If you're concerned about the value of your Austin home, you're not the only one. After all, Austin home prices saw some of the steepest drops out of any US metro area last year, and the outlook for this once white-hot market remains tepid.
However, there are things you can do to protect your property values, especially if you live in a HOA community.
The higher end of the market remains robust, and those in more desirable areas can work through their homeowners' associations to protect their assets. Here's what you need to know about boosting HOA home value.
1. Keep Your Community Shining
The most effective way to boost the value of an HOA property is to maintain your high standards and work to make sure that the resources are there to keep your community shining and sparkling.
This means using quality local contractors with high regularity for landscaping, repairs, repainting, and maintenance.
It means going the extra mile to think about how your HOA fees can be used to best make your surrounding area a desirable place to live. Focus on aesthetic beauty, cleanliness, order, and functionality, and you'll have a home that's always in demand.
2. Uphold Your HOA Rules
Sometimes, the only thing you have to do is play by the rules that are already there. Your HOA management board probably already has a lot of rules that, if properly enforced, will boost the home value of everyone in your community.
If the rules state that lawns must be kept in a certain condition or that cars should be kept off-street, make sure people are following them. Work with your HOA board to ensure that everyone is actually aware of the rules and how these rules will benefit their community and their net worth.
3. Boost Your Amenities
To boost the value of a HOA property, you need to make sure that your surrounding community offers something that gives it an edge over the competition.
Your HOA board is the perfect starting point if you wish to improve or expand the amenities in your area. Be strategic and focus on those that give the most value. This could include outdoor fitness areas for everyone to use or a shared pool.
Consider pet-friendly and child-friendly spaces, especially if your neighborhood is likely to be marketed to families. Picnic tables, concierge services, and shared green spaces can also significantly boost the value of your HOA property.
We Can Help You Boost Your HOA Home Value in Austin, TX
Boosting your HOA home value is not just something that improves your paper net worth. By maintaining a pleasant neighborhood with good amenities and a tight-knit community, everyone benefits in their everyday lives.
If you want to get the most out of your HOA fees, we can help you. At PMI Silicon Hills, we offer expert HOA management services in Austin.
We can maintain your community and provide the best possible value for money, all in a way that maintains the value of your asset. Get in touch to schedule a consultation.
