New subdivision developments are springing up around the country, and attracting buyers from all walks of life. Here’s a look at the good and the bad of these new neighbourhoods.
PRO: Amenities on your doorstep
Unlike older suburbs that have gradually evolved over time and often outgrown the capacity of their local schools, shops and parks, new subdivisions carefully plan these facilities into the area. The benefit of having amenities such as a shopping centre, school, day care facility, and park right on your doorstep can’t be overestimated.
CON: Your commute could get longer
One of the downsides of new subdivisions is that they are often at a distance from main centres, which means some residents face a longer commute to work and schools. They can also be off the beaten track when it comes to public transport, so check with the local council to see if there is future development planned to minimise your time spent in traffic or on the bus.
PRO: You can make substantial capital gains
If you buy early in a new subdivision that boasts a good location and has a reputable building company behind it, you could stand to make considerable gains when you come to sell it. Many subdivisions gain steadily in popularity as they grow, so you may be rewarded when it is time to move on.
CON: A lack of established trees and green spaces
While all new subdivisions incorporate green space into their plans, it’s sometimes a little disheartening to see the tiny trees, shrubs and freshly laid grass lining the streets. It takes time for new developments to establish greenery, so if you’re moving into one, you’ll need to be patient.
PRO: New homes built with the best technology
Looking for the latest in warm, dry and sustainable homes? New subdivisions have the benefit of utilising the latest in home building technology, boast clever storage solutions, and offer easy-living layouts. New homes also cut down on the amount of maintenance required, which means you have more time to enjoy your weekends.
CONS: Your ability to personalise or individualise your property can be restricted
Many new subdivisions place covenants on what you can do in order to maintain the aesthetic of the neighbourhood. Restrictions can include limits on additional structures, the location of washing lines and satellite dishes, the parking of caravans or mobile homes on properties, and guest parking on the street. Make sure you check these out before you buy.
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