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Old 08-23-2009, 07:32 AM
 
2 posts, read 28,830 times
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Hello,

Looking for some advice on what our HOA needs to consider when it comes to adding a security gate to our subdivision. We have some residents proposing this and I would like to get some educated feedback. We have only one entrance and the 40 homes in the neighborhood are in the 300-400K range. Do any realtors have any data on the before and after affect on property values?

Thanks
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Old 08-23-2009, 07:59 AM
 
Location: Murfreesboro, TN
763 posts, read 2,346,416 times
Reputation: 714
Not sure where you're located, but in Rutherford County, if a HOA decides to turn itself into a gated community, they are responsible for road maintenance going forward. A development just down from me considered doing this a year or so ago but abandoned the idea when they considered the increase in HOA dues they'd have to impose.
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Old 08-23-2009, 08:21 AM
 
Location: Franklin, TN
623 posts, read 1,680,781 times
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Is there a lot of crime in your subdivision? If not, if I lived there I would be really mad if a gate was put up. Seriously, I'd be wasting part of my life everyday waiting for the stupid gates to open up when I came and went. Then I'd have to always be letting my friends in when they came and visited.

What a pain.
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Old 08-23-2009, 08:27 AM
 
15,847 posts, read 29,127,800 times
Reputation: 19772
Quote:
Originally Posted by samg3 View Post
Hello,

Looking for some advice on what our HOA needs to consider when it comes to adding a security gate to our subdivision. We have some residents proposing this and I would like to get some educated feedback. We have only one entrance and the 40 homes in the neighborhood are in the 300-400K range. Do any realtors have any data on the before and after affect on property values?

Thanks
Is this for Nashville or Mississippi (your IP)?
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Old 08-23-2009, 08:45 AM
 
2 posts, read 28,830 times
Reputation: 13
This will be in Nashville. In regards to crime, it is virtually non-existent in the neighborhood. Two dead end streets, a lot of retired and work at home types keep an eye on any car that does not belong.


The main reason this is being considered is in terms of exclusivity and potential increases in home values. We also have a larger than needed reserve in the HOA accounts.

Some studies link 5-10% appreciation based on adding gates to a community so I was looking for any local comparisons
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Old 08-23-2009, 09:33 AM
 
Location: Nashville, Tn
7,916 posts, read 17,435,841 times
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I lived in a gated community in the Phoenix area for 55+ and most of the people there lived there part time in the winter and went back home for the summer. The fact is they reduce the possibility of crime because not just anybody can drive into the neighborhood. People have little electronic buttons to open the gate similar to a car garage door opener. There were about 1600 houses in my community and there was never any backup getting past the gate. I felt very secure there and I can't imagine why anyone would oppose the idea because it's quite effective and I've never heard anyone suggest that this would have any impact on the value of the house whatsoever. It's just that it's not as common in this part of the country and people often have questions about something they're not familiar with. My HOA fees were also very reasonable.
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Old 08-23-2009, 09:42 AM
 
Location: Franklin, TN
623 posts, read 1,680,781 times
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I would be very hesitant relying on any studies showing appreciation. I would guess those studies are paid for by either builders who are building gated communities or crime companies trying to show how much more your house is worth because of the gates. I would very much like to see these studies and their methodology, so if you could link a couple that would be great.

What I would consider if I was in your shoes is the potential buyer and your neighboring subdivisions. Based on what I have seen driving around last spring after we moved here, $300-$400k subdivisions with gates are a dime a dozen in Williamson county. Builders tried to make these upper middle income subdivisions seem more exclusive so they could charge a premium.

I think gated communities mean more in a place like Phoenix where from block to block it can go from great to dicey.

If I was in your community and there was substantial excess reserves, I'd be asking why the board is not reducing the assessments instead of finding a reason to spend the money hoping for 5% appreciation in my home.
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Old 08-26-2009, 11:44 PM
 
1,316 posts, read 3,592,363 times
Reputation: 321
Quote:
Originally Posted by samg3 View Post
Hello,

Looking for some advice on what our HOA needs to consider when it comes to adding a security gate to our subdivision. We have some residents proposing this and I would like to get some educated feedback. We have only one entrance and the 40 homes in the neighborhood are in the 300-400K range. Do any realtors have any data on the before and after affect on property values?

Thanks
you must be in a high crime area?
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Old 08-26-2009, 11:49 PM
 
1,316 posts, read 3,592,363 times
Reputation: 321
Quote:
Originally Posted by Mary_Moon View Post
Not sure where you're located, but in Rutherford County, if a HOA decides to turn itself into a gated community, they are responsible for road maintenance going forward. A development just down from me considered doing this a year or so ago but abandoned the idea when they considered the increase in HOA dues they'd have to impose.
it also sounds pretentious as hell, no? Sounds like a lot of new money yapping at each others ankles...
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Old 08-27-2009, 12:15 AM
 
Location: Murfreesboro, TN
763 posts, read 2,346,416 times
Reputation: 714
Quote:
Originally Posted by 12buttons View Post
it also sounds pretentious as hell, no? Sounds like a lot of new money yapping at each others ankles...
Pretentious? Yes. Their gripe was that people from outside the neighborhood were walking on their streets and sidewalks. Never mind that their beautiful lawns and estates were just cow pastures covered in manure a mere 5 years ago... Must keep out the riff raff!
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