Tuesday, January 5, 2010

Restricted and Unrestricted Communities Clash!


Houston Unrestricted Property Clashes
with Deed-Restricted Neighbors.


There are many differences between a "Restricted" community and "Unrestricted" property.  This blog is committed to opening the conversation about such differences.  However, purchasing your home or building lot in a restricted community does not give you all the protections you may have expected.

This photo was taken on FM 2978, the road that runs along the most western side of The Woodlands.  The lot is usually muddy.  The highlight of the property is the large, dimpled and damaged dumpster.  And to the back of the lot, you can see the only plumbing facility...and it is portable.  While the seller of the property is maximizing his right to the "Highest and Best" use of the property until a buyer is found - the situation is not good for everyone.


The sad fact is that the "port-a-potty" is placed very close to a really nice house that you can see through the narrow strip of trees.  Can you see it in the background of the picture above?

When you come around to the other side, this is the home of some unsuspecting family.  Little did they know that the hard work done to create a great, private place in the restricted community of Westwood would become the backdrop for the metal roofed shed you can see beyond the trees from here.

This is one SCREAMING EXAMPLE of how quickly a real estate investment can become worth much less because of the actions of others.  Please know - I do not know the owners of either property.  But I would be willing to bet that the proud people who built this home did not anticipate having a muddy, unsightly commercial tract in their back yard.

Can this kind of financial mistake be avoided? The answer is YES!

One of the many things I have learned from decades serving real estate clients is that purchasing property on the perimeter of a restricted community can often expose the buyer to the risks of unrestricted property.  I spoke about those risks in a previous post, "3 Huge Pitfalls of Unrestricted Property", on November 28, 2009.  Although I am a champion for the benefits of owning Houston unrestricted property, I will be the first to tell you that there are HUGE mistakes that can easily be made by the inexperienced buyer.

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