate entrances make this home perfect for multiple generations, families or just the dynamic duo focused on entertaining with AWE.

Features include Permian basin limestone floors and columns (columns are not load-bearing), oak floors in bedrooms, new roof (includes warranty), tankless water heater, Bouvet hardware, and more. *This home can easily be updated for ADA compliance. Contact Karen 214.454.4917

What the Seller’s Love

Huge open spaces perfect for entertaining small and large-scale events.
The location, great nearby restaurants, and easy access to major thoroughfares.
Our neighbors are wonderful, we already miss them.
The flow of the home is great when guests are in town with lots of privacy and separate entrances.
We thought we’d be in this home forever and we built it so it’s easily converted for ADA compliance.
The outdoor space is so peaceful and the fact that we are at the end of the cul-de-sac means no traffic.

Take the Tour

Buying A Home • July 21, 2022

Growing Family? 7 Things You Need to Know Before Buying Bigger

by Karen Cuskey

Purchasing your first home is one of the most meaningful steps into taking ownership of your life and starting a family. But as you get older, the idea of buying bigger might become more of a necessity, especially as your family grows.

If you find yourself dreaming of wide-open spaces, you aren’t alone: 43-percent of homeowners want to move into a larger home according to a Trulia survey. But when it comes to putting the pen to paper, it can be hard to find the right time to sell your home and upgrade.

So how can you prepare for your home upgrade? Here are seven things to consider before you throw your house on the market and start shopping.

When to Think About Buying Bigger

A great starter home can quickly fill up with furniture and other household items, but that doesn’t necessarily mean it is time to move. Once you experience big life changes like having children or adopting pets, then it might be time to consider the need for additional space.

You can always rent a storage unit or minimize home furnishings, but it is hard to turn a two-bedroom home into a comfortable space for three or four people to share.

Bigger Is Not Always Better

A bigger house may seem like the solution to all of your family’s growing pains, but have you considered what kind of space you need and why? Before you start hunting for a new home, think about what exactly you need out of a larger space.

Create a list of your goals to help you find the home that will work best for you for the long term. Remember, layout is just as important as square footage and bigger is not universally better.

Sell Before You Buy

Unless you are prepared to carry two mortgages at once, you should consider selling your home before buying a new one. The profit you make from selling your current home should put a sizeable dent in the upfront costs of your new home, including closing costs, down payment and moving fees. Otherwise, you may be in for a tight couple of months or more if your home does not sell immediately.

Finding the Right Price Range

You don’t have to borrow the highest amount the bank will loan you. These days most people don’t live in their houses for the full 30 years of their mortgage; if you borrow less, it will take less time to pay off your loans. Avoid the depressing reality of paying off your house for your entire life by targeting homes that offer the amount of space you need, not the amount of space you can afford.

Do you want to take family vacations or save for your children’s college? When you spend less on your mortgage payment, you also afford more down the road. Not maxing out your home loan, means that you will have more flexibility for other forms of spending in the future.

Moving to a New Neighborhood

One of the biggest selling points of large homes is the neighborhood. Larger homes generally mean you will be living around like-minded families with similar priorities in terms of safety and overall quality of life. But with these perceived benefits, also comes higher expectations of upkeep and often moving away from cities and into the suburbs. As you shop for a new home think about changes to your daily commute, access to grocery stores and other amenities that will impact your day-to-day schedule and future property value.

Consider Your Mortgage and Resale Value

Upsizing now might mean a larger mortgage payment, but if you plan ahead then it can mean making a considerable amount of money in the future. Once your children move out, you may want to downsize, so consider the location and potential resale value 20 years down the line when you are looking at larger homes today.

Crunch the Numbers on Hidden Costs

Remember that upgrading to a larger home is more than a larger mortgage. Hidden costs include more spent on utilities, upkeep and property taxes, as well as needing to furnish more rooms.

