Carol,

It's very dependent on the percentage of each type of home in your area. Said another way, answer the question "What is the make up of my community?" If it's predominantly homes without restrictions, and there's no perceived change in the make up in the future (e.g., most new home developments are predominantly homes without restrictions), then it's likely your market prefers no restrictions.

In general, homes with significant restrictions are a somewhat recent phenomenon (started in the mid-60s). Most are located in what is commonly called a Home Owner's Assocation, or a Property Owner's Association. Today, according to general market statistics, these "common interest developments" are the fastest growing form of housing, so it would seem to mean that the general market prefers it. But they do have their critics.

For a good overview on HOAs and the pluses and minuses, I wanted to include a web reference, but the system tells me it appears to be invalid. It is not, but I can't include it, so I'll try listing it here:

http://en.wikipedia.org/wiki/Homeowners'_association

Good luck,,

Jeffrey

Thu May 15 2008, 20:27

I believe that it all comes back to supply and demand. If any restricted or unrestricted area is flooded with homes for sale, it'll be tough. On the other hand, when, say, an active adult community has only one or two homes for sale, they go pretty quickly. I wouldn't worry too much about it. The bigger question is, do you like the neighborhood enough to want to live there for a long time? If so, go for it! Hope that helps!!!

Thu May 15 2008, 20:21

Carol -

This is an excellent question and difficult to answer. The preference of a buyer to purchase a home with an HOA or without an HOA is as varied as the preference of COKE or PEPSI.

Some buyers feel there are benefits to an HOA while others enjoy the flexiblty to handle thier property as they see fit. Every buyer will have a specific wants and needs list when buying a home.

Depending on the surrounding location, I do not feel buying with or without an HOA should be a concern in regard to resell.

Thu May 15 2008, 20:19