Realtor's opinions requested: Picnic area and play set - advantageous for a neighborhood? (HOA, insurance)

[cry884]

In a neighborhood with a lot of young children and toddlers, do you think it would be a positive or negative for the Board to install a high-end play set and a picnic area? We sought the advice of a couple of realtors on this and are interested in hearing more. Do these additional amenities help or hurt property values for the neighborhood? Do your clients see these things as an advantage when shopping for a home? We have a pool, but no other amenities. Your advice and expertise is greatly appreciated.

[VickiR]

Depends on who you are marketing to.

Empty nesters don't really want a playground but perhaps parents do?

I'm trying not to violate Fair Housing by speaking of children!!!

Vicki

[MikeJaquish]

Should have a positive influence on values.
Not like a rocketship, just a positive rather than a negative.

These amenities are certainly desirable, but people definitely consider HOA dues and the value received.
Can you install this stuff without an increase in dues?
I would think the playground and picnic facility would be inexpensive for a whole neighborhood to fund. What about liability insurance costs?

[justthe6ofus]

Originally Posted by cry884

Do your clients see these things as an advantage when shopping for a home? We have a pool, but no other amenities.

I'm not a realtor so I can't address property values and such, but as a buyer with 4 children I can tell you that having those amenities would not influence us to buy in that neighborhood but it could be a detraction.

I can tell you that even WITH 4 children, I would never purchase a home if the playground/picnic area was close enough that I could hear the noise from that area. That would definitely be a detractor for me.

Our neighborhood has a playground area but because we are in a large subdivision, it is pretty far away (2 miles). We NEVER use this area for that reason. If I have to put the kids in the car and drive we just go to a larger playground.

The pool is a MUST for us though and having better amenities at the pool would be something we would be interested in (a concession stand, more tables and umbrellas, nicer bathrooms...etc).

Just wanted to add my 2 cents

[saturnfan]

Playground may require increased insurance premiums for the association.

[VickiR]

The OP already stated that there is a pool. Would the playground add to the insurance/liability for the n'hood?

Vicki

[MikeJaquish]

Originally Posted by VickiR

The OP already stated that there is a pool. Would the playground add to the insurance/liability for the n'hood?

Vicki

Right.
Good question. And I am sure the HOA board knows to consider it.
How could a playground carry higher liability than a pool?

[emanresu2]

Im not a lawyer, but I don't believe our HOAhas liability insurance as apparently because its an LLC the worst that can happen is that the HOA is sued and loses the reserve funds.

As for me, a playground is a plus - its not as noisy as a pool and it is a good place for kids and parents to get out of the house and meet their neighbors. Its also where our neighborhood hosts halloween and block parties, so people without kids use it as well.

[CHTransplant]

Originally Posted by emanresu2

Im not a lawyer, but I don't believe our HOAhas liability insurance as apparently because its an LLC the worst that can happen is that the HOA is sued and loses the reserve funds.

Seems like a judgment creditor could seek to go after assets beyond just the cash reserves - i.e., any real property (common areas) the HOA owns. And it could leave the HOA in such a miserable state that issues of maintenance, etc. become problematic (leading to an increase in HOA assessments).

[leighbhe]

Before I had kids I lived in a neighborhood with a playground that was within walking distance to my house. It was great during the day, lots of little ones out there playing with their parents. The downside was on the weekends in the evenings, and the middle school/high school aged kids would congregate in the playground, run all around on the play equipment, were very loud, etc. That is something I always think about when I see a playground in a neighborhood!!!

Leigh