Painting and other DIY projects become much larger undertakings, so if you’re looking at a fixer-upper, consider that larger homes require more time and money on the front end.

Family growth means not only a bigger house but likely an upgrade in other areas as well. You may be looking at buying an SUV fit for a family, so make sure to budget for that in the future.

Ultimately, there’s plenty to consider when you’re thinking about buying bigger, but our experts can help you find the perfect home upgrade. Contact us today for all your Dallas-Fort Worth real estate needs.

Real Estate Tips • July 21, 2022

5 Tips to Help Kids Survive a Family Move

by Karen Cuskey

While living in a new home in a new city can be an exciting change, the process of moving is often inconvenient for anyone looking to relocate. Very few people look forward to sorting through all of their belongings, packaging everything into boxes, lifting heavy furniture, and then unpacking it all at a new destination. Let’s face it – moving is a hassle.

Now imagine moving with young children at home. Along with all the additional clothing, toys, and furniture that have to be moved, it’s also important to keep your children informed and involved in the move in order to make their transition into their new home as seamless as possible. Nothing makes a move more stressful than children who are kicking and screaming every step of the way.

There are some key things parents can do to help their children warm up to the idea of moving and even feel excited about the impending change. Here are five tips to help kids survive a family move.

1. PLAN AHEAD

If your move is flexible, choose a time that won’t disrupt your children’s normal schedule. If your kids are school age, a move during the summer is ideal. Not only will this be less disruptive to their lives, but it will give your kids the opportunity to start fresh at the beginning of a new school year, rather than forcing them to change schools mid-year.

While you may be able to get away with packing just a day or two before a move when you are moving alone, this is not the case when moving with children. When there are kids in the mix, it is best to begin packing months before the move. Start with mementos and lesser used furniture, but always remember to pack one box of toys last.

One final thing to plan before the big move is a “see you soon” party. This will give your kids a chance to celebrate this occasion with their friends. Gift them a box of stationary and collect their friends addresses so they can start pen pal relationships.

2. COMMUNICATE

Communication is key when it comes to surviving a move with children. It is important to be upfront with your kids from the very beginning about your plans. Consider telling them about the move over a family meal. Order their favorite pizza and deliver the news in a positive environment.

Talk about the move daily. Keep your kids in the loop about what the process of moving will be like as well as how life will change. Have a plan for moving day so they know exactly what to expect. This will help alleviate any anxiety surrounding the move.

Get them excited about where they will be living by talking to them about the new house and new neighborhood. Do some research on local parks, ice cream parlors, community pools, and other attractions so they will have plenty to look forward to.

3. INCLUDE THEM

Make sure your kids feel included in the moving process and remember that they can participate in the move long before the official moving day. Ask them to help by going through their clothing and toys in preparation for a moving sale. Offer them a percentage of the profits that they can spend once you arrive in your new neighborhood.

If your kids are a bit older, include them in the home buying process. Bring them along while you look for new homes and once you narrow it down to your top two or three, ask for their input. This will help them feel more excited about the move as they will feel as though they played a role in the decision making.

While packing, provide them with different tasks that will keep them occupied. Consider using a coding system for boxes by using different colored tapes or stickers to indicate which box goes in which room. Ask your kids to help label the boxes and then direct where to put each box in the new home.

4. BUILD EXCITEMENT

Whether your new home is within driving distance or not, there are many things you can do get your kids excited about this big change. If possible, take them to visit the new home and explore the neighborhood. Give them an idea of what life will be like after the move.

If you are moving to a different city, it may not be possible to show your children around ahead of time. Instead, get them excited about the journey to the new home. Treat the move like an adventure by buying a map and creating a route that includes sightseeing and other fun attractions along the way.

If your kids are a bit older, give them the freedom to do some research ahead of time. Show them how to learn more about the new city by providing them with books or websites with information about the neighborhood and the many things to look forward to.

