Both first-time buyers and experienced buyers often ask, "why do so many communities have homeowners associations (HOAs), even communities of single-family homes that seem like they wouldn't need them?" There's a few reasons why homeowners associations are so popular. For one, buyers want HOAs for the amenities that come with them. They also help with affordable housing on smaller lots that don't have room for pools, basketball courts, and so on. Since buyers still wanted these types of amenities, they were put into a common area that everyone in the HOA has access to and can enjoy. Since many cities require or encourage communities to have these common amenities, but they don't want to be responsible to maintain them, they require communities to form HOAs in order for the burden of collecting dues to be placed on members of the HOA.
Lastly, stormwater runoff basins are being required in order to prevent flooding and other damages. This is also considered a common amenity that needs to be paid for by all members of the community. There are many benefits associated with being part of a homeowners association. The most obvious benefit is the amenities themselves! Many of these communities have pools, spas, basketball courts, parks, play areas and workout areas, among other things. These are private amenities that are limited to people who pay into the HOA! If you're living in a condo or townhome community, HOA fees might be a bit higher, but they cover the exterior of the building, the roofs, and the many other things that make these properties look nice. Beware that HOAs have restrictions and rules, which are liked and disliked depending on who you're asking. The rules are often in place to ensure home values in the area are maintained. In order to do this, there might be rules that stipulate that lots and homes are maintained. Whether or not HOA rules are desirable for you depend on your goals and on the particular rules of a given area, so it's definitely something to look into before making a purchase. If you have any questions about HOAs, or if you would like our assistance buying or selling a home in Silicon Valley, please don't hesitate to reach out to us. We would love to chat!
Sellers often ask me, “Is solar a good investment for my home?” To understand the different options for solar energy out there, it’s important to rank the options from worst to best. Based on my professional opinion and experience as a local agent, I’ve ranked some options for you today from worst to best.
Solar lease: Although this was the most popular when solar came out, it’s now become the least favorable. Particularly, if a prospective buyer isn’t interested in solar, they might ask you to pay that lease off. It can be expensive if you’ve leased it for fifteen to twenty years.
Financing solar with a principal and interest payment: If a buyer asks you to pay this off, you’re only paying off the principal balance without penalty.
The Power Purchase Agreement: This is currently the most popular out of all options. For the most part, a solar company -- your new electric company -- will install solar for free into your home. They’ll also maintain and monitor the system without money out of pocket. You sign a twenty-year deal with this company typically, but there’s no extra cost and this reduces your electric bills.
Buying solar outright: This is the best option if you have or borrow the money. You essentially eliminate your electric bill when you do this. This is attractive to buyers because that’s hundreds of dollars they save each month.
When you invest in solar, you add value to your home! If you have any questions about solar, please give me a call today.
A lot of people ask us what they can do to get ready for a home sale. They want to know things they can do to increase their final sale price without putting too much time or money back into their property. Here is what we tell them: 1. Use good photography, especially on the exterior of your home. This will require some updated landscaping, fresh paint on your siding or front door, and perhaps you could even paint your grass green. 2. Decluttering the home is huge when we move on to the interior of the home. A buyer wants to walk into a neat, well-organized home. It makes them think the home is in better condition, and it makes it appear as if you really took good care of the home. Put away unnecessary photos and artwork to neutralize the feel of your home. Show off your counter space.
3. Staging the home is also extremely important. We can bring in a third party stager if you list with us, and we find that our stager can make your home more appealing and it can start bidding wars that result in a top dollar sale. We highly recommend staging your home if you're not planning on living in it during the sale. If you'd like more tips on how you can prepare your home for sale, please don't hesitate to contact us. We would be happy to speak with you!
