The Benefits of Living in a Master Planned Community: Holding Value/Premium At Resale. Homes in master planned communities typically carry a premium at resale. This is a win for homeowners. Research done in 1994 by American LIVES and InterCommunications Inc. did a nationwide study to obtain homebuyers' reactions to a wide variety of community amenities and features. The study showed that people were willing to pay a $13,500 premium for a master-planned community, compared to a home in new subdivision.
Community. A survey conducted by Mobil Land Development Corporation found that the surround community often is more important than the house itself. Our own research from Hebert Research Inc of Bellevue suggests that homeowners are willing to add time to their commute to the floor plans and features they want at a price they can afford, in a community that offers quality schools, shopping, recreation, and homes that offer. Specific development techniques that create the feeling the community include organization of single-family homes into distinct neighborhoods, a variety of housing types, retail, and parks.
Controlled Growth. Master planned communities more efficiently manage land, increasing the density of development without sacrificing homeowner priorities – such as sidewalks and parks. This creates a positive living environment while minimizing sprawl. The benefits of controlled growth are less impact on sensitive environments, better concentration and utilization of municipal support services, such as schools, roads, hospitals, police and fire. Controlled growth has appeal to residents as well. In the American LIVES study referenced above, homeowners were found to prefer a highly defined town center, rather than the uncontrolled strip-mall retail alternative common to other suburban environments.
Attractiveness. Master planned communities combine high quality homes and diversity of home styles, with well-designed landscapes, parks and play spaces, and other amenities for tremendous street appeal. The homeowner covenants also assure that the attractiveness of each neighborhood is maintained over time.
Stay In the Neighborhood Even When Housing Needs Change. Because master planned communities offer product choices to meet a variety of life stages and circumstances, Lakeland is seeing multiple generations of the same family buying within these communities. Young married couples are living in the same neighborhoods as their parents and grandparents and getting the homes they need for their different life stages, all the while living close together to share the company of their family members along with the community's many amenities. What this also tells residents is that they can get their first home at Lakeland and stay within the community, as their housing needs change.
Support for Diverse Lifestyles. Singles, retirees, married couples without children at home, aging adults, college graduates who are once again living with their parents, and immigrants with diverse cultural mores, language, housing needs, and location preferences can all find their housing needs met within a master-planned community.
Convenience. The close proximity of schools, shopping, recreation and entertainment, and jobs (in the case of Sunrise) makes living in a master planned community more convenient.
Security and Safety. Enhanced community security and street design adds both perceived and real value to the community. Security patrols give residents peace of mind about unwanted visitors to the community. Street designs that reduce vehicle speeds and through-traffic give residents peace of mind, particularly about children playing outside.