5. HELP THEM SETTLE IN

It’s important to help your children settle in to their new surroundings no matter how excited they are to be there. Unpacking may feel like a full-time job but be sure to take frequent breaks to explore the new neighborhood with your kids. Go grab an ice cream cone or throw on your swimsuit for a day at the local pool. Give them an opportunity to meet friends who will go to the same school by enrolling them in activities such as summer camp or team sports.

Help them get accustomed to their new space by asking for help decorating their room. If they are too young to make design choices on their down, decorate the room using their favorite color or ask for their input on specific decorations. After you are unpacked, and the home is decorated, host a housewarming party and invite local families with children around the same age.

Real Estate Tips • July 21, 2022

What to Do Before You Start Your Home Search

by Karen Cuskey

Buying a house in Dallas is exciting. The city is rapidly rejuvenating, with many neighborhoods seeing new development and great renovations. The trend indicates long-term appreciation for homebuyers, especially in the historic zip code of 75206, which encompasses Knox-Henderson, Lower Greenville, and other neighborhoods along the eastern edge of Central Expressway.

The road to homeownership is time-consuming and requires proper preparation, especially in a city that’s always buzzing with activity. Stress is inevitable but can be minimized. When you start actively shopping, make sure you do so wisely and within your means. Determine your budget, the features you want in a home (i.e. a large backyard with pool, open-concept floorplan, master bedroom downstairs, in-home office, etc.) and ideal neighborhoods. Despite what you’re pre-approved for, make sure you’re shopping wisely and your price range reflects your fiscal reality. The last thing you want to be is “house poor.”

Dallas transplant from Oklahoma City and Knox/Henderson neighbor, James Clements, says there are two keys to finding your home in Dallas. There’s a lot going on in a large city, so, “first, know yourself and, secondly, have a good realtor.” He hates driving in big cities, but love the outdoors, so he wanted to minimize his commute to work, and live within walking or riding distance of fitness trails, quiet suburban streets, and a lake or green space. Knox/Henderson and its new construction fit the bill.

“I can know myself to the best of my abilities, but if my realtor doesn’t get what I’m trying to say or doesn’t know the city well enough to point me in the right direction, the process of finding a home can take longer than necessary, which costs time, money, and lost opportunities for the right home. Thankfully, the folks at the Hartman-Terilli Realty Group know their stuff. Having them made all the difference,” Clements said.

You are buying a home with a new lifestyle and new friends to follow; it’s a package. Whether you are a Dallasite moving to a new, unfamiliar neighborhood or relocating to the city entirely, it still applies. Use all available resources. A good real estate agent is at the top of the list, though your friends, co-workers, neighbors and family members follow closely behind. Also, as with your agent, make sure you find a loan officer that you’re compatible with and get yourself in a strong position with a pre-approval letter because, like Clements said, you don’t want any lost opportunities.

If you’re shopping Dallas or thinking about starting your home search, this Sunday, Aug. 26^th is the perfect time for you to experience the rich history, diverse culture, and entertainment value of a lively East Dallas neighborhood during a free three-hour home tour. In a unique collaboration, hyper-local Dallas real estate agents with listings in 75206 will host simultaneous open houses from 1-4 p.m.

On the day of the 75206 home tour event, all agents will use their own directional, and Guaranteed Rate will place a red balloon on the signage at all open houses. For more information, contact Karen Hartman at 214-454-4917 or email at Karen.hartman@cbdfw.com.

Real Estate Tips • July 21, 2022

Realtor vs Real Estate Agent: What’s The Difference?

by Karen Cuskey

Are you working with a Realtor or a real estate agent? Often, people use the words interchangeably to refer to any individual who handles real estate transactions, but that’s not correct.

A real estate professional can be classified as a real estate agent, realtor, and/or broker. The difference between these titles are the levels of education, experience, and affiliation. So, what are the differences of a realtor vs real estate agent and what do they offer? Are all real estate agents realtors or is there more required to be one or the other? We’ve got the inside scoop.

