5 Capital Improvement Projects For HOAs To Boost Area Value

Maintaining a successful homeowners association can be tricky. It’s essential to have board members and property owners on the same page. It is crucial that all stakeholders understand their responsibilities in upholding the communities value.

While homeowners will need to invest in curb appeal and exterior property maintenance such as roof repair, repainting exterior walls, property landscaping, and others, homeowners associations are responsible for maintaining everything outside of the properties. This includes all common areas like parks, roads, pools, and sidewalks.

With this, here are five capital projects that can boost community value.

Parking Lot Repair

Maintaining residential parking lots is a crucial task. If these facilities become neglected, area value will decline instantly. But because parking lots can deteriorate suddenly due to wear and tear as well as bad weather, it’s wise to have the areas inspected routinely to invest in repairs as soon as possible.

Whether you’ll need to repave the parking bays, repaint pillars, or mend overhead covering, it’s also vital to find credible services to manage repairs.

Street Lighting

Commercial post lighting is a decorative and functional feature that can add enormous value. Lighting is also a safety feature that can deter criminals from the area, which will further boost community value. Nevertheless, choose modern, energy-efficient lighting fixtures to adorn the community’s streets. Once the proper lighting is installed, routine repairs must be prioritized.

Landscaping Upgrades

Landscaping upgrades are one of the most affordable and effective ways to give the community a value-boosting makeover quickly. Beyond adding beauty to the area, landscaping upgrades can substantially decrease heating and cooling costs for residents, as nature provides the best insulation.

Even so, it is essential to contact professional landscaping services for landscaping solutions that can impact both value and comfort for residents. Commercial landscaping vastly differs from residential landscaping, so professional landscaping services are essential.

Road And Sidewalk Repair

Hardly anything can degrade area value quite as much as potholes and shabby cracked sidewalks. All you will need to complete the dilapidated look is a few flickering street lights, and the neighborhood will see community value plummet.

Invest in road and sidewalk repairs on an ongoing basis. Instead of only reaching out to these services when you receive alerts for potholes and sidewalk flaws, investing in maintenance as well will prevent these cosmetic defects from impacting community value.

Renovate Facilities

Whether the community is home to a clubhouse, tennis courts, or any other public facility, regular renovations must be prioritized. These kinds of facilities add so much value to a community, which is why maintaining these areas is vital.

Repainting, replacing siding, mending wall cracks, or simply investing in pressure washing services is often enough to bring new life to an existing community facility.

While homeowners associations must uphold various standards to ensure a safe and secure community, investing in value-adding upgrades is also essential. At the same time, homeowners must keep up with exterior property maintenance to uphold community value.