Did you know that over 5.5 million Americans in Texas are part of a homeowners association? HOAs provide numerous benefits to any community, and many homeowners find them well worth the cost.
Have you ever wondered how joining a homeowners association can impact HOA home value? Here are five things that an HOA will do to boost property values in your area.
1. Financial Stability
With proper HOA management, your community can continue to have high property values. The allocation of HOA fees is important to serve the community.
For instance, with a healthy cash reserve, your HOA can set aside money for repairs and maintenance. This will contribute to keeping community spaces looking beautiful and updated for residents.
2. Community Reputation
HOA communities tend to be safer and have better reputations. With enforced rules, it is less likely neighbors will take action to upset the community.
Longevity is also a key factor when it comes to overall HOA reputation. Residents in a safer community are more likely to stay in their homes longer, whereas badly managed HOAs have higher turnover.
3. Guidelines for Exteriors
If your neighbor decided to paint their house an atrocious color or place disturbing lawn decorations, would you be upset?
Luckily, homeowners associations often have strict guidelines for exterior elements, such as paint and landscaping. When you want to make a major change, you need to submit a request that will go to the HOA board for approval.
When people drive through the neighborhood, they will see uniform homes with beautiful landscapes, rather than unsightly eyesores like gaudy decorations and yard junk.
4. Perks and Amenities
One of the biggest benefits of HOA living is the availability of amenities. These can range from simply having a landscaping service to perks like pools and gyms.
Potential residents will sometimes pay a lot more for access to these amenities. If they use them regularly outside of the home, having them included in a monthly fee may save money. They will no longer have to pay for gas or membership fees.
5. HOA Fees
The idea of paying fees to live in a community may be a turn-off for some prospective residents, but it can attract others. An extra HOA fee can induce feelings of exclusivity and belonging to a high-end community.
As long as he or she sees the benefits of the fees, an HOA homeowner will continue paying them to maintain their place in the community.
Raise Your HOA Home Value Today
If you are wondering whether to move into an HOA community, you should consider the many factors that impact HOA home value. With this guide, you can determine whether it's worth it for your real estate needs.
Are you searching for the perfect HOA property in the Houston area? PMI Fine Properties is here to help you with your real estate needs.
With a variety of services offered and a wealth of expertise, we can assist you with all aspects of property management. Reach out to us today for more information, or to receive a free rental analysis.
