It’s no secret that homes in communities managed by successful homeowners associations are more attractive to buyers, specifically when the exterior of properties is visibly well maintained.
Consequently, homeowners associations can boost overall neighborhood and property values by supporting various standards and processes that coordinate with exterior property maintenance and landscaping. With this, homeowners can re-invest in their assets through HOA funding.
Here’s how HOAs can use the funding to increase overall neighborhood and property values significantly.
Enhance Building Exteriors
HOAs should invest in pressure washing the exterior of buildings regularly, repainting walls, and repairing damages caused by wear and tear.
To keep up with damages caused by wear and tear, have caretakers or building managers that identify and report damages quickly.
Landscaping In Common Areas
Landscaping boosts property value substantially, so it makes sense why homeowners associations need to invest in landscaping in common areas.
Landscaping is also exceptionally affordable, whether relying on professional landscaping maintenance services or employing contractors.
Clubhouses, recreational centers, walking trails, cul-de-sacs, parks, playgrounds, community swimming pools, and tennis courts are all types of common areas that can be enhanced with landscaping. Common areas can also be enhanced with extra details like park benches, water features, public sculptures, and even memorials. These details will all add value to the neighborhood.
The Right Lighting
Warm lighting is an excellent choice for street lamps that decorate the neighborhood at night. Not only will warm lighting increase the ambiance and offer a calming atmosphere, but lighting also acts as an essential safety feature for any community.
It’s also essential to choose a street lamp design that complements the general architecture of the homes and buildings in the area. Beyond street lights, homeowners associations should also make an effort to light up other dark spaces like walkways, stairwells, parking lots, and sidewalks.
It’s a great idea to choose lighting solutions that are energy efficient to keep the communities common electricity usage as low as possible.
Repair Sidewalks And Trails Regularly
Cracks in sidewalk concrete can be quite an eye-sore. Instead of leaving crumbling and cracking walkway trails to impact the appeal of the neighborhood negatively, make routine sidewalk and trail maintenance a priority.
Simple measures like patching concrete and repaving can boost curb appeal and enhance neighborhood safety at the same time.
Add More Amenities For Residents
Nothing makes a neighborhood seem more appealing than another than unique but useful amenities. Back in the day, amenities like tennis courts and clubhouses had the ability to make neighborhood and property values skyrocket.
But these days, amenities like electric car charging, free Wi-Fi, inclement weather services, outdoor spaces to rent, pet-friendly buildings, outdoor fitness centers, art studios, music studios, dog parks, and accessible business offices are high-in-demand amenities worth considering.
There are tons of ways to boost overall neighborhood values. So it’s vital to re-evaluate the HOA funding budget annually to make sure funds are allocated towards increasing neighborhood value and promoting area safety.
