Pros & Cons of Buying a Home in a Development

Real Estate Blog

The time has come for you to buy a house. You may already have ideas in your mind of what you want in such a house, such as the number of bedrooms and the type of kitchen. But there's an important decision you need to make before you start doing any serious shopping: do you want to buy in a development? There are both pros and cons to living in a housing development.

Pro: You'll have plenty of neighbors nearby.

When you live in a development, there are homes across the street, next door, and down the road... which means there are plenty of people around. Many developments also have amenities that encourage neighborly interaction, such as on-site cafes and playgrounds. By comparison, living on a more rural street can feel a bit lonely, and people may not make such an effort to interact and get to know one another.

Con: Developments can lack variety.

If you like eclectic homes with a lot of history, a development may not be for you. There is usually little variety in homes; they all look about the same and are new. Some people like this cohesive look, and others are bothered by the lack of character.

Pro: The homes and yards nearby should be kept up well.

Do you value tidy yards and homes? On a more rural street, you may have some neighbors who are not so dedicated to home upkeep. This makes your view less appealing, and it may even decrease the value of your home. This is not such an issue in developments. There are rules that the homeowners may abide by regarding home and yard upkeep; they may even be fined if they don't obey these rules. As a result, the yards next to and across from yours will look just as clean and presentable as your own.

Con: You'll need to pay HOA dues.

Most developments have a homeowners association, or an HOA. The HOA does things like enforce yard upkeep rules and maintain public use areas like the playground. The downside to this is that you have to pay dues to the HOA, which adds to the cost of living in a development. If you don't like this idea or are on a really tight budget, you may want to steer clear of development homes.

So, does living in a development sound like it's for you? Talk to realtor services about living in areas such as Waterway Village.


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