When you read the latest real estate report on home prices, does it fill you with jitters, or are you as indifferent as you would feel reading a weather report?
Your answer could tell you a lot about how important your home valuation is to you.
But you don't have to be at the mercy of what's happening elsewhere. You can take matters into your own hands and implement practical steps to boost your HOA home value in Chicago. Read on to find out more.
Keep Your Property Well-Maintained
The small details matter. Buyers want a home in the best condition, meaning a well-maintained property.
These cosmetic updates might include work like repainting walls or repairing tiles.
It can help your home look more presentable. Or it could be repairing areas that look tired, like landscaping the garden or the front of the property for added curb appeal.
Well-maintained homes always hold their value as buyers know they can move straight in without the hassle of repairs.
Upgrade Communal Areas
If you live in an HOA neighborhood, it's important to remember that buyers will evaluate this community as much as the property.
You'll need to ensure both aspects make a fantastic first impression if you want an excellent house valuation.
Speak to your homeowners association management team about potential upgrades that could help increase the value of the entire community. That might be lifestyle additions like fitness centers or community pools.
Or it might be something smaller, like improving the appearance of communal areas like parks and lakes.
Think About Sustainable Living
An eco-friendly home is high on many buyers' agendas.
Making your property or community more sustainable can help protect or improve house prices. One popular option is to add solar panels to your roof.
Not only does this tick the eco-friendly box, but it will also save money on energy bills, making your home more appealing to buyers.
In the community, you could look at improving any recycling schemes. Or you could replace lighting with more energy-efficient LED types.
Make Your Community More Appealing
A community means more than a neighborhood of houses. It's a social model where homeowners can enjoy all the benefits of connecting with others.
Events are a great way to do that. If your HOA community lacks social occasions, add some event dates to the annual calendar. For example, you could celebrate key holidays throughout the year as a community.
Running face-to-face meetings is also a good idea. It helps ensure every resident has a say in making the community work for everyone.
A more cohesive and harmonious community will make it a more attractive place to live. That, in turn, will boost your home's value.
HOA Home Value: Taking a Proactive Approach
Market forces may have a part to play in your HOA home value. But that doesn't mean you must sit back and wait for things to happen.
There is much you can do to boost your property valuation, so try some of the tips in this article.
PMI Chicago Metroplex can provide an accurate home valuation for you. Plus, our property experts can give you tips on how to improve it. For more information on how we support HOAs in Chicago, visit our services page.
