2019 Idaho Real Estate Blog

Top 10 Signs a New Community is developed to hold it's Value Main Idaho Real Estate Insights
There are many new subdivisions across the Treasure Valley but how can you tell which ones are of higher quality?

Idaho Real Estate

Tips to Finding a Great Community

  1. All subdivisions are developed by people for profit but some people are strictly investors looking for ROI and have no real concern about the property otherwise. They would walk away if they could not make a miniumum amount of return. Developers on the other hand do this as a business. They buy, develop and market properties so they're looking to continue to enhance their reputation and not leave town when it is over. Therefore, one sign of a quality community is a local developer with multiple communities they have developped and marketed successfully. You can even ask the real estate agent for a list of communities the developer has completed before.
  2. Amenities. The more features the community has the stronger it is. Beautiful Entrance, pressurized irrigation, parks and open space, walking paths, schools within the community all contribute to keeping the community valuable to the residents and future home buyers.
  3. They have to be real benefits. Many times a community promotes benefits that are not really benefits, for example location. In Boise, with an everage commute of just over 20 minutes there is very little benefit to location and there are plenty of affordable choices across the Treasure Valley so you will not be forced to choose a bad location based on price options.
  4. Whatch out for future amentiies. If you are one of the first home owners of a new community with a proposed pool, it is unlikely that you will see it soon. Even when it is promised.
  5. Quality Homes. Homes in a new community don't have to cost $1M to be quality. As a matter of fact there have been million dollar homes that were built cheaply. The important aspect of quality homes is what will these homes look like in 10 years or 30 years..
  6. How big is the subdivision? The bigger it is the longer it will take to complete and sell out. This is important because if the community allows 'bad' houses to be built it will look bad and develop a bad reputation. The developer is going to lose money if the community shows poor quality homes. Increasing the lot costs is the name of the game for the deveoper. So it is in the developers best interest to only sell lots to quality builders.
  7. Strong CC&R's.
  8. Strong Design Review Team. Every new home that is built in the community affects the value and reputation of the community. See #6
  9. Great Schools in the area.
  10. Streetscape. Ever driven through a community that was just well designed and flowed well? When you see curved streets, beautiful light fixtures on each corner and great entrances you know that someone not only put some thought into it but probably some pride and dollars. Straight streets cost less.

Trey

 
Posted by tlangford at 7/6/2011 1:38:00 PM
Comments (1)
Re:Top 10 Signs a New Community is developed to hold it's Value
Very informative blog. In the Austin Texas area I have seen many new subdivisions come along. it appears some builders determine the future of the subdivision. Also location can play part in the future values of a subdivison.
Posted by on 9/16/2011 2:00 PM

 

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