If you’re on the board of a homeowners’ association, one of your top priorities is likely increasing and protecting home values in your community. While HOAs require dues and enforcement of rules, the benefits they provide can go beyond “policing” and significantly boost property values.
From maintaining aesthetic appeal to providing emergency services, HOAs play a vital role in creating desirable neighborhoods that retain value over time. Let’s take a look at how an HOA and a reliable association management team like Proper HOA Management can help your owners increase property value.
Creating a Beautiful, Desirable Community
One of the primary ways an HOA increases property values is by preserving a community’s appearance and aesthetic appeal.
Strict architectural guidelines ensure properties maintain a cohesive look. Well-maintained common areas like parks, pools, and landscaping create an attractive environment that draws new homebuyers.
According to the National Association of Realtors, homes in HOA communities are worth 5-6% more than comparable non-HOA homes. Much of this premium comes from buyers paying for the curb appeal and amenities an HOA provides.
Uniform Property Maintenance Boosts Values
In addition to common areas, HOAs require homeowners to properly maintain their individual properties to community standards. Neighborhood streets free of eyesores like chipped paint, debris, or unruly lawns have significantly more buyer appeal than areas without such standards.
Thus, it makes sense that when you sell your property in an HOA, you’re likely to be able to sell at competitive rates because your home comes with that association “guarantee” that all has been well maintained on your home’s exterior and the community itself.
Rules and Regulations Protect Home Values
Strict community bylaws and regulations may seem excessive to some, but they help protect property values for all homeowners.
Rules around noise, pets, parking, home businesses, and other potential nuisances ensure a peaceful living environment. A neighborhood with HOA rules is often much more desirable than one with frequent disruptions. Additionally, many buyers value the security and oversight HOAs provide to properties when owners are away.
Emergency Maintenance Services
Most HOAs have reserve funds and relationships with contractors to handle emergency maintenance situations. If a major storm damages community fencing, roads, or amenities, an HOA can respond quickly to make repairs and restore the neighborhood to its pre-incident condition.
This consistency and home protection ensures the community’s property values aren’t affected by unforeseen events individual homeowners may struggle to address alone.
HOAs help ensure that in addition to each owner’s responsibility to maintain their own home, external factors like weather and other residents’ properties don’t negatively impact the overall community’s property values.
Rules Enforcement Prevents Property Devaluation
In addition to making reactive repairs, HOAs proactively enforce rules to prevent any individual property from negatively impacting surrounding home values.
An abandoned home, property overrun with debris, or other severe violations can lower the overall appeal of the neighborhood and sales prices. According to The Appraisal Institute, homes adjacent to disorderly properties lose an average of 10% in value.
With the power to levy fines and legal action, HOAs can resolve devaluing concerns before significant damage is done.
How Professional HOA Management Helps
For HOA boards, properly maintaining a desirable community takes consistent dedication and organization. Many communities partner with professional HOA management companies like Proper HOA Management to streamline operations, funding, and enforcement.
Proper HOA provides full-service management solutions to ease the burden on volunteer boards. Our team of management experts handles day-to-day operations, contractor oversight, maintenance scheduling, rules enforcement, finances, and more.
With our scale and resources, we can help you negotiate your way to a higher sales price when it’s time to sell your home under an HOA.
Increase Your Property Value the Proper Way Today
It’s clear to see, the benefits HOAs provide in creating beautiful, well-maintained communities directly increase property values in numerous ways.
By establishing and enforcing high standards for individual homes and community areas, HOAs cultivate desirable neighborhoods that attract buyers and maintain resale value for all owners over time.
For HOA boards looking to maximize their community’s potential, partnering with an experienced property management company like Proper HOA Management is the key to fully realizing an HOA’s value-boosting advantages. What steps will your HOA take to increase home values this year?
Contact us today to learn more about our services.
