Looking for your new home? Have you considered building a new custom home in a planned community? We all have an ideal of where we want to live or what lifestyle we want for our family. Picture yourself in your ideal place. Does your picture include a gated community for safety? Does it have a pool, playground or nature trails? Here are 7 questions for you to answer to help you find your ideal real estate community.
How many lots for sale in the real estate development?
The size of the real estate development will determine not only the buying price but also the selling price when you decide to move on. Developers of an estate with 2000 home sites to sell are more likely to negotiate the land price to help them make a sale but buyers years from now will expect the same kind of deal from you. Also the greater the number of homes, the less likely the architectural guidelines will be enforced due to the sheer volume of work involved. Less land for sale equals less sales competition within the community and easier management of architectural guidelines; all adding up to offer you better protection on your dollars invested in your custom built home.
What is real cost of the land for sale?
The smaller the lot size the lower the cost you can expect. Check also what you get for your money, not just on your lot but also the community. Views, water frontage or river access typically increases the cost. Watch lot prices for the development you are considering buying into and check previous sales. Development size can be a factor in land cost as the larger the development the greater the chance the developers will undersell you when times get tough for them. Deals can be found buying land with building restrictions can save you money in the development you want so be sure to ask the development Realtor.
How big a lot do I want?
Of course the smaller the lot size the lower the expected cost. But you need to consider other factors than cost. How big is your planned home? Can you live with the neighbor looking into your yard or do you want to see into their yard? Do you own pets that need space? Do you need to park an RV, boat or want a garden? Larger lots provide space for privacy as well as space for family and friends to enjoy.
How old is the estate?
The age of the estate and the percentage of lots sold tells you how desirable the development is to others in the market for land for sale. This is a strong indicator of not only how easy it will be for the Developers to complete sales of estate lots but also for you at resale. Check to make sure the developers have delivered on all the promised amenities. Is it 2 years old and you still waiting for sealed roads? Is the pool or Club House is complete? This demonstrates how committed the developer is to delivering on promises.
How much are the fees?
What fees are required to be paid monthly, quarterly or annually? What amenities and services are provided for those fees. Does the HOA take covenance control seriously to protect your investment? Drive through the estate to see firsthand the amenities and upkeep of the real estate development. Don’t forget to factor these fees in your monthly expenses.
What amenities are included on the estate?
Compare the amenities offered by the different developments. Is there family style parks and playgrounds? Does it offer play equipment, game courts or ponds? Is there a pool, club house or even a country club? Is there river access? Or are the “jogging” trails in the green belt designed to make you not ‘see’ the power lines and towers?
What features did the developer include in the construction?
Developers often add intangibles to help their real estate differ from other estates on the market. Aesthetic touches or conveniences add to your overall lifestyle and enjoyment in your new home. Features of a real estate development may include curbed or fancy ribbon curbed roads, underground power lines, preservation of trees lining roadside (trees not cleared for utilities), grassed common areas, and water features such as fountains. Gated communities offer an additional level of comfort and safety for many people. Even the convenience of a roadside mailbox rather than one in a community cluster adds a little something to your every day.
Decide what lifestyle you want and amenities you are looking for in a real estate development. Then with your checklist see which location suits you best. Once you decide where you want to live you can select the best land for you. Considering the Texas Hill Country area for your new home? Compare land for sale in the New Braunfels real estate market. What is most the most important feature in a planned community to you?
