Love them or hate them, twenty-nine percent of the U.S. population lives in an HOA community. For some, it's unavoidable. For others, it's very desirable.
Do you live in an HOA community? Do you enjoy the amenities it offers? Do you appreciate what the homeowner's association does for your home's value?
Increasing the value of your property in the HOA community doesn't have to be difficult. Keep reading to learn five helpful tips for increasing your HOA home value.
1. Enforce HOA Rules
While some rules may seem like overkill, homeowners benefit from the enforcement of the rules and regulations.
By enforcing rules like only allowing specific paint colors for the exterior of the homes or where you can park your car, the community maintains a certain image.
The HOA even intervenes to settle neighbor disputes with the goal of harmony between residents.
HOA rules exist to maintain and increase the property values of homes in the community.
2. Maintain Common Areas
When potential buyers come into your neighborhood, the common areas are going to be the first thing they see.
When the common areas are well-maintained by the management company, it projects a positive image. It makes the neighborhood more desirable to buyers.
Location, location, location! Even if the home isn't exactly what the buyers want, the location may push them into making an offer.
3. Create an Appealing HOA Community
Does your neighborhood have a reputation for being a great community in which to live?
Does it have a small-town feel? Are the neighbors friendly?
A safe, tight-knit community where residents have fun together is a huge draw for potential buyers. As word gets around, property values increase.
4. Up Curb Appeal
Encourage homeowners to keep their yards maintained. Offer prizes for yard-of-the-month.
Send out reminder letters when homes and yards are not looking their best. Maintain sidewalks, trails, and streets in the community.
5. Host Community Events
Community events like charity runs, holiday parties, bands at the park, and neighborhood clean-ups help to create a tight-knit community.
They offer things for people to do without having to travel far from home. Home buyers look for neighborhoods where they will feel like they're part of a group.
Does an HOA Improve Property Value?
A home located in an HOA community does enjoy increased property values. Being a part of an HOA is considered an asset when looking at the value of a home.
If you are considering where to buy a home, put HOA community in the plus column. You won't have to worry about your return on investment (ROI).
Up Your HOA Home Value
Now that you know these five tips for increasing your HOA home value, it's time to put them into action.
Do you know who can help you meet the needs of your community? We at PMI North Dallas have a team of experienced HOA management professionals.
We can customize our services to match the unique challenges of your neighborhood community. Contact us today for a consultation by clicking here or calling 972.702.7180.