Real Estate Agent

A real estate agent is a person who is licensed to represent buyers and sellers in a real estate transaction. The steps to becoming licensed vary by state but typically include a minimum number of instructional hours and the passing of a real estate licensing exam. Additionally, many real estate agents have also passed a state background check and have business insurance.

Agents are the most common real estate professionals that you’ll run across. All real estate brokers and realtors are real estate agents, but not all real estate agents are brokers or realtors.

Real Estate Broker

The differences between a real estate agent and broker have to do with education. A real estate broker has pursued a higher level of licensing after working in the industry for a set amount of time. In addition, to become a broker you should be verified by a principal broker and pass a broker exam specific to your state.

In the end, the most telling differences between a real estate agent and broker are their level of experience. A broker has at least worked in the industry buying and selling homes for a few years.

Realtor

The final title is that of a realtor. A real estate agent and a real estate broker can both be realtors. The key to being a realtor vs a real estate agent is belonging to the National Association of Realtors (NAR). Only members of this association can be identified as a realtor.

What makes a realtor unique? members of the NAR have all taken a pledge to follow a set of ethics and guidelines that ensure their integrity. These codes of ethics carry weight for a realtor in their day-to-day business practices and cover a wide range of pledges:

Shall put the interests of buyers and sellers ahead of their own.
Shall cooperate with other brokers and agents if it’s in the best interest of the client.
Shall refuse fees from more than one party without consent.
Shall always present the truth in advertising.

All in all, the REALTOR Code of Ethics offers a very specific outline for how an agent or broker should think, act, and perform their duties. This is not to say that the main broker and realtor difference is the type of individual—an ethical or non-ethical person. A broker can follow these same ethics guidelines without being a member of the National Association of Realtors. However, being a member of the NAR does offer a course of action if you have a complaint; you can contact your local board of realtors.

Choosing Your Real Estate Professional

So, how do you choose the right real estate professional for you? The right individual will be different for every transaction, homebuyer, and seller. You need to decide if having a few extra years of experience and education or adherence to a specific code of ethics makes you feel more comfortable hiring one person over another.

No matter whom you decide, we recommend carefully vetting all your candidates and reviewing their qualifications before making your choice. A realtor isn’t necessarily better than a broker, and an agent isn’t necessarily less experienced than a broker. It all depends on their qualifications. Vet wisely.

SOURCE: Coldwell Banker

Real Estate Tips • July 21, 2022

How Electric Cars Are Driving Change For Dallas Real Estate

by Karen Cuskey

Luxury Meets Technology: How Electric Cars Are Driving Change For Dallas Real Estate

Electric cars are driving into the future of real estate and luxury builder Martin Evenson of SouthernView Residential is leading the charge. Take his most current creation for instance, an energy-certified smart home in the coveted Dallas neighborhood of Devonshire. Located on a wide lot suitable for a pool, their 2018 new-build at 5516 W Hanover Dallas, Texas 75209 is professionally dressed for the future with luxury amenities at every turn, including an EV charging station in the two-car garage.

“In five years or so, I believe at least 35 to 40 percent of all the new cars sold will be electric,” says Martin Evenson of SouthernView Residential. “The world has gone battery-powered; we need to accommodate today’s lifestyle and continue to adjust to what’s coming. When I build a house, I look into the future for the buyer to anticipate their needs. They might not need a charging station today, but there is a good chance they will want one before long and I don’t want them to have to re-invent the wheel when that time comes. If the amenity was not there they’d need to tear out the wall and re-patch it to install a charging station.”

In 2013, the City Council of Palo Alto, Calif. made it illegal to sell a new home without an automotive charging station. One council member told Palo Alto Online, “We have electric-vehicle owners who aren’t able to drive their vehicles to Palo Alto because they can’t charge up when they get to work.”

