Q:  We have looked at several homes that fall within homeowner’s associations at Lake of the Ozarks.  The long list of rules and regulations is mind-boggling and has left us unwilling to make a final decision.  Can you please offer some hints on how to proceed?

A:  The most helpful and obvious hint that I can offer is to make sure that an experienced and professional realtor represents you.  In the Lake area alone there are in excess of 200 community associations also known as homeowner’s associations, property owner’s associations, condominium associations and other various terms.  The common denominator in all of these associations is that their ultimate goal is to preserve property values. 

This is a perfect example of why it is so important to do your research and choose a real estate professional who has experience in your area.  Once you have identified the realtor that you intend to work with  you should begin to develop a relationship with this person.  The more your realtor knows about you  and your family, the more likely is it going to be that he/she will be able to steer you toward the properties that are right for you.

The average buyer, after learning a property is part of a homeowner’s association, will most likely ask what the assessment fees are and what they can expect in return for those fees.  What the buyer may not think to ask is, what is expected of me in return?  What is expected of each property owner is spelled out in the regulations and restrictions printed by each association. 

The regulations and restrictions set forth by these associations may vary to a great extent.   Where one association takes no stand on pets another may adamantly rule against pet ownership.  Such extreme variations in rules increases the need for the buyer to be well informed thereby increasing the need to be represented by an experienced realtor. 

By taking the time to get to know your realtor you are taking the steps that will help to ensure your buyer’s agent has the necessary information to better serve you.  By taking the time to become involved with your new homeowner’s association you can help to ensure the continued protection of your property.