Private communities are there to provide you with a more secure, private, and community-driven residence option. But most first-time homebuyers, who make up 33% of the home-buying population, can barely figure out the real estate market condition and thus hesitate to make the private community home-buying decision.
Is Buying a Home in a Private Community the Best Decision For You?
As a first-time homebuyer, you should consider the following questions to have an answer to whether you should make a purchase decision within a private community.
Do you prefer living in a high-security area?
Privacy and security is the biggest feature of a private community. This community is mostly liked by individuals who prefer to have a high sense of security in their residence area. Entrance to a private or gated community is limited to its residents and a limited number of guests. So, you’ll naturally feel more comfortable and secure living in a gated community in Millsboro, Delaware, or Palm Beach Gardens, Florida.
Do you want to buy in an age-targeted community?
Maybe your parents live with you, or you want to buy this home for them, then an age-targeted community can be your preference. Some age-targeted community options are-
- Retirement Communities
- Senior Living Communities
- 55+ Apartment Rental Communities
- 55+ Communities
- Active Adult Communities
Do you have a confined budget?
Private community homes come at a slightly higher price because of all the facilities it has than a regular neighborhood. Most people have a limited budget and want to buy a home within that range. In gated or private communities, homes are available in the following range.
- Homes under 500k- Budget-friendly Homes: Palmas Del Sol East Resort in Apache Junction, Arizona, Sun City Hilton Head in South Carolina, K. Hovnanian’s Four Seasons at Homestead in Dixon, California, Trilogy at the Polo Club in Indio, California are some excellent budget-friendly private community home options to avail within $500,000. These communities enlist all sorts of housing options, from single-family homes to multi-family homes.
- Homes under 1M- Luxurious Homes: Eastman in Grantham, New Hampshire, Grand Haven in Palm Coast, Florida, Grandview at Bay Beach in Fort Myers Beach, Florida, Waterfall At Lake Burton in Clayton, Georgia, etc. are some private communities that have luxurious villas to condos under a million.
- Homes under 2M- Super Luxurious Homes: Chenal Valley in Little Rock, Arkansas, Reynolds Lake Oconee in Greensboro, Georgia, Tamarack Skiing Resort in Donnelly, Idaho, John’s Island in Vero Beach, Florida, Harbour Ridge in Palm City, Florida- these luxurious private communities have housing options- single and multi-family homes, condos, and villas for higher budgets from $1 million to $3.5 million.
Some budget-oriented community types are-
- Cottage Home Communities
- Eco-friendly Communities
- Luxury Condos Communities
Besides already-built homes, these communities also offer lots with a starting price of $50,000 to $60,000 for customers who want to build custom homes.
Are you looking for the best amenities?
Homebuyers prefer private community homes over other categories to have the benefit of the facilities that the community provides besides privacy and security. Swimming pools, clubhouses, and playgrounds are common amenities in almost every gated community, and you may have access to those without paying extra bucks. Other fasciitis you can enjoy-
- Less traffic and pollution: These communities are generally away from the hustle and bustle of the city. So, your neighborhood has reduced traffic. It might be a considerable investment decision for you if you prefer living in a less traffic zone.
- Less pollution: The gated communities are close to nature, they are less polluted, and you’ll always breathe in fresh, clean air.
- Regular upkeep: The Homeowners’ Association, though, takes fees against the maintenance; you enjoy an upkeep property.
- Ample amenities: Some facility-driven home communities are-
- Boating Communities
- Communities with a Dog Park
- Equestrian Communities
- Communities with Fishing
- Skiing Communities
- Tennis Communities
- Communities with Fitness Centers
- Golf Communities
- Communities without Golf Courses
- Communities with Pickleball
Do you have a preferred location?
Do you love the desert over the mountains or the beach over the plains? There are so many private communities built upon a designated geographical dimension which many homebuyers look for when making a purchase decision.
The Desert Mountain in Scottsdale, Arizona, Lake Wildwood in Penn Valley, California, Avalon Trail in Delray Beach in Florida, and Hot Springs Village in Arkansas are some of the notable mentions of private communities. Location-based communities can be as-
- Lakefront Homes Communities,
- Marina Communities,
- Mountain Communities,
- Communities Near the Beach,
- Oceanfront Communities,
- Waterfront Communities, etc.
Would you like to earn a good resale value?
Do you want a greater return on your investment? Then it’s a good decision to invest in a private community. The homeowners’ associations in the private home community work for the upkeep of the neighboring houses in the arena, which protects your property and increases property value. Hence, private community homes have a higher market value. If you make an investment in the community, it assures you a greater payback in the long term.
At one point, some factors might make you think a private community is not your cup of tea- if you don’t like paying high HOA fees, don’t want to spend more on a private property since it’s your first-time investment, and/or the restrictions & rules seem overwhelming to you. But your investment is worth it if the above inquisitions have a positive nod from you.