About 74.2 million Americans (28% of the US population) live in a homeowners association. There are 358,000 community associations in the US, with homeowners associations accounting for 63% of them! Why are homeowners associations becoming a more popular form of housing?
For starters, they can boost home value and market appeal!
Read on to learn more about the connection between HOA and home value today!
Create Desire
One of the top benefits of having an HOA is that it triggers feelings of envy. Other neighborhoods and homeowners will want to be a part of the exclusivity your HOA offers. In an HOA community, everyone chips in to provide members access to additional amenities.
For example, a community with an HOA might have an on-site tennis court or pool.
Strangers are more likely to turn into friends who feel like family when you live in a homeowners association. You'll have peace of mind knowing your neighbors are people you can trust.
Creating a tight-knit community can become a draw to potential buyers. You'll boost the property value.
Beautiful Neighborhoods
Homes in associations have a collective value of $11 trillion. HOA fees help pay for maintenance services to ensure the neighborhood looks pristine. Keeping a beautiful, clean neighborhood will boost collective home value.
Bylaws and governing documents will ensure every member of the community contributes to the neighborhood's beauty.
The freshly painted buildings and clean lawns will also attract new tenants.
Homeowner Maintenance
With the HOA handling outdoor maintenance, homeowners will have more time to update and beautify the inside of their own homes. Homeowners will have an easier time increasing their property value.
Meanwhile, the HOA will handle landscaping, trash removal, and other tedious tasks.
Consider investing in HOA community association services. With help, you can ensure proper care and upkeep to create a more visually harmonious community.
Emergency Services
Managing the aftermath of a flood or fire that caused damage to your property can be stressful. Some HOAs offer emergency services to help community members.
The HOA's quick assistance can limit damage and prevent the situation from getting worse. Their services will help protect your home's property value.
Enforce Rules
The HOA's rules and regulations are enforced to keep the property value up.
Rules and restrictions (from what color you can paint your home to where vehicles are allowed to park) will affect the community's image. The HOA can even handle disputes between neighbors. These services will ensure the neighborhood looks stunning and spotless year-round.
With help from the HOA, you can avoid issues that might impact health and public safety. Instead, you can ensure the preservation of property values.
HOA and Home Value: The Smart Choice
Understanding the connection between an HOA and home value can help you make smarter choices for your community. Consider boosting your own property value. By starting an HOA, you can reap these benefits yourself!
You don't have to manage your community's HOA alone. Instead, consider working with an experienced HOA management company this year.
Contact Invest West Management to learn how we can help.
