Around 76% of homes sold between 2019-2020 were part of A Homeowners Association (HOA), and at the start of 2021, HOAs enjoyed an increase of approximately 1.3% compared to the previous year. Cost savings, convenience, the privatization of amenities and services, and the feeling of being part of a collective effort are just a few reasons why buyers are choosing to live in HOAs instead of detached homes. Doing so by no means involves maintaining the status quo. Rather, being part of a community provides a rich opportunity for construction companies to avail of renovations of common spaces. These projects reflect current trends in community living, a few of which can be found below.
Outdoor Construction and Landscaping
Recent studies have shown that time spent in green spaces have a powerful effect on human health and wellbeing. As a result, many HOAs are seeking to make the most of public spaces by embarking upon the construction of outdoor spaces for rest, leisure, and exercise spaces. Outdoor gym zones, pool areas, and deck or stone patios are just a few areas that promote a community spirit while enabling residents to relax and unwind in the midst of nature. The construction of leisure areas is being combined with professional landscaping that pays heed to native plant zones in an effort to reduce water and energy consumption.
Human-Made Natural Features
Major changes and construction proposals are usually made at annual owner meetings, where budgets are set and proposals are made for increased expenditure on specific proposals. In city and vacation resort cities like Myrtle Beach in South Carolina, Anna Maria Island in Florida, or Rehoboth, Delaware, unique projects are sometimes proposed at these meetings. As stated by one Myrtle Beach HOA management company, home dwellers are increasingly making creative proposals, such as the creation of an artificial beach or lake that mimics natural bodies of water. That is, projects are becoming increasingly more sophisticated, with some enabling communities to transform into the ideal spots for staycations.
A Switch to Sustainability
Sustainability is the buzzword in construction and design, and many HOAs are investing in renovations that promote environmentally responsible communal living. As such, the use of sustainable materials, energy efficiency, and water efficiency are all being prioritized in construction projects. As such, many HOAs are not only installing solar panels, drainage systems and water filtration, and water collection tanks, but also choosing to build eco-friendly structures made with reused and recycled materials. Natural lighting is also being prioritized during the design and construction of outdoor features such as clubhouses, gyms, saunas, and bathrooms. Finally, relying on modular construction is helping to reduce the amount of materials heading to landfills.
HOAs are enjoying a boom across the US owing to their convenience and stability. Rather than resting on their laurels, however, homeowners in these communities are seeking to make significant improvements via new constructions and renovations. Some of the most notable trends and priorities include the demand for outdoor leisure areas, natural resting spots, and environmentally friendly construction and materials.
