A key benefit of purchasing an HOA home is its proven ability to gain value faster than comparable non-HOA homes. In Roswell, GA, buyers of HOA homes expect the same result.
However, have you wondered what makes HOA homes appreciate better or at least hold on to their value? Many variables can affect property values, but for HOA homes, the association community wields a lot of influence.
In this article, our focus is on how to boost HOA home value. Read on for expert insight.
1. Planned and Controlled Development
You must have seen structures come up in neighborhoods that left you wondering whether anyone put any thought into it. Without well-thought-out building regulations, it's easy for neighborhoods to spiral into sore sights, negatively affecting neighborhood property value in the process.
On the other hand, homeowner associations are master-planned communities with architectural harmony at the center of everything. Homeowners are barred from making any changes that will change the architectural style of the home. This helps the community maintain its look over time, in the process preserving home values.
2. Upgrading Community Assets
Every HOA has community assets like clubhouses, swimming pools, pet parks, gates, and driveways. Homeowners pay HOA fees, from which the community's leadership finds funds to pay for their repair and maintenance.
However, a well-run community does more than just maintain communal facilities. It makes continuous upgrades, adding new facilities that make living in the community more enjoyable. For example, if the community didn't have a fitness center at its inception, the facility can be developed using surplus funds from the HOA fees collection.
Such upgrades add to the community's appeal, driving the demand for its homes to new highs. With increased demand, property values will inevitably trend upwards.
3. Upholding Community Reputation
An association community is like a neighborhood. And everyone aspires to own a home in a neighborhood with a good reputation.
Fortunately, HOA neighborhoods have an easier task of building and maintaining a good reputation that will attract buyers. To do this, they can deploy various tactics, such as:
- Vetting potential home buyers to exclude those with the potential to violate the community's rules
- Enforcing HOA rules
- Launching branding and promotional initiatives
- Supporting local community initiatives.
The leaders of an HOA (board members) can also contribute to the community's reputation. Being the face of the HOA, they can take part in media interviews, helping paint the community in a positive light.
Boost Your HOA Home Value
As an HOA community, there's a lot you can do to boost HOA home value. Unfortunately, some HOAs fail to deliver on this mission because they don't embrace the best community management practices.
You can solve the problem by outsourcing the day-to-day administration of the state to a local association management company. In Roswell, PMI Roswell is the go-to management company, and with good reason. Although the firm is locally owned and independently operated, it's part of a dynamic national property management franchise with over 20 years of experience.
Contact us and let's work together to achieve enhanced property worth in your community.
