While there are certainly a lot of great reasons to buy a home in a newly built neighbourhood—the latest energy-efficient technology and that new-home smell being appealing—there are things to consider before deciding if it’s the right choice for you and your family.
There might be a lack of amenities. Since it’s a new development, that means there will be a lack of development in the area. Everything is still being built out, so you might have to drive more than usual to access simple things like schools, grocery stores, corner stores and community centers. If having things within walking distance isn’t important to you, then it shouldn’t be an issue. And, over time, these amenities will eventually be built.
You might lose your spectacular view. Bought a new construction condo with a beautiful view of the lake? Well, it might be beautiful now, but when they turn that parking lot in front of you into a condo, it might disappear. Therefore, it’s important to be aware that the view might be ever-changing.
The construction can seem never-ending. While you might not lose that view for a while, the process of losing it might be enough to make you want to move. Construction in the area can be very off-putting to those who don’t want to wake up to construction noise every day for years.
It might lack that community feel. Since everything (and everyone) is new to the area, and amenities aren’t yet built, a new development will lack that welcoming, connected sense of community you’d be more likely to find in an established area. So you might have to work a little harder to build up that community feeling.