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  • [Pros and Cons] of New Construction Homes in Arcadia

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    As we close out 2017, the consumer trend is favoring new construction homes. A new construction home will reflect the current trends in color, style, floor plans and overall desires of what buyers are looking for. More importantly, the new construction homes in Arcadia are big enough for the couple or growing families who live in them. If a buyer purchases a home while it is still being built, they most likely will have a say in the materials being used and colors for the finishing phases of the house. This would be considered semi custom.

    When looking at a neighborhood like Arcadia, the homes were built in the 1950's and 1960's which does not reflect the needs of buyers today. We have a need to live in a home with vaulted ceilings, a large island in the middle of the kitchen, large walk in closets (even his and hers closets!), a pool, a large walk in shower, a separate Jacuzzi or soaking tub and a house with an open floor plan because we want something that is perfect for entertaining. That is not what houses built in the 1950's and 1960's are equipped with.

    As every buyer learns very quickly, each house has a compromise. Nothing is perfect. Arcadia is hot, hot, hot! Remodeled homes and new construction homes in Arcadia are hot, hot, hot because everyone wants to be apart of the growing trend to nest in Arcadia, but no one likes that the original, charming Arcadia ranch homes are small. If the buyers are not willing to conduct a remodel (regardless of the size) then the next best option is to buy a new construction home.

    Open houses are where I hear the most feedback. Even if I am holding a huge, beautiful house open that is top of the line quality with a price tag of over $2,000,000.00 yet everything is brown, people tell me how dated it is. That seems to be the only thing they notice and simply can not get past that. They want to paint everything to a lighter color, replace the kitchen cabinets so they are white, remove the Travertine floor and lay down a light wood color in its place. If the house is a Mediterranean style then the house should be appreciated as such. It clearly was not meant to be a farm house. Transforming it from Mediterranean to a rustic farm house would take a heck of a lot of work!

    The exact opposite happens when I hold open houses at my listings that are new construction homes. These have white kitchens, brick on the outside, ship lap on the walls and gray paint, the only thing I hear is how beautiful it is. People would be willing to buy these new construction homes even if it is too big, too small or out of their price range. This light, bright, clean and airy style appeals to the majority of consumers. It is always “exactly what they are looking for” when it comes to looks, style and materials. Then that leaves us with the floor plan, size, the price tag and if there is a pool or not.

    As you can see, when you combine the right style of house with the best location, there is no doubt an explosion of demand. Arcadia is, has been and will continue to hit the nail on the head. Investors can not flip these new construction homes fast enough. Between the gorgeous curb appeal these houses have of white paint with brick, grass, rustic farm house hardware and light fixtures, front patios and two car garages to the inside which has vaulted ceilings, all white everything with a splash of gray, a huge island, an open floor plan, no carpet and subway tile, new construction homes are irresistible and in high, high demand.

    Pros and Cons of New Construction Homes

    There are pros and cons to purchasing a new construction home. The one obvious plus is that a new construction home has never been lived in. For those germaphobes out there, this is the best news in the world. These homes are also not in need of any house or yard maintenance any time soon which is part of the reason the price is a little higher than a resale home. They will be more energy efficient homes and, again, reflect a style and floor plan that will be more fitting for current buyers.

    For those who are wanting a great investment, this might not be the way to go. The buyers do end up paying more for a new construction home since it is move in ready. When it comes time for you to sell, you may have an advantage since the house will be newer and check more boxes for buyers than older homes. The question now becomes, “Can you get your money out of it?” and no one will know until the time comes.

    Although it is brand new and you can potentially have your choice of what color palette you want, you can not go back and redesign the floor plan. Last but not least, these homes, particularly in Arcadia, tend not to have large backyards and may have that right on top of each other feel. The large house footprint is on a smaller lot. There is the compromise again! An incredible house that matches your exact requirements but it lacks a backyard. The struggle is real.

    Keep in mind that these new construction homes and subdivisions have upgrades which will add up fast. Being mindful of the extra add-on's will cut back on the cost of your brand new home. Not to discourage you, but I have witnessed clients agree to many more upgrades than they were intending and realized after the fact that many were unnecessary. I completely remodeled my own home so I understand the feeling of getting sucked into making decisions that feel big at the time then you later wonder why such a minor detail felt like the biggest decision on the planet.

