What are the pros and cons of buying a new home in a newly developed area verses a mature neighbourhood?
There are pros and cons to both new neighbourhoods and mature neighbourhoods. A newer neighbourhood will have more up-to-date services like water, power and cell towers, cheaper lot prices and will often be nearer to newer schools or major arterial roads. You also have architectural controls in place to ensure everyone adheres to the same rules with the building style and avoids repetition with colours. Typically, newer neighbourhoods are also ‘safer’ than those closer to the downtown core. However, they tend to be further from the city center so that can mean longer commutes to work, living a little further from the night-life or having to travel further to get to stores and amenities. You also miss out on mature landscaping as it takes time for that to develop/
A mature neighbourhood is usually in a more central area and will have more established trees and landscaping. You generally also have more freedom when it comes to the design of your home, as they usually have no (or fewer) architectural controls. A more mature neighbourhood also usually has an established culture within the community. However, the trade-offs are they can be more densely populated (which also usually means higher crime rates), which can mean more traffic congestion, they’ll be further away from the newer amenities and property prices can be more expensive.
Learn More: The Best Neighbourhoods in Edmonton