Benefits of buying property in a new construction community

Increasing housing supply is a big challenge facing our country. In response to the immense pressure to build more high quality, environmentally friendly homes, developers have come up with various types of housing solutions. One of those solutions is creating thriving communities and establishing green and clean spaces through residential communities. 

A construction community, also known as a housing development or residential development, is an area where multiple homes are built simultaneously by a developer or builder. 

These communities are typically created from undeveloped land or areas where existing structures are torn down to make way for homes. The primary focus for such communities is to enable as many people as possible to own homes in organised environments. This is why different organisations and investors in Uganda have since ventured into the kind of housing. 

Features

Construction communities have outstanding features that set them apart from the rest:

Construction communities consist of multiple homes built at the same time or in a phased manner. These homes can range from single-family houses to townhouses, condominiums, or apartments.

The homes share a uniform architectural style or design theme, creating a cohesive appearance throughout the neighborhood. This design consistency can enhance the overall aesthetic appeal of the community. For example, homes can be built with the same type of roofing or similar paint.

Additionally, developers often include shared amenities within the communities to attract buyers. These amenities can include parks, playgrounds, community centres, swimming pools, fitness facilities, walking trails and green spaces. Some incorporate not only housing but also commercial, retail and recreational areas to create self-contained neighborhoods.

The necessary infrastructure, including roads, utilities, sewage systems and landscaping, is essential to support the new community. This ensures residents have access to essential services and a well-maintained environment.

Many of them have a Homeowners’ Association (HOA) or Property Owners’ Association (POA) responsible for managing and maintaining common areas, enforcing community rules and collecting dues from residents to cover shared expenses.

Depending on the developer and the project, buyers may have the option of customising certain aspects of their new homes, such as finishes, fixtures, and floor plans, during the construction phase.

New homes in these communities often come with warranties from the builder, which can provide peace of mind to buyers concerning the quality and workmanship of their homes.

Benefits    

Purchasing property is one of the most significant investments a person can make in their lifetime. When making such a substantial investment, it is crucial to note that buying property in a construction community is a complex process that involves specific steps and considerations. David Musaazi, a property broker, says as a buyer, it is important to make research and do thorough planning before purchasing the property.

“Whereas each new construction project may have its unique requirements and processes, you are expected to follow the specific guidelines provided by the builder or developer through working closely with a qualified real estate agent, builder representatives and legal professionals to navigate the transaction successfully,” he says.

Therefore, it is important to note that today’s homes offer more benefits than before. Here are the benefits a buyer can get from buying property in a new construction community. 

Profitable

The biggest benefit of buying property in a residential community in its beginning stages is the potential of getting it cheaper. Properties in new communities tend to appreciate value faster than older properties, as they are often built in growing areas and offer modern amenities.

Whereas they are typically built with the latest construction materials and technologies, they often feature energy-efficient appliances, insulation and other systems, which can result in lower utility bills and reduced environmental impact. 

As new developments see an increase in residents, retail establishments, schools, and other amenities quickly pop up to service the growing population. This helps increase property values as more residents continue to move into the area adding to the demand and establishing the community.

Community spirit

Albert Muganzi, a real estate agent, says one is assured of a lucrative resale value if they are planning on selling the property in future. This is because of the modern features and up-to-date systems that tend to make such properties attractive to buyers. 

Shared amenities such as sports clubs, parks, playgrounds, swimming pools and clubhouses encourage health, fitness and the development of new skills. Community centres and clubs foster a strong sense of community, which can also help to prevent crime and anti-social behaviour and combat loneliness in older generations. 

They make it financially possible for people who can to be able to buy homes by facilitating financial incentives or partnerships with preferred lenders, which can make the financing process smoother and potentially more cost-effective.

Financial incentives

Often times, it is also easy to purchase a fully built home. This is because developers are looking at providing the best for their clients. They thus construct homes that look alike in design in an estate and this attracts buyers to purchase and move in.

Just as buying a car, new construction homes come with warranties that cover defects in material. For example, if the new house has a leaking floor during the warranty period, the seller can fix it and this saves the buyer from such expenses and provides the latter with peace of mind.

Furthermore, there are always low maintenance costs involved. With brand-new appliances and systems, you can expect a longer period before significant maintenance is necessary.