    These are just a few things for buyers to consider when house hunting. If you are a project person then a brand new home might not be the right direction for you. If you need as much space as you can get and want a home that is stylish then a brand new home would be something for your to consider. There is no right or wrong here, it is just what is right for you and your family.

    New Construction Homes and Subdivisions in Arcadia

    While Arcadia is known for its charm, brick and heard turning estates, developers are sweeping through Arcadia and creating subdivisions of new construction homes. These new construction homes are filled with everything a buyer could possibly want. Of course each subdivision offers multiple floor plans in addition to quality semi-custom finishes, open floor plans, luxury appliances, either a private or community pool and so much more.

    Some recognizable subdivisions with new construction homes in Arcadia are Novella at Arcadia, The Villas at Baker Park, Manor 38 and The Sycamore . They range from townhouses to two story single family homes and the price varies from a half a million dollars to $1,500,000.00. All include lush, mature landscaping as well.

    Novella at Arcadia
    The new construction homes making up Novella at Arcadia are in the heart of Arcadia. The walkability to all major Arcadia attractions is the major draw to buyers. The well known intersection of 40th Street and Campbell which houses La Grande Orange, Postino and Ingo's is a hop, skip and a jump away. The canal is close by as well if you like to walk your dog, ride your bike or use it to head over to Old Town Scottsdale. 

    Those who live at Novella live in luxury with a community pool, attached two car garage, gourmet kitchens and patios with over sized sliding doors. All units are approximately 1,700 SF, two stories and include nine to eleven foot ceilings, sliding glass doors and patios. The price point is ranges between $460,000.00 and $540,000.00. The monthly HOA is $185.00 which includes garbage collection, front yard maintenance and common area maintenance.
    The Villas at Baker Park
    The Villas at Baker Park has 44 new construction homes set in a resort style community. The semi custom homes in this gated oasis offer luxury appliances, a lap pool, spa and a dog park.When living in this paradise, you will experience a low maintenance lifestyle and feel as if you are living at a high end hotel. Choose from a single story or two story new construction home ranging from 2100 SF to 4850 SF. 

    This spectacular location allows the new residents to bike to the popular Arcadia restaurants, access the canal and drive to Downtown Phoenix in a jif. The price point ranges from high $800,000.00's to over $1,000,000.00 and the monthly HOA is $199.00 which includes front yard maintenance, street maintenance and common area maintenance.
    Manor 38
    Manor 38 is a gated community filled with 21 new construction homes that keep the charm of Arcadia while bringing the new modern feel. Complete with brick on the exterior, grass in the front yard, a two car garage and high ceilings, these new construction homes did not miss a thing! Enjoy a short walk to Madison Improvement Club, Dough Bird and Dilly Dally. Buyers have a choice of homes with three, four or five bedrooms and the square footage ranges from 2400 SF-3900 SF. Choose from five different floor plans and elevations then enjoy your single or two story home with an open living space, soaring ceilings and semi custom finishes. The price point ranges from $600,000.00-$850,000.00 and the monthly HOA is $100.00 which includes common area maintenace.
    The Sycamore
    The Sycamore consists of 16 new construction homes that all come standard with a pool, built in BBQ and custom designed front and back landscaping. The homes in this gated community have high ceilings, wood floors and grand master bedrooms. Choose from four floor plans and three styles for your single or two story new construction home ranging from 3,000 SF to 4,200 SF. The price point ranges from $1,200,000.00-$1,500,000.00 and the quarterly HOA is $675.00 which includes common area maintenance and street maintenance.
    The subdivisions I have mentioned here are not the only new construction homes being built in Arcadia. The development Arcadia is seeing of new construction homes and subdivisions is not coming to a halt anytime soon. Developers and investors understand what buyers want and are making it come to life. The demand for new construction homes, farmhouses and an open floor plan in Arcadia is through the roof.

    A Little Tidbit about Property Taxes

    Investors who are scraping original homes one by one have found a way to keep property taxes down. They knock down everything except for one wall which allows the year built to read the original year on the tax record. When investors leave one wall up, the house is still scraped and it is technically a brand new home with the advantage of lower annual property taxes.

    The year built on the tax record will read a newer year if the original house is completely scraped and a new construction home is built. The new construction homes and subdivisions mentioned above are all built recently; therefore, the annual property taxes will be slightly higher.

    Lauren
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