This is not just happening in California, though. According to Bloomberg NEF (BNEF), by 2040 55% of all new car sales, and 33% of the global fleet, will be electric. Today, there are roughly 15,932 charging stations in the U.S., 176 in the Dallas/Fort Worth area.

In Dallas, SouthernView is responding to the trend.

As we prepare to welcome potential buyers to the new home on W. Hanover, we have also welcomed a beautiful new electric vehicle, BMW’s i8. The chassis for this car was updated last year and comes with three packages: the lighting package, the M sport package, and the premium package.

BMW is preparing to mass produce 20 electric cars by 2020, whether that be a hybrid or a fully electric car, said Sales Associate Jacquilyne Adair at Sewell BMW of Grapevine, who helped us put the BMW on display in this new Devonshire home.

This new trend in high-end real estate is on the cusp of being today’s norm. With the purchase of this home, the buyer(s) is crossing the threshold into the future that has already transpired to some extent.

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BMW’s i8 staged in the garage of this SoutherView home. Features of the car include: 19” wheels, heated steering wheel, run flat tires, floor mats, Apple carplay, navigation, lumbar support, and a Harman Kardon surround sound system.”

Selling A Home • July 21, 2022

What’s the Best Time to Sell Your House?

by Karen Cuskey

Selecting the right price is obviously a critical factor when putting your home on the market, but there’s another important consideration that is often overlooked – timing. Choosing the best time to sell a house can minimize your stress and maximize your sale price.

Nationwide, the spring selling season is the best time to sell a house. However, which day of the week you list your house can also influence the sale and days on market. You want to pick a day that will make sure people learn about your listing online, especially in the first 14 days when sellers get the most digital traffic.

Think about how your daily routine transitions from the beginning to the end of the week. In the first part of the workweek, Monday-Wednesday, potential buyers are probably not focused on house hunting. They’re returning to work, focusing on other deadlines and trying to make it to hump day. Also, federal holidays generally fall on Mondays.

By Thursday, however, buyers are starting to think about their weekend plans and looking for open houses – that’s the best day to hit the market. Your home will show up on the computer screens of countless buyers as a new listing, setting you up for a successful open house on Saturday and/or Sunday.

Waiting until Friday puts your listing in competition with Friday night fun and other weekend activities that have nothing to do with real estate. Saturday and Sunday listings are too late to catch the action.

And once your house is listed, spread the word with your neighbors, both as a courtesy and because they are the best ambassadors for your street. They will tell their friends about your listing and your neighborhood, and might even encounter people coming to your open house.

While the expression that “timing is everything,” might be overstating it when it comes to real estate, it’s certainly an important consideration when choosing the best time to a sell a house.

Ready to start your journey? And sell your house fast?

Selling A Home • July 21, 2022

Dallas Home Staging: The Biggest Bang for your Buck

by Karen Cuskey

Think of your headshot and how you want others to perceive you, but in this case, it’s how they perceive one of your most prized possessions. Professionally staging your home to appeal to the buyer masses is an invaluable marketing technique. You only have one chance to make a first impression, make sure your home’s online presence is exceptional because even if someone isn’t physically in your house they are constantly analyzing it. Good home staging equates to great photos, which raises desirability and gets prospects in the door.

Every home tells a story and shows the owner’s personality, but in this synopsis, you’re leaving the personality of the home up to the imagination of the buyer. You are dressing your house for success like you would yourself.

A professional stager is an unbiased 3^rd party that will tell you over a basic consultation if your home is too cluttered and/or overly personalized. A Buyer will develop an opinion of your house in the first 15 seconds, so maximize your space and get rid of anything that you can live without or don’t need. Or, move items to storage. Remove all personal photos, family heirlooms, anything too ostentatious or anything that could distract a buyer from the star of the show, your home.

“We want to show a warm and comfortable home where the potential buyers find themselves mentally unpacking as they walk from room to room,” says Betty Jeffrey’s, a certified stager with Simply Staged 2 Sell, a home staging company she started in 2011 located in Richardson, TX.

