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5 Reasons to Buy a Home in an Up-and-Coming Neighborhood

Homebuyers in North Texas typically look for homes in the best neighborhoods around. However, searching for a home in only the tried and true “best” neighborhoods can cause you to miss out on some great new home communities. These up-and-coming neighborhoods typically have many advantages over older, traditional communities, such as sustainably built, new construction homes, great schools, a lower cost of living, and a diverse array of amenities for residents to enjoy.

Buying a house in an up-and-coming neighborhood can be a great move for you and your family. Let’s go over the benefits of living in one of these fast-growing new home communities and discuss how to spot the signs of an up-and-coming neighborhood.

Common Questions About Up-and-Coming Neighborhoods

First, let’s clear up some of the most commonly asked questions about up-and-coming neighborhoods.

What is an up-and-coming neighborhood?

An up-and-coming neighborhood is a new suburban development that hasn’t become completely established yet. It’s still growing, making it an excellent place to put down roots for homeowners looking to get a lot of home for their money.

How do you spot up-and-coming areas?

When looking for the signs of an up-and-coming neighborhood, look for areas experiencing a lot of new growth.  The population will be increasing, perhaps because of increased job opportunities in the area. These areas are often part of large metropolitan areas that are popular destinations for corporate relocations.  Up-and-coming areas usually have many new homes under construction.

How important is the neighborhood when buying a house?

The neighborhood the home is in is important, or very important, to most people. According to a 2020 study by NAR, 62% of all homebuyers consider the quality of the neighborhood when making a purchasing decision.

Why is location important when buying a house?

Location is important because you’re not only investing in the house itself, but also the neighborhood. It just makes sense to choose a neighborhood based on if it will be an ideal place for you to live, and if you will have convenient access to work, shopping, medical care, and good school systems.  In addition to these considerations, the location of a home also affects the amenities you will have access to.  Some up-and-coming neighborhoods, like Lilyana by Hillwood in Celina, TX within Prosper ISD, offer an array of amenities for homeowners right within the community.

5 Advantages of Up-and-Coming Neighborhoods

Buying a house in an up-and-coming community can offer many advantages over moving to a more established, traditional neighborhood. The advantages you can typically see include:

1. Potential for Growth

First, the hallmark of an up-and-coming neighborhood is the fact that it’s still growing. That makes it a great investment opportunity since your home’s value is likely to grow with the community. The price you pay now for a home in one of these neighborhoods is likely to be lower than what you might pay ten years from now.

2. Proximity to the City

New neighborhoods tend to develop around city centers, and as a result, they are usually conveniently located to many of the amenities that large cities offer, such as shopping, entertainment and career opportunities. That means less time commuting and more time living life to its fullest!

3. New Businesses, New Opportunities

With the population growth that often accompanies up-and-coming communities, businesses will naturally be drawn to the area as well. That means more economic opportunity in the form of jobs, shopping, dining, and so forth.

4. Great Schools

As schools improve in an area, you’ll usually see more families move in, which can increase demand in the area and preserve home values. That helps solidify an up-and-coming community’s growth, meaning these neighborhoods are usually located within highly rated school systems.

5. A Strong Sense of Community

Finally, moving into an up-and-coming neighborhood is a great way to be part of the community. Rather than joining a neighborhood that has already been well established with its own culture and norms, you can help build the community as one of its integral members.

These neighborhoods also make great efforts to involve and welcome people through fantastic amenities, resident events, and thoughtful community layouts designed to encourage chance encounters with neighbors and friends.

Up-and-Coming Celina, Texas

When it comes to up-and-coming communities, Celina is the fastest growing city in North Texas with a population of over 30,000 people. That figure is nearly triple what it was in 2010, and it’s likely to keep rising in coming years.

Located just 10 miles north of Frisco, one of the most exciting cities in the Dallas-Fort Worth metroplex, Celina’s future looks bright. With its small-town charm, attractive incentives for small businesses, great schools, and wonderful new home communities like Lilyana by Hillwood, Celina is perfectly positioned for continued growth.

If you’re looking at buying a new construction home in an up-and-coming neighborhood, Lilyana in Celina, Texas fits the bill perfectly. Situated in the acclaimed Prosper Independent School District and in easy reach of lots of amenities—many of which are on-site—Lilyana is the perfect place to settle down and help build a thriving community. Take a virtual tour to see what Lilyana by Hillwood is all about or get in touch with us today for more information.