Thursday, October 6, 2022

Buying New Construction in Coronado

Coronado’s growing new construction market often goes overlooked. Known for charming historical architecture reminiscent of the 20s and 30s, the island strives to preserve and maintain the character of the era homes. These houses will always be attractive to buyers, as well as continue to captivate the hearts of visitors and locals alike.

The new construction market would typically slip under the radar. That is, until this year.

Coronado real estate will always have one major challenge; the supply will never meet the demand. With a fixed amount of land and a limited number of well preserved historical homes to charm buyers, new homes are being built to give buyers other options. Many of these homes replace previous homes from the 60s and 70s that fail to meet today’s buyers’ standards.

Today we are seeing a booming new construction market that can’t go unnoticed any longer.

Providing house shoppers with a variety of options, we have an increase in newly constructed condos, long tall narrows as well as single-family residences showing up all over the island. The diversity in home styles also gives buyers different price ranges from which to choose.

If you’re looking to enjoy the luxuries of new construction, here are some of the different options available on the island this year.

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New Condos

Homebuyers now have an alternative to the traditional HOA model when condo shopping in Coronado. Cloud Condos, a new type of ownership, places the responsibility on each owner to maintain their unit and exclusive outdoor space. The condos range from completely detached units with no shared walls to a few units with attached portions. Another advantage of the Cloud Condos comes in the form of increased square footage. The larger ones enjoy up to 2,500 sq feet with the smaller ones offering 1,800 sq feet.

Currently, there are six of these units available for sale ranging from $1.2 million to $3 million.  There will be additional listings coming on the market this year, most of which will be priced modestly between $1.2 million to $1.6 million.

 

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Long Tall Narrows

If you’re new to the island or perhaps aren’t immersed in the real estate market, you might be wondering what is a Long Tall Narrow (LTN) home.

These homes are built on 3,500 sq foot lots, typically 25 feet wide by 140 feet deep. In essence, it is a narrow home that uses height to maximize overall home square footage, giving the basis for the name.

Many cities throughout the country are leveraging this style of home to better use land in areas of high demand. Generous in size as well as incredibly space efficient, these homes are increasing in popularity in Coronado. The ample basement space creates options for homeowners, such as creating an additional family room or bedroom.

 

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Single Family Residences

Coronado doesn’t lack options for traditional single-family residences either. Many of the new listings on the market are either replacing or updating poorly maintained tract homes from the 60s and 70s. The original homes frequently suffered from poor construction practices, limiting their ability to stand the test of time.

Seeing an influx of these types of new construction projects, the face of the Country Club neighborhood has changed drastically over the last few years. The area of small modest homes has grown into a neighborhood of beautifully designed estates. Most listings cater to buyers looking for homes priced at $3.5 million and above.

 

Determining Your Next Home Style

Are you in the market for a new home, or perhaps looking to relocate to the charming island atmosphere of Coronado?

Whether you are eyeing the luxuries of new construction, looking to tap into your inner DIY skills or wanting a seasoned home with lots of character, our team can help you navigate the Coronado market to discover your perfect home.

Contact one of our agents today to discover exactly how charming the Coronado lifestyle actually is.



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