Rearrange the furniture to make the rooms look bigger. For example, if you have a large living room couch that fills the room, replace it with a smaller one. Jeffrey’s says she places the furniture strategically using accessories to make the eye travel throughout the house showing every aspect of it.

Pops of color throughout the home will look great in professional photos and will also help tie everything together. When asked her thoughts on color Jeffrey’s said that she personally uses color in the artwork and accessories and keep the furniture more neutral, which works well in modern and contemporary homes.

Despite being an added expense, home staging can potentially help sell your home faster and supersede the list price. Jeffrey’s most recently staged our listing at 5875 Ross Ave #9 Dallas Texas, 75206.

Need a staging quote? Click here

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Selling A Home • July 21, 2022

8 Overlooked Items When Preparing Your Home for Sale

by Karen Cuskey

So you’ve prepped your home cosmetically for sale in every imaginable way – fresh paint, a deep cleaning, new landscaping, decluttered closets and even organized the garage! Your house looks better then it ever has and you are ready to hit the market! Before you proceed with the “For Sale” sign in the ground, there are several key pieces of information when preparing your home for sale that you should consider gathering that today’s savvy buyers are going to want to know.

1. Survey

Do you have a copy of a current survey on your home? Have this document available and provide to your listing agent so they can include in the information about your home. Buyers want to know about property lines, easements, conservation buffers, if there is room for a pool, if the property line extends to the water behind your home, etc. Having a survey to provide upfront will help to eliminate these types of concerns vs. waiting until a property is under contract.

If you’ve made any changes that would affect your property such as adding a pool or fence since you took ownership and are not shown on your current survey, it’s important to advise the buyer. A new survey will usually need to be ordered prior to closing in this scenario. If you don’t have one from when you purchased the home, try contacting the title company or attorney’s office that handled the closing of the property. Depending on how long ago that was, they may be able to retrieve from their archives.

2. Floorplan or Appraisal Sketch

Buyers often need to know room dimensions as it helps with determining furniture placement and to ensure how what they have will fit (or have to be reconfigured) in the new space. As any real estate agent can attest, many hours have been spent measuring spaces while looking at a home and comparing that against the existing buyer’s furniture dimensions.

An appraisal is helpful as it can confirm the exact square footage of a home vs. relying on tax records which may not be accurate. We’ve all heard stories where the appraisal showed the actual square footage that was smaller than what was initially represented in a listing sheet. Having an appraisal will help to ensure that does not happen. You should have received a copy of the appraisal if you obtained a mortgage loan from your lender or if you refinanced. If you don’t have either, consider having a floorplan drawn up or home measured by an appraiser when prepping your home for sale. Your agent can assist with resources to this effect.

3. Utility Bills

Buyers want to get an idea of what they can expect the heating and cooling bills to be in a home. Review your bills over the last one to two years to get an average in the various seasons, or call your local utility provider as they can often provide you with information on the high, average and low costs. This information can be very beneficial when a buyer sits down to number crunch their total costs of owning a home. If you had an unusually high or low bill, provide some explanation to accompany the numbers.

4. Pest Control

If you maintain any type of pest control on your property, compile information as to who the provider is, what you have done, how much you pay and how often does the company come out to treat the property. A copy of your service agreement is helpful in this instance.

5. Insurance

Buyers especially want to know who a seller uses for their homeowners insurance and how much they pay. This is particularly the case in higher risk areas (where there are hurricanes, floods, fires, etc.) With homeowners insurance potentially more difficult to obtain in some areas, going through the existing seller’s insurance company can help streamline the process, particularly on an older home.

6. Product Manuals and Warranty Documents

Now is the time to gather the various product manuals for all items that will be staying in the home such as appliances, water heater, heating and cooling system, ceiling fans, pool equipment, etc. If your home came with any warranties, be sure to include these for the new owner as well. Putting all of these in one large envelope makes it easy for everything to be readily accessible in one place for the new buyer.

