Opting for a new construction home has many benefits, not limited to customized interiors, new plumbing and electric, energy-efficiency and technological advancements. Another lesser obvious upside to choosing a new construction home is flexibility of location. Many new construction communities lie just outside of major cities across the U.S. – allowing for relaxation and privacy without comprising convenience.
In the Cincinnati area, M/I Homes builds and sells new construction homes in fourteen different neighborhoods, creating an array of options for homebuyers looking for a move-in ready or customized home-buying experiences. If you’re considering buying a home near Cincinnati, look at Hamilton, Deerfield and Mason, three northern Cincy suburbs great for homebuyers who prefer proximity to downtown without the stress of high-rise living.
Home to one of Miami University’s regional campuses, the city of Hamilton is part of the Cincinnati metropolitan area and encompasses over 60,000 residents. The new construction community of Rivercrest within Hamilton offers 132 acres of freshly-built residences. Rivercrest overlooks the Little Miami River, creating an environment so serene it’s hard to believe the Queen City is only 30 miles away. Prices for new construction properties in Rivercrest range from $335,995 to $473,674 with sizes large enough to accommodate big families – some over 5,400 square feet. Comparatively, buyers searching for homes in Hamilton, both new and previously owned, face a median list price of $159,900 with a median sale price of $135,925. Although the median list price for homes in Hamilton are less than new construction Rivercrest homes, home values in Hamilton (including Rivercrest) increased 4.2 percent in the last year. Rivercrest buyers can expect their home values to rise another 2.4 percent in 2015, congruent to the surrounding local market. With more money down, new construction buyers in Rivercrest are likely to face large returns – and a more satisfying, comfortable home in the meantime.
New construction homes in Roberts Park range from $402,990 to $627,032 and vary from around 2,500 to almost 6,000 square feet per single-family property. And, with the purchase of a new property in this community, you also are granted social member status at the Four Bridges Country Club, which includes gym, clubhouse, tennis courts, kiddie pools and golf course amenities. The median home value in Deerfield as a whole is $129,200, which represents a 5.2 percent increase in the past year. Zillow economists expect all Deerfield homes to rise in value another 2.7 percent in the coming year. Although new construction homes in Deerfield are more expensive than their counterparts in greater Hamilton, the local market is strong enough to provide substantial returns in the future. Families are especially drawn to Deerfield Township and Roberts Park due to it being located in the Mason City School District, one of Ohio’s best.
Mason was rated the 7th best place to live in the nation by Money Magazine, which could be why it’s the most expensive suburb on this list. Like Deerfield Township, Mason residents benefit from the Mason City School District. Generally, homes in Mason are valued at a median price of $228,500, representing a 2.5 percent increase since last year. Much like the other cities in the Cincinnati metro region, home values are expected to rise another 2.3 percent in 2015. The median list price is much higher than the median value, hovering around $330,000. Although prices in Mason seem out of reach, Alverta offers moderately-priced homes between $351,495 and $481,896. And, Alverta supplies residents with an 8-acre community park, ponds and gardens to enjoy the warm Cincy summers.
Although list prices, for the most part, are higher for new construction homes than the median prices of their respective locales, new construction offers many upsides. From customizing your home to perfectly fit your family to evading costly maintenance for dated plumbing and electric, new homes in Cincinnati are hard to beat.
** Jennifer Riner writes about rentals, home improvement and design for Zillow.