Are Communities with Home Owners Associations a Good Investment?

In a word, Yes. But let me expand upon that.

Home Owners Associations are designed to create a uniform set of standards for residents to abide by and, in exchange, residents will typically enjoy a consistent quality of life through that uniform environment. Residents will pay a monthly, quarterly or annual fee and this fee is used to cover the cost of maintenance of common areas, garbage collection, security and other "common area" expenses, such as water, electricity and in many cases a property manager, like PINDER'S Property Management. It should also include a "savings" component so that the community can hedge against future large capital expenditures, such as road repaving, common area facility renovations, etc. If the Home Owners Associations are managed correctly, the value of your community will be protected and your real estate investment will generally have a higher value than similar properties outside the gates. There are exceptions however, as I will now explain.

If a Home Owners Association or HOA is not managed properly there are some serious implications that an investor can experience. First, if the rules for the aesthetic upkeep of real estate in the community are not adhered to or enforced, then the values of the surrounding properties can be negatively impacted. Who would want to buy a home next to a house that is in need of a complete overhaul!? Second, if a significant number of members of the HOA don't pay their fees or are in severe arrears, the financial health of the community can be put at risk. This can cause the basic needs of the community to be neglected, such as maintenance of common areas and community facilities, but can also turn off prospective investors to purchasing a home in a financially dysfunctional community.

It is important that you choose a Bahamas real estate agent that will point out these important aspects of home ownership to you! Knowing that your Home Owners Association is being properly managed and is in good financial health will ensure that the value of your Bahamas investment will continue to grow!

HOME STAGING TIPS - TOP 10 Tips to Sell Your Home!

Preparing your house to be sold can be a daunting and overwhelming task whether you have lived in your home a couple or many years. The longer you have lived in your home the more things you would have acquired. The intent of this Top 10 Tips for Successful Home Staging is to help you save TIME, MONEY and ENERGY.

Take a step back when preparing for your house to be sold and have the mind set that this is no longer your home but your investment for your future. You want your house to have a broad buyer appeal to your target market. Following these 10 Tips for Successful Home Staging will help you sell your house sooner and possibly for more money than if you did not prepare it for selling at all! Remember most people want to move into their new home without having to make updates to it.

1) Curb Appeal
Stand back and view your home as if you were seeing it for the first time. This is the ‘first impression’ stage. Depending on the season you may want to have pots of colourful and attractive flowers to greet buyers; a clean and inviting door mat; new and shiny door handles and/or knockers; a freshly painted door, etc...

2) Declutter
Start your pre-pack as soon as possible. You need to decide what you are going to keep, give away, sell or throw away/recycle. Many clients will rent storage lockers or have pods delivered so they can start to clear out what is not going to make the house look good.

3) Clean
You would think this one is common sense but let me assure you, I wish it was so! A clean home translates into "They must have really cared for their home." Kitchens and bathrooms must be sparkling clean at the very least.

4) Depersonalize
We know you love your family photos and your personal treasures and for living they are perfect. For selling pack them up carefully so you can showcase them in your new home. For selling you want buyers to focus on the best features of your home and not your personal things or collections.

5) A neutral colour scheme is the way to go for selling.
Choose only 3 colours or less to paint your house for selling. If you have an open floor plan then paint the main floor all the same colour. Bedrooms look good in light sage greens or warm blues.

6) Highlight your home’s best architectural features
Place your furniture in each room so that you have very obvious focal points that show off the home’s best selling features. For example, if you have a beautiful fireplace then place the furniture in a parallel grouping so that the eye is drawn to the fireplace.

7) Decide on the function in each room
If you were using your guest bedroom as your den for living, for selling turn it back into a bedroom with bedroom furniture in it. If you do not have the right furniture for each room consider renting it. If you don’t want to rent then borrow.

8) Lighting your home to its best advantage
Spend money on new light fixtures in brushed nickel or stainless steel. Brass is out so don’t fight it. There are many low-cost lighting stores to select from so no excuses for having dated light fixtures.

9) Window treatments that sell your home
The most popular on the market are the 2” faux woods in a white tone to go with your trim. Decorative side panels will do the trick if you need to add warmth and colour.

10) Flooring needs special attention and is a good investment for updating the look of your home
Tile or linoleum is great for entranceways, bathrooms, kitchens, laundry rooms; a good quality laminate or hardwood is perfect for living rooms and family rooms; bedrooms are attractive in a neutral carpet.

By planning and budgeting you can get yourself to the “OPEN HOUSE READY” stage.

Remember that over 79% of prospective buyers have already checked out your home through the internet and the Bahamas MLS listings. Will they like what they see?