Realtor® Magazine reports that landscaping improves a home’s overall value by as much as 12%. For Homeowners Association (HOA) communities, which on average already have homes valued at 5% to 6% higher than those in non-HOA communities, the increase can be even higher, depending on the landscaping techniques used.
An HOA’s core objective is to maintain and increase long-term property value, so it’s critical to determine how landscape services are a part of that. Here’s when you should invest in landscape design and maintenance for your HOA and how it can improve your short- and long-term return on investment (ROI).
Now is the Time to Invest in Landscape Service
The value of investing in your HOA property while occupancy is high, before the next economic downturn, is a smart return on available resources. When occupancy is lower during a recession, your HOA community doesn’t have as many tenants paying HOA dues.
Fewer paying Homeowners cut into your budget for landscaping services and other community property improvements. This can begin a vicious cycle; your property becomes less appealing to potential buyers, which perpetuates the problem of lower occupancy rates. Invest in upgrades to your community now, when occupancy is high, and you have more budget to work with.
Landscaping Offers Both Immediate and Long-Term ROI
Landscaping is unique in that it offers both types of ROI — immediate and long-term. Property improvements that impact the way the community look, such as curb appeal and maintenance, often result in new home buyers coming to the area.
New membership gives an immediate boost to your budget, which you can then use to invest in additional upgrades to the property. Over time, ongoing improvement of the property continues to attract new buyers, returning value long after the initial investment has been made.
Not All Landscaping is Created Equally
There’s landscape maintenance, and then there’s landscaping. Basic maintenance for HOA properties can be a good choice for companies looking to control costs; however, it’s important to develop a long-term strategy for your HOA’s landscaping.
Increasing curb appeal and desirability, as well as reducing the time that open properties are on the market allows you to invest in raising overall value beyond controlling costs. While basic landscaping services can help you maintain your HOA, planning landscaping designed to manage irrigation and maximize available natural resources helps increase property values and facilitate growth with low turnover.
Additionally, investing in money-saving programs like water conservation and waterwise planting helps offset the costs of landscaping, ensuring the continued development and occupancy of your HOA, while keeping cost inflation under control.
Other Ways to Boost Value in Your HOA ROI
There are a number of ways to boost the return on investment in your HOA community areas. You can:
- Renovate amenities: Is your pool in need of a fresh coat of paint? Does your workout room lack enough exercise equipment for multiple residents to use? Your HOA’s amenities are an important part of the draw to your community, so it’s important to make sure they’re in good repair.
- Redesign common-area landscaping: The landscaping around common areas like the pool, dog park and walkways are the most visible across your property. Redesign these areas to make the most impact.
- Pressure-wash and paint exteriors: Keep the exterior of community buildings clean by pressure-washing them regularly and repainting as needed. Encourage Homeowners to keep their exteriors maintained as well.
- Replace unsightly bushes or trees: Don’t be afraid to uproot bushes or trees that are an eyesore. An experienced landscaping professional can help you design an attractive and efficient replacement.
- Add lighting to the property’s most important features: Lighting is one of the biggest draws of an HOA community; it makes residents feel safer and highlights attractive landscaping. Add lighting to pathways, fountains, tennis courts, pools, and other valuable features.
- Improve parking areas: Homeowners want safe, convenient parking. Make sure your parking areas are spacious, striped, and in easily accessible locations.
- Add a dog park or pet relief area: If your HOA doesn’t already have a dog park or dedicated area to pet relief, consider adding one. Include doggie bag dispensers and trash cans at entrances and exits for convenience and cleanliness.
- Add outdoor play areas for children: Families want to have a place to take young children to run and play without having to go far from home. Add a playground in a central location if you don’t already have one.
- Implement online payment and maintenance requests: Make it convenient for residents to pay monthly dues or request maintenance of community facilities online. Online payment portals can drastically reduce missed or late dues!
- Consider nontraditional amenities: Keep up with the times and give your HOA an edge over competitors in the area by offering electric car chargers, community gardens, a telecommuting center and other uncommon but highly desirable amenities.
Landscaping is a great start to improving the overall ROI of your Homeowners Association. Realtor® Magazine suggests that the most impactful elements of landscaping include the sophistication of the design, as well as the diversity and size of plants used.
When you hire a landscaping company with a proven track record, it ensures that you get the most value for your investment while balancing the best features for your neighborhood.
Why Choose Serpico Landscaping?
At Serpico Landscaping, we’re different from the ground up. We work closely with HOA Boards of Directors to understand their vision and bring it to fruition. It’s important that your landscape design tell your property’s story, and our expert landscaping professionals can help make sure your landscaping sends the right message. We then develop a strategic approach to create a design that maximizes visual impact and efficiency, while keeping maintenance costs in line.
We strive to deliver quality, excellence and precision in every service we provide. You’ll receive proactive information and data that you can address board members and management teams with, so you’re always prepared. We’re market leaders in waterscaping, a landscaping technique that marries water conservation with creating lush, healthy landscaping.
Are you ready for a holistic plan to achieve your community’s landscaping goals while yielding cost‑savings and a long‑term ROI?
Serpico experts came in and evaluated our entire property, identified what we needed to do immediately and for years to come. They helped us set up a budget that allocated monies for both short- and long-term projects. This road map helped us see results within six months of them coming on board and has saved us thousands of dollars in the landscaping renovation of our community.