As Montana Master-Planned Communities take shape, people have started asking us: what is a master-planned community? How does that work?
Master-planned communities are large residential developments that offer residents a lot of different housing types and amenities. It’s different from a traditional subdivision in that it’s really selling a lifestyle that comes with the property you buy.
But how does that work?
Typically, a developer purchases a large piece of land and segments it into areas for different types of development. Maybe that means townhomes, single-family homes, a community center, and a commercial area.
Once a plan is finalized, developers sell off parcels to builders who specialize in each use. And, usually, these communities are built in phases. Most of the time they build out from the lowest density to the highest density, finishing out with commercial uses as the newly built homes are needed to support the retail and office uses.
Master-Planned Communities in Montana
Pros to Montana Master-Planned Communities
Homes in master-planned communities tend to hold their value quite well. Residents usually flock to a community with walkable amenities and retail. Additionally, master-planned communities allow for multigenerational living. Younger professionals can find apartments and townhomes, families can find a single-family house with yard space and empty nesters can move into a lower maintenance home. As a result, communities become more diverse.
Cons to Master-Planned Communities
But, building out a master-planned community with open space, generous sidewalks, custom signage, amenities like pools, parks, and clubhouses, and landscaping, adds to the cost of the homes. In general, homes in master-planned communities sell at a 10% premium over houses in traditional subdivisions.
And finally, while there is a diversity of age and household type within a master-planned community, economic diversity is often non-existent.
The housing is highly desirable but can also be pretty pricey. For more info on these communities in Montana, contact Nick Chaussee.