Covenant-A binding agreement. Usually formal, solemn, and binding agreement.
References have been made in the bible to covenants between God and his people.
In an neighborhood in Atlanta covenants are 50 plus pages of restrictions!
A quick story that relates to the subject. I recently received a phone call from some close friends that live in a covenant protected neighborhood in Atlanta. This neighborhood has held its home values despite the local market. They are also located in an area with a top ranked public school system.
They told me they wanted to move. Matter of fact they had found a home with two acres in the same school district. The land was beautiful, the home was definite step back, but this represented a new lifestyle.
Why the change? Neighbors and covenants!
Neighbors: We have no power to select our neighbors.
Covenants:They followed the covenants. Unfortunately other neighbors felt differently.
My take: I own properties in Georgia and Florida both of which have covenants. They are a necessary evil. Unfortunately trying to keep 500 individual homeowners on the same page, without the written word, has been a failure. Covenants became a necessity.
We make sure that our clients have a copy of the covenants to review during due diligence. They need to read them and make a commitment to abide them. If they are too much then we need to look elsewhere.
Bottom line:THEY ARE FOR EVERYBODY IN THE NEIGHBORHOOD NOT EVERYONE ELSE BUT YOU!
If you are looking for properties in the North Atlanta area let us know. We are The Wells Team of The Norton Agency. A combined 42 years living in the North Atlanta area!
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