THE BENEFITS OF LIVING IN A MASTER PLANNED COMMUNITY | Ashbury Estate

THE BENEFITS OF LIVING IN A MASTER PLANNED COMMUNITY

THE BENEFITS OF LIVING IN A MASTER PLANNED COMMUNITY

May 2024 | Events & Local Area

If community, liveability and sustainability are on your property checklist, buying into a new residential land development could make good sense.

There are so many possibilities and pathways to home ownership.

And one increasingly popular way to achieve this is purchasing real estate in a new residential land development. Whether you're looking to buy your first home, a larger property to support your busy, growing family, a new lifestyle option, or a wealth building investment opportunity, new residential land communities (often referred to as 'greenfield' communities) can suit a range of households.

But if you’ve never experienced these modern communities, you might be wondering what residential land community living is really like and whether it’s the right choice for you.

For many buyers, residential land developments tick all of the boxes, and it’s easy to see why.

 

Community spirit.

One of the most compelling attractions of buying into a new estate is the strong sense of community.

With any housing development, most, if not all, purchasers are new to the estate and all share the common goals of purchasing their dream home, irrespective of whether they’re a first or second home buyer. For families with young children in particular, buying into a residential development provides an ideal opportunity to develop close connections with neighbours who are often at a similar same stage in life and share common interests, in a peaceful and secure environment where residents look out for each other and the welfare of the estate.

Location and Amenity

The land development space is a highly competitive market, and developers are always looking at ways to improve their design and win new purchasers over their competition.

With easy access to public transport, community services, shopping centres, schools and recreation a priority for many households, extensive work goes into designing estates to ensure they have the amenities that residents want.

That means, to succeed, new developments are typically thoughtfully designed in sought-after locations where residents have the convenience of all of the amenities they need, close to home.

Affordability

Another desirable aspect of buying into a new land development is the affordability factor, especially in comparison to inner-city areas. Often opting for a new estate means being able to customise your home to your needs at a more competitive price than buying an established property. Many new developments offer a variety of high-quality housing options and different home designs and land sizes to choose from suited a variety of budgets, enabling you to purchase land and engage your own builder to customise your home to your specific needs and budget, or you can choose from a range of house and land packages with pre-determined designs and features, at pre-set prices.

There’s typically a six – twelve-month gap from when land goes on sale and a deposit is paid to when the land is titled, which can also give you extra time to save. Plus, various government initiatives, like stamp duty concessions for first home buyers, can also make purchasing or building a home in a new development a more affordable option.

This comparative affordability can also result in greater long term capital growth benefits as your parcel of land appreciates over time at a better rate.

Liveability.

In recent years, post COVID, open spaces, playgrounds, parks and recreation facilities have become more important than ever as people seek a more balanced lifestyle.

New master-planned developments typically incorporate planned or established features such as green spaces, walking and cycling paths, parks and sporting facilities, with a focus on boosting liveability by providing more spaces for residents to relax and a healthy and active lifestyle, and connect with one another.

Creative Control

Whether you’re building a new home or buying a house and land package, one of the most important things most home buyers are looking for is the freedom to make a house into a home of their own. One of the advantages of building your own home in a residential land development, is that it allows you to personalise your space and create a contemporary home that best reflects your personal style and way of living. Customisation of your house during the construction phase may also make more economic sense than buying an existing home and then renovating it to suit individual preferences.

High Baseline Standards

All residential housing developments maintain stringent regulations covering things like what building materials can be used, their environmental impact, the installation of plumbing and electrical systems, and adherence to building codes etc, giving new home owners confidence and comfort about the standard of housing they can expect in their estate.

Purchasers can also expect high quality infrastructure – from new roads and services like fast broadband access to homes that are built to a consistent, high standard in accordance with set design guidelines, that protect the integrity of the development and maximise the value of their investment.

Modern Technology

An obvious advantage of buying a modern home is that it comes with all the benefits of the latest materials and technology that are utilised in current constructions. That means that e new home owners reap the rewards of features like better insulation, the latest heating and cooling technologies and energy efficient appliances, greener and more energy efficient homes also help counter rising utility costs, ensuring residents spend less on gas and electricity bills.

 

With so many amenities and advantages, it is easy to see why buying in a new housing estate can be an attractive purchase. One purchaser who doesn’t need any persuading is Acquisition Director, Scott Torrington. Over the past 3 decades, he has bought into four residential estates, building his first home when he was only 21. He is currently renting out his most recent purchase, a townhome at Dennis Family’s Manor Lakes Estate, while he decides whether or not either he or his son or daughter will live there.

For Scott, the key appeal of residential land communities is their accessibility to a wide range of services and amenities. “Master planned estates generally have everything you need right on the doorstep. They’re typically located close to good schools, shops and transport hubs. Buyers can expect new facilities including plenty of parks and recreational spaces, which is especially attractive for families with young children. And now with so many more people working from home, guaranteed fast broadband access – now mandatory for all new estate builds, is another bonus.”

For Sumit Patel and his wife, the village lifestyle and an opportunity to join a connected community were major drawcards. They moved into their first home at Tarneit’s Westbrook Estate in 2020. And now, in another milestone, they’re about to become one of a growing number of Westbrook homeowners to build their second house on the Estate, having bought a larger block late last year.

Says Sumit, “When we first arrived from India, we looked at quite a few estates, but ultimately decided on Westbrook because we wanted to live in a family-friendly residential development that that was purpose-built for comfort, security, convenience and a healthy lifestyle. The prospect of joining an obviously warm and welcoming, family-oriented neighbourhood has always really appealed to us.”
 

 

Regardless of your stage in life – whether you’re upgrading to a larger family home or downsizing to cosier square footage, buying in a new housing estate could be the perfect place to put down roots.