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A funny thing happened to architects
during the Depression. Mr. Roosevelt, through the WPA, gave
them jobs designing houses at a time when most people could
barely afford to eat, much less buy a new house. And what
they designed gave rise to a new theory about how and where
Americans should live -- theories that reverberate today in
some of the neighborhoods that you'll probably be looking
at as you hunt for your new home.
These designers thought it would be swell if every family
could have a detached home with a little yard out back. They
also liked the idea of what they called "community."
(This was, of course, a precursor to what we at the Fool mean
by "community" on our message boards!) Community
was a concept that included things like groups of neighborhoods
with their own schools and shopping areas, but which were
united within a larger municipal complex. Sounds old hat,
you say? That's because you probably grew up in a suburb that
came out of these pretty radical ideas of the '30s and '40s.
The first town to receive prominence using this design idea
was Levittown, New York. A bustling planned community equidistant
from New York City and the booming defense industrial plants
on Long Island, Levittown and its cookie-cutter houses were
aimed at returning GIs and the baby-boom children that were
about to be produced. Within two decades, the offspring of
these early ideas -- the "planned unit development"
or "PUD" -- became the norm for America's suburban
expansion. Sometimes entire cities like Columbia, Maryland
-- built by the Rouse Company (NYSE: RSE) -- and Reston, Virginia
were created from the ground up.
If you purchase a home in one of these planned communities,
you'll probably find attractive houses with smartly manicured
yards. You'll also find a strong home owners association or
development company that has the ability to do some things
you may not like.
For instance, zoning regulations or restrictions in your deed
may limit the colors you can paint your house. They can also
require that your grass be kept below a certain height. You
might not be able to have a dog, or if you do, you will have
to prove to the association that he's had all of his shots.
You just can't wait to go to Wal-Mart for your new lawn's
pink flamingoes? Think again. While many towns have ordinances
similar to these, the truth is that most municipalities look
the other way unless someone complains loudly. But if you
live in a planned community, expect that these restrictions
will be enforced vigilantly.
Your real estate agent will be able to tell you if the house
you're looking at is within a community where restrictions
like this occur. Ask to see exactly what would be expected
of you as a homeowner and a list of any restrictions that
you will be asked to abide by. Also, are you required to join
the any kind of associations? Are there fees involved? If
so, how much voice will you really have in how things are
run?
Expect a similar experience if you decide that instead of
a detached house, you want to buy a condominium or a co-op.
Particularly with these two types of homes, the idea of "community"
is of paramount importance and will heavily affect how much
you will enjoy your new home. |
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