Canada is unique. Apart from being the true north of developed nations, it has some of the best freshwater reserves in large amounts, is a developed economy, and has some of the most expensive real estate on this planet.
When it comes to Toronto, it is indeed a different city. Now it has become mainstream. The thing that made Toronto is its urban planning aspect of mixing apartment buildings in residential lots to curb urban and suburban sprawl. Yet, the city and its metropolitan area (Greater Toronto Area) do not lack in terms of master-planned communities.
Canada has master-planned communities in each town and city. Among them are Ajax Brampton, Burnaby, Calgary, Edmonton, Halifax, Hamilton, Montreal, Ottawa, Regina, Richmond, Saskatoon, Surrey, Toronto, Vancouver, and Winnipeg.
Large metropolitan areas of Toronto and Vancouver are abundant with master-planned communities. One of the main reasons they are present is that they bring a greater return on investment (ROI) made, are quite popular, have a convenient location and the loads of amenities they bring in are some of the best reasons why investment in a master-planned community is beneficial.
Hence, let us now explore what master-planned communities are and for what reasons are they worthwhile investments.
A master-planned community – what is it?
A master-planned community is a large-scale residential development having a considerable number of recreational and commercial amenities. These communities are planned strategically and located in the right places, making them feasible and long-term projects. They are made in multiple phases.
Master-planned communities are made to gentrify under-utilized urban areas. Homes that are designed around the community ensure that residents have easy access to daily essentials.
It takes years for a master-planned to be completely developed and reach its complete potential. This makes it a worthwhile long-term investment. Once it is completely developed, residents will have a private community with its shops and restaurants for residents to make good use of.
Here are some reasons people should consider investing in a master-planned community:
A good return on investment
Developers of a master-planned community have full control of the supply and demand in the project. This itself is a key advantage when it comes to building more of the community and accommodating residents
When an investor purchases properties in the community earlier than others, they have a better chance of developing a good price for it. Prices in a master-planned community continue to appreciate as the infrastructure is built out completely.
Investing in a master-planned community is a long-term solid investment. Why? Because developers often charge more for each building in each phase. However, only a handful of such developments have a condo complex. But they do have low-rise condo townhouses and homes.
Buying in the early stages of development helps ensure that by the time the project is complete, those who bought residential units in the late stages will pay higher prices. This indicates the property prices appreciate in time in master-planned communities.
They are becoming quite popular
Master-planned communities are always well thought out as they are designed from a strategic viewpoint. Developers acquire a large piece of land, and then plan commercial and residential projects to create the community over time.
These communities are built to have daily necessities at their inconvenience. Master-planned communities are becoming quite popular for families as the low-rise single-family market is the highest in almost two decades.
These communities have convenient locations
When people buy a residential property, location is an important factor that is taken into prime consideration. Why? Because the price is directly affected by where it is present. Master-planned communities are designed in a way ensuring residents have everything at their doorstep, such as:
- Shopping centers.
Moreover, office spaces and buildings are present near them helping residents live, work, play, and shop at a minimal distance from their homes.
Convenient access to amenities
These communities often are centered around unique amenities offered or their residents. Moreover, they also are planned near existing amenities to give their residents access to more without having to pay an extra amount of money. Other than that, these communities provide their residents a good standard of convenient living.
Numerous master-planned communities are currently under development in the Greater Toronto Area (GTA), and more are being planned on a sustainable footing. Cities like Edmonton, Calgary, Vancouver, and Montreal are following suit.
With these communities proving themselves to be a good investment, residents should act smart and make an investment move by buying a home in these developments. There are many mobile app development companies that are building great real estate apps to help users make smarter and wiser decisions about their investments. They can also consult their trusted real estate agents in this regard.