Did you know that the median home price across Texas in August 2023 was $351,500? This is a slight increase from the year before, despite being cheaper the the national median home price.
Keeping home values high is much easier with the help of a homeowners association. An HOA exists to increase property values within the community.
Keep reading to learn how HOA home value and continuous property maintenance go hand in hand.
Formulate a Beautiful Neighborhood
Increasing HOA home value through regular maintenance involves creating a beautiful neighborhood. Even if the home is beautiful, the surrounding neighborhood should be kept to prevent decreased property values.
One of the main goals of a homeowners association is to beautify a community.
There are HOA rules that make communities a better place to live. These rules typically involve short and long-term maintenance, such as:
- Clean yards
- Freshly painted buildings
- Neighborhood uniformity
All of these rules and maintenance requirements lead to higher property values. Restrictions exist in an HOA community to maintain a certain image.
Maintain Homes Inside and Out
The bulk of the outdoor maintenance schedule is taken care of by the HOA itself. This means homeowners can dedicate more time to updating the inside of their homes.
An HOA will typically handle landscaping, trash removal, and even pressure washing. They will utilize HOA fees to contract outside vendors to handle these jobs.
Whether there are improvements outside or inside the property lines, property values increase. Luckily, HOAs take care of the most tedious tasks for you.
Building a Community
While maintenance is taken care of by outside vendors, homeowners have more time to spend in common areas to connect with their neighbors.
One of the best features of an HOA is that it aids in building a community that other neighborhoods will grow to envy. In this community, everyone pitches in to enjoy amenities and maintenance solutions.
An HOA board will speak on behalf of the community and resolve any neighborly disputes so that everyone can continue living in harmony. An association management company can also help with community governance.
The idea behind a homeowners association is to build a clean, safe, and tight-knit community that draws in new buyers and improves property values.
In fact, these communities tend to offer emergency services to keep the area safe. If you are unfortunate enough to deal with fire or flood damage, an HOA will provide emergency services.
This quick assistance can limit damages and help you so that you don't have to deal with emergencies on your own. In doing so, you avoid your property value plummeting from a single occasion.
HOA Home Value and Regular Maintenance
The connection between HOA home value and regular maintenance is important to consider if you live in a community. If your board is not doing enough to maintain the community, property values will plummet.
Luckily, PMI Phantom Realty exists to help HOAs thrive. Our HOA managers will work closely with your community board to ensure property values stay high.
Let's get started. Contact us now to discuss details about our services.
