[jyl]

If you will just doing on-going maintenance, then it doesn't sound like any restrictions on remodeling will matter to you. Now. Down the road, it might matter.

One thing I'd do, time and energy permitting, is to learn more about the panel and their past decisions. See what proposals they have turned down and why. Find out who is on the panel and if there is any way you can get to know them - attend neighbor association meetings, maybe one of them is a parent at your kids' school (if you have kids), you get the idea.

The reason is, if you decide that the situation is really bad - restrictions extremely onerous, panel are unreasonable dicks, no way you'll be allowed to do something that you definitely plan to do in the future - then you can start thinking about an exit strategy. And can reconsider any plans to really "invest" in the house. Or, can start thinking about how to change the situation.