Yes, HOA rules and management have a direct impact on your home’s value! Learn why this is (and how to benefit from it) in our guide!
58% of people that own homes live in a place where there is a homeowner’s association. The first thing people think of when they think of the HOA rules are the fees that they have to pay monthly, but there’s something else you need to think about when it comes to the HOA.
Homeowners need to start thinking about how the HOA can help increase the property value of their home. If you’re reading this, we encourage you to read on and find out how the homeowners association will improve the value of your home.
Creates an Appealing Community
People want to live in an area where there is an HOA because it increases the reputation of the neighborhood. When people hear that HOA is present in an area, it’s guaranteed that the neighborhood will be kept, and there are luxury amenities offered to those that live there.
With all of these amenities, the value of your home will increase along with the other homes in the area. Another reason HOA communities are more appealing is that everyone knows everyone.
The people that live in the community become family and friends because of how tight-knit the community becomes. It gives homeowners a sense of increased safety because there’s always someone nearby that can keep an eye on your home for you.
Presence of Emergency Services
Everyone has a fear of something happening at their home and having to wait for long periods for the emergency service personnel to show up to provide treatment. An HOA can help to provide residents with quick emergency treatment should an emergency arise.
For some people, the presence of a resource that renders services quickly when people need it is a treat that they can’t pass on, which will make purchasing a home like yours more appealing to potential home buyers.
Improves the Homes Curb Appeal
The curb appeal of a home can increase the overall value of the property by 7%. For this reason, people looking to sell their homes take some time to improve the outside environment to increase the profit that they stand to make.
The great thing about having HOA is that they do most outside maintenance of the properties. Most HOA’s will take on the task of maintaining homeowners’ yards and keeping the streets clear of any and all trash that might collect if left unattended.
Depending on the area that you live in, some homeowners associations provide services that take care of the internal maintenance of homes as well. Any changes or upkeep that are made to the internal and external part of a property will always increase the value of the home.
There might have been times in the past where you lived in other neighborhoods and had issues with your neighbors or the cleanliness of the area. With the HOA in place, you don’t have to worry about drawn-out disputes with neighbors because the HOA can help resolve these issues in a way that works for all involved.
Also, because of the rules that are put in place, they reduce the likelihood of these issues occurring, to begin with. All of this again creates an environment that more people want to be a part of.
Only Hires the Best
Earlier, we mentioned that the HOA is sometimes responsible for people’s internal and external maintenance. The people that complete these maintenance orders are vendors that the HOA has contracted.
You might be wondering what do these vendors have to do with the value of your property? It can be hard to find reputable companies that do great work at a reasonable price.
With the HOA, you don’t have to worry about working with a company that isn’t going to do great work. You’ll come in contact with vendors that take pride in their work.
When potential buyers tour your home, they will be impressed with the upgrades made to the home and the quality of the work done. This will help increase the value of your home and potentially increase the amount you’re selling your home for.
Research Was Done Before You Moved In
The last way that the HOA helps your property value is by doing much-needed market research starting before you moved in. People in the HOA have been doing research on the projected market value of the homes in the area and have been taking the necessary steps to increase the homes’ value further.
They protect and increase the value of the homes in the area by doing everything above that we’ve mentioned. Every part of the HOAs plan to improve the property values of the homes has been planned for years and years.
The HOA wants to ensure that people will continue to buy homes in the area and live there. Therefore by helping you, it helps the community.
HOA Rules: Undercover Helper of Homeowners Everywhere
HOA rules can sometimes be quite overwhelming for homeowners to adhere to. But the thing you must keep in mind is that they are in place to improve the value of your home.
The HOA takes care of things like outdoor maintenance as well as fostering a tight-knit community for those that live there. If you need help when it comes to property or HOA management, the only logical thing to do is to contact Verraterra.
We have the experience you need when it comes to all things that have to do with the homeowners association.