Texas continues to be one of the hottest housing markets in the Sunbelt region. A recent Homebuyers and Sellers Report shows higher numbers for first-time home buyers, new home buyers, and purchasers of single and multi-generational family homes compared to other areas in the United States. The report also cites that millennials and Gen Z are buying their first real estate property.
And where do prospective buyers find homes in Texas? What do they prefer? Some would say it depends on the location. Major cities such as Austin and Houston continue to attract out-of-state buyers but smaller towns in Texas don’t fall behind. According to the same report, home buying in these locations accounts for 16% of purchases, a considerable increase from the previous decade.
Regardless of the area, Texas seems to be an attractive option for many. But home buying isn’t just about a good lot or a great view. Buyers also need to think about other considerations as well. But one thing is for sure: buyers prefer new homes for several reasons.
And why not? New homes don’t need extensive renovations. You can even customize them to suit their needs and preferences. Still, new homes have modern features that make them comfortable and efficient. Others go beyond a house’s curb appeal to check on the neighborhood for additional amenities or find a sense of community.
And where can new home buyers in Texas find all of these? In master-planned communities. Also known as garden cities or micro towns, they offer buyers not just a house and lot package but a living experience that’s worth the investment.
Master Planned Communities In Texas
In essence, master-planned communities (MPCs) offered by the likes of PecanSquareByHillwood.com are large-scale development projects that feature newly built homes and a lot more. Built on acres and acres of land, they’re considered micro towns because they feature mixed-used properties. Some call them garden cities because of the greenery surrounding homes and commercial establishments.
You can find them near large cities, but far enough from the traffic and noise. Location is their advantage as it can offer home buyers the best of urban living with a suburban vibe. Think of them as a higher-level suburb or exurb.
They feature different home styles, such as single-family homes, townhouses, and apartments. Some even offer multi-generational homes that appeal to families with young kids, older adults, or both. But that’s not all.
Master-planned communities also offer lots of outdoor spaces and a mix of recreational and social establishments. Think swimming pools, fitness centers, parks, and community halls. Larger MPCs can even have their school or have one nearby. They take care of everything you need so you can study, work, and relax without having to wander far from your home.
These and other features make master-planned communities in demand, especially in the South. According to the Houston Business Journal, Texas ranks second nationwide for the greatest number of homes sold in master-planned communities for the first six months of 2021. Additionally, another survey lists northern Texas as home to four of the country’s top 50 master-planned communities. Apart from major cities such as Austin, El Paso, Houston, and San Antonio, smaller towns such as North Lake and Little Elm also have them.
It appears that MPCs are all over Texas, and for good reasons. Buyers of all ages are moving into these micro towns—a decision that could change the Texas housing market and a lot more.
New Homes, New Communities
Traditionally, prospective buyers consider property location as a prime factor. Proximity to schools, offices, or commercial establishments makes it ideal for starting a new career or growing a family. For those planning to retire, a smaller yet functional home is a great option when it’s near a park or a community building.
Unfortunately, some buyers aren’t so lucky to get all they want. Some might need to trade a larger home for a longer commute or pay a higher price just to find the best spot in a neighborhood. Still, others may have to wander farther away from the city and into the suburbs where prices are more affordable.
Master-planned communities are changing all that. There’s no need for compromise to get your dream home. Homeowners get to enjoy the following in a master-planned community.
- New Home Construction
The latest 2022 Homebuyers and Sellers Report indicates that 33% of homes sold in Texas were new homes. Respondents state that new homes take out the hassle of renovating older properties. Add to that the latest home design and additional perks such as energy-efficient appliances or modern landscaping.
What’s more, planned communities such as those offered by UnionParkByHillwood.com and others are completely customizable. Buyers get to choose what type of roof, floor, or paint color they can place in their homes. You get a new home according to your needs without having to spend as much when renovating an older home.
- Micro Town Lifestyle
Apart from being a residential project, master-planned communities also have commercial establishments in the area. You don’t need to travel far to find a school for your kids, a shop for your essentials, or a restaurant for a quick lunch.
In essence, buying a home in these communities is a great convenience. You have everything you need and perhaps more. Apart from shopping, MPCs also provide recreational facilities such as gyms and swimming pools. Others also offer luxurious amenities like tennis courts and golf courses for a reasonable homeowner’s fee.
- Different House Styles
Compared to other housing development projects that feature the same look for every house and street, master-planned communities provide a variety of home options. Depending on your budget and needs, they offer large homes with spacious backyards or space-efficient townhouses and apartments.
As such, master-planned communities draw in buyers from life stages. There’s bound to be a home for young professionals seeking a place to establish their families to empty nesters planning to age in place. Apart from different housing styles, some planned communities may even offer rent-to-own schemes.
- Outdoor Spaces
Buyers also favor MPCs because of their sprawling open spaces. Outdoor areas such as parks and playgrounds encourage would-be residents to participate in activities such as walking, or jogging.
Trails and bike paths provide an even deeper connection to nature. Yoga platforms and other wellness activities make it easy for everyone to stay fit while enjoying the Texas weather. These spaces are not just for humans but for pets too. Doggie parks are one of the latest attractions in these communities, along with other pet-related services.
- Sense Of Community
When you buy a home in a master-planned community, you get more than a good view and a gym membership. There are also plenty of activities to help you get to know your neighbors. Weekend concerts or community barbecues allow you to socialize with other residents or with guests. The homeowner’s association may also organize other activities to sustain community spirit. That said, buyers can expect a different living experience in a micro town. It not only offers modern convenience but also fosters a sense of community for its residents.
How Master Planned Communities Affect The Texas Housing Market
Master-planned communities are not only advantageous for home buyers. They’re also setting a new trend in the Texas housing market. For one, these communities capitalize on the suburban exodus, with buyers seeking homes in locations with a lower cost of living. As MPCs have ideal locations, they can provide modern amenities without sacrificing the suburban vibe that most buyers desire.
The demand for newly constructed homes also encourages the rise of master-planned communities in Texas. Builders and investors can take advantage of the high demand by offering different residential options to cater to a wider market.
Builders should keep in mind the need for multi-functional homes, especially for professionals working from home. Accessibility is also important for older adults or families with special needs.
Apart from considering the needs of millennials or empty nesters, they should also offer homes suitable for every budget. Keeping prices low in a hot housing market can be challenging, but for MPCs, this will surely ensure buyer interest even when the market becomes competitive.
Developers should also consider what types of amenities to include in their master plan. Most prospective buyers look for wellness amenities such as swimming pools, fitness centers, and walking trails when evaluating an MCP. Community engagement is also another factor most buyers consider.
Changing demographics also change the current housing market. Millennials are now the leading purchasers as they begin to build their careers and families. Planned communities should consider offering multi-functional and energy-efficient homes along with the convenience of shopping centers and wellness amenities.
In sum, master-planned communities are setting a new trend in Texas housing. They encourage buyers to purchase custom-built homes that offer modern features and designs that suit most budgets and lifestyles. Master-planned communities also provide additional amenities that promote fitness and socialization through open spaces and carefully planned structures.
Master-planned communities in Texas not only sustain the demand for new homes but also pave the way for a new housing market trend that goes beyond selling property to promoting a new community living experience.