6 Swanky Condo or HOA Amenities Buyers Swoon for but Rarely (or Never) Use

 
 

For people looking to buy a condo or a house that’s part of a homeowners association, the promise of swanky amenities they provide can seem like a total score.

Seriously, who wouldn’t want select access to a pool, spa, or private playroom for the kids? At least that’s the logic that tends to lure people when such “bonus” luxuries are offered.

But the irony is that, while these extras give the impression you’ll be living the good life if you move in, it’s useful to remember that you’re actually paying for them with your HOA dues. And the sad truth is that certain amenities end up sitting empty most of the time. Why squander money on that?

Real estate is expensive enough these days without wasting money on perks you won’t plunder, so make sure to take a step back when salivating over these common HOA conveniences. As nice as they might seem initially, experts say you might end up rarely (or never) using them.

1. Clubhouses

While the idea of a central gathering space might seem alluring, unless you’re planning a birthday party or family reunion, clubhouses are more often than not a wasted amenity.

“Clubhouses are notorious for not being used—most of the time they sit empty,” says Isaiah Henry, the CEO of Seabreeze, a company that manages over 90,000 commercial and residential properties. “There are some communities who host gatherings on a monthly or quarterly basis in their clubhouse, but they’re few and far between.”

Henry says that, in his experience, instead of a clubhouse residents prefer a community swimming pool or even a dog park.

2. Tennis courts

Do you even know how to play tennis? For a lot of people, the answer is no and as a result, this is an amenity that is rarely if ever frequented.

Professional tennis player and property manager Mario Musa says many people get excited when they find out about tennis courts being included in the condo he manages. Some even see it as an opportunity to try tennis for the first time. But in reality, he reports that only about 10% of residents ever use them.

“Even though there is access to all the essential equipment, people don’t frequent the courts,” says Musa, who admits that might be because tennis is not a beginner-friendly sport. “It sounds exciting at first, but I can tell from the footprints left on the clay courts that after a few minutes of trying to hit balls, most people end up taking photos for social media instead of playing a real game.”

Unless you’re a serious tennis player, chances are this won’t score as an amenity love match for you.

3. Screening rooms

Access to a private movie theater may seem Hollywood glamorous, but it’s rarely worth the price of admission (or your HOA fees).

“The idea may fascinate individuals when they are making a buying decision, but once you start living in the condo, trust me, I can tell you from personal experience this amenity has little or no use for residents,” says Kamyar K.S., CEO of World Consulting Group. “Sure, they are good for streaming the Super Bowl or watching the Academy Awards once a year, but because residents rarely hold screenings, most of the time the room is dark and gloomy and looks more like a haunted house.”

And really, Netflix and chill works better when you’re on your own couch, right?

4. Roof decks

While most people find roof decks to be a very visually appealing amenity, they don’t spend as much time up there as they imagine they will.

Though the COVID-19 pandemic might have changed this trend a bit because people were desperate for outdoor space wherever they could find it, in general, property managers report that almost always roof lounges are underused.

“In my last condo that I lived in, I found that the roof deck was rarely used,” says Mathias Ahlgren, CEO and founder of Website Rating. “In fact, after working long hours at the office, I, myself, would often prefer to go out to spend time with friends rather than go home to the roof deck.”

The good news with this one is that if you are a roof deck kind of person, you probably won’t be fighting your neighbors for a chaise lounge.

5. Recreation centers

n addition to on-site gyms (which are actually one of the most used amenities), some HOAs include admittance to nearby recreation centers as part of the package. And unless they’re convenient or you have kids to entertain, it’s likely an added luxury that will languish.

“As part of my HOA for my condo, I am required to pay a fee for admittance to four recreation centers that actually offer some pretty great amenities like a rock-climbing wall and an outdoor pool, but I find that since I work full time, I just don’t use them at all,” says Colorado high school teacher and condo owner Doreen Smith. “If my own kids were still at home, maybe I would use them more, but at this point, I actually pay for a separate gym precisely because I don’t want to be around a bunch of screaming children now.”

In other words, being honest about where you are in your life will help you determine your amenity priorities.

6. All of them—if they have limited hours

If you’re thinking of moving into an HOA community where you’ll be paying fees to use the amenities, make sure to check when they’re open.

