A business that has been running for a long time is ordinarily preferred that the new unknown ventures. This is because as time goes, businesses build trust among its customers. Also, there is a better understanding of the consumer’s needs and preferences. This too applies to estates. When an estate has been established for more than 20 years, it is deemed a mature estate. On the other hand, developing estates are considered non-mature. For a better understanding, we will look at the various feature that different mature and non-mature estates.
Benefits of Living in a Mature Estate
In the mature estate, the neighbourhood is mature and well established. Also, mature malls have a lot of amenities such as malls, supermarkets, schools, healthcare centres, playing grounds and parking lots. Parc Clematis is located right in the mature estate of Clementi and therefore there will be many amenities located near to the development for your consideration.
Homes in mature homes are certainly more expensive than in non-mature estates. In most cases, the price in a mature estate is about 10 to 15 per cent higher than in non-mature estates. More so, where land is relatively cheaper in mature homes, the land is limited in quantity and can only accommodate small property.
Potential Price Increase for Property Prices in Mature Estate
The potential for an increase in price. Mature estates are established and have little space, if any, for development. However, in non-mature estates, there is enough space to invest on. Considering the price is relatively low, most investors embark on establishing businesses in the area. Although the population is relatively low at first, the estates grow gradually. Soon, the population increases, therefore increasing the demand for more businesses. This demand leads to a rise in prices.
There are very high chances of incorporating urban landscaping for development in the non-mature estates. Conversely, it is almost impossible to convert the development strategies in mature estates to urban landscape since they are already developed in a particular model.
Mature Estates Comes with Schools and Amenities
Mature estates have multiple schools with appropriate facilities. This can be explained by the amenities in the mature estates and the fact that schools are one of the first priorities. More so, mature estates have renowned schools compared to those in non-mature estates.
The choice of the estate is merely determined by these features. For instance, non-mature estates are more preferred considering the availability of spacious land and the corresponding price. Consequently, mature estates are suitable for families with children or the dating couple.
Investors would prefer non-mature estates due to the availability of cheap land. Additionally, development is relatively cheaper in non-mature estates, meaning there will be low input. A business in the non-mature estate has the opportunity to grow gradually and as the population and the overall growth rate increase, the profit margins also increase.