It is finally time to buy your own house. You have started the process of checking out new locations for your new house, evaluating home builders, finding the right realtor, and so on. But before you go into the process of planning and looking, you must first take into account building or buying a property in a planned community.
Planned communities offer a wide variety of housing options along with excellent amenities, recreation, open space, and homeowner support services. This type of community offers a lot of advantages and disadvantages, and the option to consider this type of living will depend on your preferences. You have to understand that that planned communities are very appealing for many homebuyers due to their busy lifestyle. In addition, this type of community offers high quality home living and new homes that are ready for immediate move-in. Other pros and cons are listed below.
Price : Most planned communities offer homes in various price range, which is usually around $ 1,000,000; however, you might also be able to find multi-family homes priced much cheaper than single family homes in the same market. With that said, some planned neighborhoods are an ideal location for first-time homebuyers.
Security : This type of community offers gated access, resident security guards, patrols, and other security features. Even in neighborhoods with no formal security, they can still offer a higher level of security because of the higher housing density.
Amenities : A well-planned community offers various amenities. The usual features may include community activity buildings, tennis courts, swimming pools, health and fitness center, and so on.
Maintenance : Most of these communities also provide ongoing maintenance, including leaf removal, lawn mowing, and so on. There are also other neighborhoods that handle major maintenance regularly, such as exterior painting. With these services, you will not have to worry about maintaining your yard as well as your outdoor exteriors.
Convenience : These neighborhoods are also located in areas with easy access to shopping centers, public markets, schools, and so on.
Density : Although this type of community offers various types of housing, such as single-family houses, the density is typically much higher than standard single-family housing. Once the development is completed, the neighborhood can crow a huge number of people into a small small location, creating various problems, such as traffic.
Lack Of Privacy : Due to the higher density, it also lowers the level of general privacy.
Maintenance Fees : Just like condominiums, this type of community charges maintenance fees. These fees can range from considerate to high costs. Failure to pay for these fees can result in legal action by the homeowners association.
Resale Problems : Buying a house in a huge ongoing development can lead to resale problems. The number of units can produce a huge inventory of available units which will then compete with new products from the developer.
These are just a few of the pros and cons of buying or building a house in well-planned communities. You must take these issues into consideration before making a commitment.