“Being a condo owner in a building that offers a multitude of amenities such as a pool, gym, and theater, it gets very frustrating that, due to the amenity hours of operation, I can’t use the amenities as much as I’d like because I’m working,” says Krisztian Riez, a digital consultant for the property management software company Condo Control Central.

“Because I am unable to use the amenities during the week, I try to take full advantage of the amenities on the weekend. However, using amenities I pay for only two days a week doesn’t really suffice for the extra monthly cost.”

For more info like this, go to Realtor.com

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Landlords Can Now Screen Your Pet’s ‘Credit Score’

 
 

Did you know that pets are “one of the largest sources of ancillary revenue in the rental-housing industry” and yet “some operators are leaving potential revenue on the table” by charging their future tenants a flat-fee pet deposit?

PetScreening, a North Carolina startup that invented a credit score for pets (a “FIDO” score), wants you to know this. Its risk-assessment algorithm evaluates pets based on data entered by their owners — “name, breed, weight, sex, age, pictures, vaccination information, micro-chip data, and behavioral information” — which it claims is more accurate than unsophisticated landlord assessments. Those judgments often include stereotypes about sizes and breeds. This is unfair to both pitbulls and, possibly, the bichon frise.

Pretending to be an operator who is leaving potential revenue on the table, I entered myself into the site’s revenue “fetcher” worksheet as a 20-unit building owner who charges a $200 flat pet fee. My personalized estimate showed I was only making $1,590 in pet revenue when I could be making a potential $6,201 with PetScreening’s services. The automated company email signed off with “woof regards.”

A FIDO score can range from one paw (very bad) to five paws (very good). Landlords can then set a sliding scale; the more “risky” the pet is (inclined to bark or walk with a patter-patter-patter rhythm detectable to downstairs neighbors, among other sins), the more a building owner can justify charging their tenant pet rent and fees. (The incentive for prospective tenants to be honest about their pet, we assume, is that they will likely get caught trying to minimize Frank Jr.’s tendency toward loud whimpering.)

For the honor of entering their pet into a database that will probably prompt their landlords to charge them more money, owners pay PetScreening a $20 fee for their first pet profile and $15 for each additional pet. (Landlords pay nothing to utilize the service.)

Among PetScreening’s current users, one property management’s pet policy states that “Paw Scores of 2 or less will require an additional security deposit of $500 per approved pet.” (Fish tanks under ten gallons were assigned a Five Paw Score; over ten gallons, Four Paws.) Another charges a $150 pet deposit plus an option of paying a one-time $200 fee or a $20 monthly fee for the duration of the tenancy — but only if you’re a Five Paw pet. A One Paw pet has to pay a whopping $500 pet deposit plus a $400 one-time or $40 monthly fee. (New York’s 2019 rent reforms prohibit landlords from charging more than a month’s rent for a security deposit whether or not a tenant has a pet, but many landlords still charge fees.)

PetScreening believes that its scores could encourage more building owners to allow pets, as opposed to enacting blanket bans — at a cost for tenants, of course. But isn’t behavior in the eye of the beholder? Doesn’t love cloud all judgment? What is it to be a “good boy”? PetScreening has nothing to say about these things.

Read more like this on Curbed.

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How To Prepare Your Basement To Become a Downstairs Apartment

 
 

Basements can be an asset or a liability. On the one hand, it can be a convenient place to store items like exercise equipment and old home furnishings.

On the other hand, it can lead to an accumulation of unnecessary clutter. These days, however, many people have started uniquely using their basements; they are turning them into apartments. There are many excellent reasons to turn your basement into an apartment. Here’s how to get started.

Remodeling Your Basement
When you are remodeling your basement into a comfortable living area, you may need to hire a mold removal company since mold is a major concern in basement environments. Mold is a living organism that feeds on organic matter present in the environment. It releases spores that can cause allergies or other problems depending on the type of mold present in the environment. Mold can lead to serious health problems such as asthma and other allergies. In addition to mold, you may find pest problems in your basement, including mice, termites, spiders and more. If you think you may also have pest problems in your basement, hire a pesticide company. There are many serious health problems that mold and pests can cause, such as asthma, allergies, headaches and other respiratory problems.

