You've heard it before—first impressions are everything, whether it's for a job interview, a first date, or the curb appeal of a new home. So, if your condo or homeowners association has begun to look a little shabby or as out-of-date, perhaps it's time to make everything old new again.
Sometimes it takes more than just a fresh coat of paint to update an appearance; sometimes it's a matter of investing in more—new signage, lighting, or landscaping elements, to name a few. But the bottom line of any makeover, small or large, is just that: the bottom-line benefits that you'll reap from a job well done.
HOA makeovers can create happier residents who get more profit for their investment, as well as an improved profile for the building or association as a whole. Properties that are well-maintained are not only aesthetically pleasing but it is a sure bet that property values will also increase.
Joel Mergas, of Forbes-Mergas Design Associates, Inc. in New York City, says that associations should be considering hallway updates at least every ten years, but lobbies—which take a heavier beating from foot traffic—should be refreshed every five or six years.
"Buildings try to stretch it out, but it's subject to the real estate market too," he says. "If the market is good, you can't afford to sit back and have your building fall behind. Competition drives the renovation."