7. Service Providers

Compile a list of all service providers/vendors and their contact information who you have used on your home – lawn service, pool service, A/C company, etc. While a new buyer may or may not choose to use these services, they will certainly appreciate having resources available to them and may elect to initially use them as they make the transition to living in your home.

8. Covenants and Restrictions, Neighborhood Rules and Information

This is key critical information for a new owner to have on hand. A contract may likely hinge on the buyer’s review of this information, so easiest to have it available ahead of time. If you don’t have these, contact your neighborhood’s association president or management company for assistance in obtaining a copy. Many of these documents are matters of public record and are available by going online to the appropriate municipality’s website.

Work with your agent to create an informational package or binder that you can provide to prospective purchasers that come through the home with the information mentioned above. Gathering this information before you put your home on the market will save time and make the process that more efficient once you find a buyer. It may even help your home to sell faster as all of this information is available upfront, eliminating the need for guesswork and waiting on answers while another property could possibly come on the market to grab the buyer’s attention. You want to help keep the buyer focused on your home, so make it easy for them to buy by giving them what they want. Happy selling! You can read more home seller tips here.

SOURCE: Coldwell Banker

Buying A Home • July 21, 2022

HOA vs. NA – Are These Associations Right For You?

by Karen Cuskey

Homeowners Associations. Some homeowners love them while others loathe them. If you’re getting ready to purchase a home in Dallas, you may end up selecting a property that falls within an HOA or an NA, neighborhood association. Here is everything you need to know and consider when it comes to these associations.

What is a homeowner’s association?

Simply put, an HOA is a governing body nominated by those in the neighborhood to help ensure that the community looks its best and functions well. According to a report released by Realtor.com, 25% of American’s who own homes live within an HOA community.

HOA Fees

As a Dallas homeowner, it’s important to understand that each HOA varies and you will be required to pay monthly, quarterly, or yearly fees. The fees are structured based on the property size, number of residents, amenities, and more. I encourage you also to find out ahead of time if you could potentially pay additional fees throughout the year to cover unexpected expenses when the reserve fund is not enough. For many homeowner associations, the fees help to maintain common areas such as the entrance to the community, pools, fitness rooms, parks, and other amenities.

HOA Rules

Each Dallas homeowner’s association is going to have its own set of rules called Common Restrictive Covenants, CC&Rs. These government-imposed requirements let you know how the land can be used to help maintain the attractiveness and value of the property. When you find a home in Dallas that you love and you want to make an offer on, you will need to review the CC&Rs during your option period to decide if you’d like to move forward with the purchase. While each community varies slightly, here are a few things to expect.

What color you can paint your home
Landscaping standards
Fencing
Security lights
Vehicle storage and parking
Use of residence

HOA Rule Violations & Missed Dues

When you’re touring Dallas homes within an HOA community, your mortgage company will consider the fees when you’re applying for the loan. This will help you and the mortgage company know if the house fits appropriately within your finances, ensuring the fees won’t put you in a bind.

When it comes to rule violations, the consequence will vary, but it’s important to know that you could potentially face eviction from the property. If something happens and you violate a rule, work with your HOA board to fix the issue as quickly as possible.

Benefits of an HOA

For many, when it comes to an HOA, all they can think about are the rules and restrictions put on them. However, there are actually many benefits to living in a Dallas community governed by an HOA. These benefits include maintaining all the common areas, helping to mediate neighbor complaints, and the houses retain their value since the community is always maintained.

Neighborhood Association

A neighborhood association is a group of residents in a neighborhood who advocate for activities within the community. Many neighborhood associations still have elected leaders to help run the group and some even have voluntary dues. The biggest difference between a neighborhood association and a homeowner’s association is an NA is voluntary while an HOA is not.

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