Mold and pests can also cause damage to your basement. Sometimes, mold grows because there is water damage to a portion of your basement. If you find water damage alongside the mold, you’ll need to have your basement inspected for damage, such as rotting wood or insulation. A water damage restoration service can help you fix these problems so that you can continue converting your basement into an apartment. Pests can cause structural damage to your basement as well. Rodents and termites can eat into the walls and through to the insulation. You’ll also want to have the pesticide company look for these kinds of damages.

Once the basement is sanitized and checked for structural integrity, you'll probably need to hire a few tradespeople, such as painters, carpenters, plumbers and electricians to make it a cozy living space. They will be able to turn the apartment into a nice apartment that you can rent out. Besides adding a bedroom, you could also add a washer and dryer and a bathroom.

Finding Tenants
Before advertising for tenants, you’ll have to learn how to be a landlord. For instance, you'll have to educate yourself on how to comply with the Equal Opportunity Act and with state rent laws. You'll also have to learn how to follow state security deposit rules and draft a legal written lease or rental agreement. Once you advertise your available rental space, you’ll find plenty of people who prefer not to live in an apartment complex or rent a home but just need an affordable place to live.

Many people turn their basements into apartments so they can earn passive income. Perhaps you want to earn more money without having to take on an additional job to cover all your expenses. Or perhaps you have a growing family. An additional source of income will make an enormous difference to the quality of your life. You can also use the profits to fund your future. Save the money from your basement apartment for your children’s college funds, your retirement account, or to pay off your mortgage.

Read more.

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Are There More Homes Coming to the Market?

 
 

According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today.

If you’re looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search.

Early Signs Inventory May Be Growing

The latest data from realtor.com shows the number of listings coming onto the market, known in the industry as “new listings,” has increased since the start of the year (see graph below):

 
 

This indicates more sellers are listing their homes for sale each month this year. And according to realtor.com, this growth is expected to continue. Their research finds the majority of potential sellers plan to list their homes over the next six months. Realtor.com says:

“. . . markets may see a noticeable bump in the number of homes for sale as we move through spring and into summer. A majority of homeowners planning to sell this year indicated that they aim to list in the next six months, with almost 10% having already placed their properties on the market.”

Homes Are Still Selling Quickly

But while new listings are increasing, it’s important to know they’re also selling quickly. The latest Realtors Confidence Index from NAR shows the median days on market for recently sold homes since the beginning of the year (see chart below). The time on market has decreased month-over-month. That means homes are selling even faster than they did the previous month.

 
 

What That Means for You

While a low-inventory market is difficult to navigate as a buyer, there is hope. The growing number of new listings and the expectation more sellers will list their homes in the coming months is great news if you’ve had a hard time finding a home that fits your needs. Just remember, those new listings are going fast. That means you’ll want to keep your foot on the gas and be ready to act if you find a home you love this season.

Your agent can help you stay on top of the latest listings in your area so you can find the home that’s right for you and submit your strongest offer as quickly as possible.

Bottom Line

If you’ve been having a hard time finding your dream home, stick with your search. More options are coming to market and your ideal home could be one of them. Partner with a real estate professional to stay up to date on the latest listings in your market, so you can be ready to move fast when you find the one that’s right for you.

Read more like this on Keeping Current Matters.

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Just Listed: Gorgeous Home on 9.4 Acres in Bend

 
 
 

This gorgeous home is set up and ready for your country lifestyle while being close to town and on a paved road.

The property is 9.4 acres with an amazing 40’ x40’ shop, woodshed/gardening shed, livestock pen, dog run, sprinklers, wired for a hot tub, and more. The home features a covered front porch, 3 bedrooms, 2 full baths, and a loft that could be a second living space, office or workout room. The exterior was repainted in 2021, interior was repainted 2022 and front porch was stained in 2022 as well.  New carpet was installed May 2022. The dream shop is 40’x40’ (currently holds a 35’ RV),heated by propane, 220 for welding or other needs, 30 amp RV plug, 12’ lean to with lights and exterior outlets, ceiling fan, and more. Septic feasibility has been done for potential future ADU-buyer to do due diligence with the county.  If it is allowed access could be from Timland Lane or Gribbling.

Listed by Rhianna Basye for West + Main Homes. Please contact Rhianna for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
westandmain.co
hello@westandmainoregon.com

Presented by:
Rhianna Basye
(503) 318-8452
rhianna@homesbyrhianna.com


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