In the USA around 25% of neighborhoods are governed by a HOA. The reason for that is quite simple: HOAs are great for maintaining or boosting local property value. HOAs add a lot of value to the community.
To make homes more valuable, you need to have a safe neighborhood, immaculate property maintenance, and quality local amenities. HOAs are about more than just real estate prices. They're about making a livable, vibrant community.
Not convinced that paying HOA fees is worth it? This article describes exactly how the HOA home value boost works.
Property Maintenance Standards
Most of the best-looking neighborhoods belong to a HOA. HOAs enforce various appearance standards to ensure the area is uniform and attractive. Of course, the HOA is about more than just telling people what to do.
They may also take care of maintenance issues like community landscaping. If you're lucky enough to have luxury amenities like swimming pools or tennis courts, they'll take care of their upkeep too. When everything looks uniform and well-maintained, it boosts curb appeal - raising the house prices.
Exclusive Facilities
While it's true living in a HOA neighborhood involves paying fees, these fees could actually save you money. In some HOAs, you won't need to pay for gym memberships or event spaces. You'll have everything you need in your local area.
Being an HOA member will often give you access to facilities like swimming pools, clubhouses, and tennis courts. Such conveniences make your community a great place to live. They also boost the local housing market.
A Safe and Secure Community
While luxury amenities and uniform lawns are fantastic features, they don't mean much if the neighborhood doesn't feel safe. Thankfully, providing security is another area where HOAs excel.
Many HOA neighborhoods are gated - meaning only residents (and their friends and family) can enter. HOAs may also hire dedicated security personnel who patrol the neighborhood.
These features make the area much less attractive for criminals, and as a result, you'll see much less property crime in HOA neighborhoods. Crime rate has a significant impact on real estate prices, so a safe neighborhood is a valuable one.
Rules and Restrictions
People want to live in neighborhoods where everyone gets along, or at the very least where neighbors don't cause problems. HOAs therefore keep house prices high by restricting problematic activities.
Every HOA is different, but it's common to see regulations against excessive noise, improper parking, or running a residential business. These standards are key in creating a peaceful environment, which is almost always a key factor when buying property.
Get a HOA Home Value Boost
If you want to maintain high property values while making your community a present and vibrant place to live, you need an HOA home value. Yes, you'll pay fees, but you get an incredible amount of value for your money.
Of course, not all HOAs are equal. The biggest real estate boosts come from the most competent HOAs. To help your HOA seriously boost investment property value, consider working with an HOA management company.
Here at PMI El Paso, we have decades of experience helping local communities thrive. Contact us today and let's discuss how we can elevate house prices in your area.
