If you are looking for community, sustainability, and liveability, then a land development might be a good option.

A wide range of households can benefit from new estates, including first-home buyers who want to be able to buy a home; upgraders looking for more space to move; downsizers who are looking to live a low-maintenance lifestyle.

These are six benefits to buying land in a new development.

1. Community spirit

Khurram Saeed, cofounder of Resi Ventures, a Melbourne-based land developer, said, “A new estate provides a strong sense community.”

“Everyone is new to this estate and shares the same goals of buying their dream home. It doesn’t matter if they are first-time or second home buyers. It creates a community where everyone looks out for one another and the wellbeing of the estate.

Stephanie Mackenzie, Stockland’s General Manager – Communities Sales, said new developments attracted a community of new residents which helped build authentic grassroots networks.

She stated that it is not unusual for residents to host activities such as outdoor movie nights or outdoor exercise.

2. Design and amenities thought-provoking

Many households consider easy access to shopping centres, public transport and schools a top priority. Therefore, estates are designed with great care to provide the amenities residents desire.

Nigel Satterley, chief executive of Satterley, stated that the land development market is highly competitive. He added that developers are constantly looking for ways to improve their designs and attract new buyers over their competitors.

“This means that new developments must be strategically located, well-designed, and have plenty of parks and amenities in order to succeed.

3. Affordability

A new land development’s affordability is one of the best aspects. A new estate allows you to customize your home to meet your needs at a lower price than buying an existing property.

Mr Satterley stated that the potential greatest advantage to buying in a suburb is its affordability, which is a significant benefit compared with inner-city areas.

This comparative affordability can lead to greater capital growth benefits in the long-term, as your land appreciates over time at an even higher rate. With the current record low interest rate, many Australians are now interested in buying new suburbs.

Ms Mackenzie said many new developments offered multiple housing options that suited a variety of budgets.

She explained that you have two options: either buy the land and hire your own builder to personalize your home to fit your needs and budget, or you can choose one of a variety of packages including pre-designed features and designs at pre-set prices.

A number of government programs, including stamp duty concessions for first-home buyers, can make buying or building a home in new developments more affordable.

According to Mr Saeed, budget-conscious buyers often seek out new developments.

He said that the budget is more flexible and there are many affordable options available for homebuyers, including different home designs and sizes.

Plus, there may be a gap of six months between when land goes up for sale and when a deposit is made. This can allow the purchaser to save time. This allows the buyer to save more time.

4. Liveability

Many people spend more time at home because of flexible working arrangements.

For a healthy lifestyle, open space, parks, and playgrounds are becoming more important.

“Parks and recreation areas, including walking and biking paths, are an important part of building connected communities because they provide spaces for people to relax, exercise and catch up with friends and neighbours. They also allow children to play.” said Mr Satterley.

Ms Mackenzie said new land developments should cater for residents in all stages of life, and also consider their changing needs.

Ms Mackenzie stated that master-planned developments or new land developments are designed with a clear vision for the needs and wants of the community.

She stated that open green spaces, walking and biking paths, parks, and other sporting facilities are all key to improving the quality of life.