A buyer arrives in Naples, Florida, to browse the local HOA property market.
Their initial reaction? They're overwhelmed with choices. That's because Florida has the highest rate of HOAs in America - one in four properties, to be exact.
So, if you want to make your HOA stand out from the plentiful options on the market, what do you need to do? We'll answer that question here.
Discover the three tried-and-tested ways of improving your HOA home value in Naples, Florida.
1. Invest In Landscaping
Making your HOA homes look beautiful from the outside will appeal to buyers and increase property values. So, focus on landscaping your properties.
If you have an HOA community in Naples, Florida, you should add local plants that will thrive in the environment and look harmonious. For example, try the Coontie Plam or the Florida Slash Pine.
Add plants to the front of HOA properties for curb appeal and in the backyards, as well as communal areas.
You'll also want to ensure you maintain those plants. If you have limited time for managing outdoor spaces, stick to low-maintenance landscaping designs like patios, pathways, and potted plants.
You could also try a water feature for some added luxury, like a fountain. Only add a lawn if you have time to treat the grass and keep it trim.
2. Modernize the Amenities and HOA Services
Spend money upgrading the communal amenities to make your HOA environment better value for money.
If you have a community fitness center, you could update it with state-of-the-art fitness machines. If that's too expensive, adding a fresh coat of paint and new flooring can make a tired communal space look more bright and inviting.
You could also consider upgrading the tech in your HOA community, especially security technology like cameras. You could also invest in upgrading the internet connection if it's slower than other neighborhoods.
More people have electric cars nowadays, so consider adding charging points to appeal to buyers. Other eco-friendly features that appeal to buyers include solar panels and energy-efficient LED lighting.
3. Introduce Community Initiatives
A community's range of events, services, and initiatives can make it a more appealing place to live.
For example, you can offer a safe environment. More than anything else, residents want to feel safe in their communities. A safe neighborhood will appeal to many buyers, from retirees to families with young children.
So, you can try a few initiatives, such as a neighborhood watch program and extra street lighting.
Social events are also an attractive feature for communities. Local farmers' markets or kids' movie nights are a few ideas you can try.
Communities also want a clean and tidy environment. You could invest in additional litter cleaning or get a neighborhood team to do a regular litter pick. Extra security cameras will also act as a deterrent against littering.
Finally, improve your HOA communications by introducing a regular resident newsletter.
HOA Home Value: Focusing on the Small Details
With so much choice available to HOA buyers, it's crucial you take a proactive approach to your HOA properties. Small details matter; a few tweaks can help you stand out and improve your HOA home value.
Our homeowner association services at PMI Gulf Coast can help you maximize your property values and sell homes quickly. Find out more here.