A master-planned community is exactly what the name implies…a community with a master plan. This is a place where all of the community’s key elements have been carefully planned and considered long before the first shovel hits the ground or the first home is ever built.These communities are planned to create an optimal mix of residential homes, businesses and parks. Some also include schools, churches and other community amenities. The benefits of a master-planned community include: variety, accessibility, amenities, green space, and a true sense of community.
Benefits of living in MPC’s
Master-planned communities have made their way to the forefront when it comes to offering a lifestyle that provides all-inclusive living, with conveniences you won’t find in older neighborhoods. Those days of having to leave your neighborhood to get a bite to eat or go to the gym are disappearing. Master-planned communities are coming to people’s attention as being more than neighborhoods as they take factors such as location, quality of homes, open space and amenities into consideration. The thought and careful planning that goes into the architectural and landscape design ultimately brings a higher value, greater diversity and an investment appreciation for the homebuyer. Because the entire area is pre-planned, there are many benefits to living in one of these communities. Convenience is obviously one of the biggest advantages, but there are certainly more, such as beautiful landscaping. MPC neighborhoods are meticulously cared for by a dedicated team of landscapers. What’s more, these communities often include amenities such as walking/jogging/biking trails, playgrounds, and more. Another benefit has to do with competitive prices. Because the homes in a master planned community are similar from floor plan to floor plan, the prices can be competitive when the properties go onto the market. The stabilized values are important, too. In other words, one neighbor can’t devalue another’s property. Putting it a different way, these communities are generally in an HOA, which means property owners must keep their houses in good condition.
Home sales shine as MPC’s
Home sales at the nation’s top master-planned communities (MPCs) continued increasing in 2013 to the highest levels since 2007. A noticeable issue among the top-selling communities in 2013 is the availability of lots and entitlements to meet increasing household demand. In more mature communities, land supply is diminishing and impacting their ability to capitalize on product segmentation, while in other communities, challenges related to entitlements and new lot development have hindered sales potential. New communities that are replacing the mature communities have seen some of the most significant increases in sales. Investment capital is now more readily available to MPCs compared with two years ago, as other residential investment opportunities such as multifamily are more saturated. MPCs continue to thrive based on buyers’ belief that MPCs are the best places to invest and live, enabling MPCs to maintain their strong market share from 2012, despite increased competition from a larger number of builder subdivisions. The top 20 master-planned communities in the country sold 15,338 homes in 2013, which is an 11 percent increase over 2012. With nine communities, Texas dominated the list. Florida had 4, Nevada had 3, and California had 2. Colorado and the DC area round out the list.