| People buying homes want that perfect place. In order | | | | neighborhood where the value of their purchase will go |
| to get the that perfect home they hunt around in the | | | | up sharply. The people that bought the single homes, |
| areas that most interest them. Some of these people | | | | there value may go down because of these cheaper, |
| are looking for an already lived in home. Some are | | | | less desirable downscaled places that are being built. |
| looking for new construction. Some end up in an | | | | The prices will level out eventually. The single home |
| already lived in home in a development that is still being | | | | owners will be the ones to suffer. |
| built. | | | | How can you avoid this happening to yourself? |
| Once you decide that the new development is for you, | | | | The first thing to do is open your mouth and ask the |
| things move forward. You put down your hard earned | | | | developer. Ask him what the plans for the later stages |
| money. You bask in your decision to move in to an | | | | and phases of construction are. The different stages |
| upscale neighborhood where the property values will | | | | and phases are usually all planned out before any |
| remain the same and eventually go up. You move in, | | | | building even begins. |
| watching every day the new homes being built. Your | | | | There is still a danger though. The housing market can |
| neighborhood grows with beautiful homes that are | | | | change during the construction of a new neighborhood. |
| absolutely gorgeous. | | | | You may have moved into a single home there. The |
| One day you come home from work and notice | | | | sales of single homes may have died. So the |
| something strange as you drive through your | | | | developer changes his plans. Instead of completing the |
| development. You see a new home going up. This | | | | construction as planned, he instead builds townhouses, |
| new home looks like a stick compared to yours and | | | | condos or even apartments. |
| the rest in the development. The next few days you | | | | The second thing you can do to try and determine if |
| notice the stick has gotten longer. It looks like there are | | | | less desirable housing can or will be built is to look into |
| 5 doors in the front to this newly constructed home. | | | | the legal part. Educate yourself and see if there are |
| Then it hits you. It is not a single home, it is a series of | | | | any legal restrictions on what can and can not be built |
| townhouses or to put it more bluntly, row homes. | | | | where you are. Is there a law where you are that |
| This may or may not have happened to you. If it has, I | | | | says the builder can not change his plans? Is there a |
| can just imagine how upset you would be. If this has | | | | law that limits the number of dwellings in defined |
| not happened to you, there is a way to avoid this. | | | | amount of space? |
| You thought you were moving in to an upscale | | | | The bottom line is this. Do not listen to what the sales |
| neighborhood. You were fooled by the builder. When | | | | staff tells you. They are trying to sell homes. What |
| doing new construction and the plans are to build a | | | | they tell you at the time be true, but things can change. |
| variety of new houses, the builder will most likely build | | | | You may have seen a brochure with a beautiful |
| all the bigger, more expensive and upscale homes first. | | | | picture of how the neighborhood will look. That can |
| This will give the impression that the development will | | | | change. Do not be fooled. |
| high class area. This draws the people in that want the | | | | First ask your builder what the plans are for the |
| big homes. Once these single homes are sold, the | | | | development. Then do some research and see if the |
| builder then starts on the row homes or condos that | | | | builder can legally change the plans and put some |
| are going to be built. Now the people that are going to | | | | other type of housing in there. By doing this you may |
| buy these row homes and condos see a very upscale | | | | save yourself from a lot of disappointment. |