What are restrictive covenants and how do they affect you? That’s the question we are here to answer today.
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What’s the deal with those nasty, restrictive covenants and how do they affect you? First, let me point out that they aren’t really nasty. In fact, they actually do you a favor. However, it’s important to check them out before you decide to buy a property or build a property in a certain neighborhood.
Many neighborhoods have restrictive covenants that will allow or disallow you from doing certain things. We’ve had people who didn’t check before buying and only found out they couldn’t do something when the time came to actually do it.
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Many times, these restrictive
covenants will benefit you.
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covenants will benefit you.
If you’re thinking of building, you definitely want to make sure you’re clear on any restrictive covenants in the area. Believe it or not, they have them in a lot of older neighborhoods. The restrictions include things like what kind or size of home you can build and what sort of business you can operate. If you plan on renting the home out or running a business out of it, you definitely want to check out not only your neighborhood restrictive covenants, but any restrictions from the county or city as well.
We find this information to be very helpful for potential buyers. If you have any questions for us or want to learn whether there are any restrictive covenants in your current area or the area you’re looking to buy in, give us a call or send us an email. We’d be glad to send that out to you and we’d be glad to answer any questions you may have. We look forward to hearing from you soon.
