John Henry’s New Construction & Its Impact on Our Existing Homes In the Maineville Providence Neighborhoods
We’ve all seen the signs—John Henry Homes is coming to our Providence neighborhood, and naturally, there are questions. The biggest one? How will this affect our home values? Let’s break it down.
What You Might Not Know
The lots at the back of the neighborhood won’t be part of the Providence Owners and Association (PoA) Homeowners Association. Instead, they’ll belong to Village on the Green. Even though they connect to Eagle Blvd, they aren’t under PoA’s jurisdiction, meaning our HOA won’t have any say over these properties.
The good news is that these homes won’t have access to PoA amenities, funds or resources so there won’t be any added strain on the budget, the pool, playground, or other shared spaces.
What Kind of Homes Are Being Built?
Image Credit: from John Henry Homes Website August II Design
John Henry Homes is developing 27 lots ranging from 0.186 to 0.7667 acres. Pricing will vary based on lot size and location. Marketing for these lots hasn’t started yet since they still have available lots in Wellington Estates and Turning Leaf, both in the Maineville Little Miami School District.
Infrastructure is already in place, so expect to see construction equipment moving through the neighborhood regularly over the next several years. One standout feature of these homes is that basements will be included as a standard, offering extra storage, additional living space, and, in some cases, walk-out options.
How These Homes Compare
Image Credit: John Henry Homes Website Saratoga II Design
The smallest homes will start in the low $400,000s, with upgraded models surpassing $500,000. I would be hard pressed to say that any of these homes would exceed the $600,000 mark at this point.
For comparison:
Fischer Homes Blair model with 2,636 square feet and an unfinished basement on Eagle Ct recently listed for $525,000 sold for $522,500 after just one day on the market.
The Fischer Home ranch on Soaring Way with 1,868sqf with a full finished basement just sold for $550,000. As you all know this one took a while and is heavily upgraded so I consider this one a bit of an outlier.
The closest John Henry equivalent to the Fischer Homes Blair model, the Colorado Covina model with 2,626 square feet and an unfinished basement, starts at $461,900, but with upgrades, it will likely exceed $500,000. (Most new construction home buyers typically purchase at least a few upgraded packages and upgrade a few areas of the home during the design process).
Just across the street, Wellington Estates offers similar homes within the Little Miami School District. Their ready-built homes, around 1,600 square feet, range from $409,000 to $415,000.
What This Means for Home Prices and Inventory
Even though these new homes won’t be part of our HOA, they will impact home values by influencing market comparables and inventory levels.
Right now, our neighborhood remains in high demand, with only two active listings and five pending sales, including all of Providence and Wellington Estates of the date of this blog.
John Henry won’t be building all of these homes at once. Construction will be gradual, likely spanning several years. Like other new construction builders in Cincinnati, they carefully control inventory to avoid saturating the market.
Builders also have the advantage of time. Unlike homeowners who may need to sell quickly due to job relocations or personal timelines, they can afford to wait for the right buyer rather than lowering prices. If you’re interested in how builders price their homes, check out my article, “The Science and Strategy Behind New Construction.”
New vs. Existing Homes
Buyers are often drawn to new construction for its modern features, brand-new systems, and lower maintenance concerns. Homes in Providence date back as far as 2013, which means some buyers will weigh the cost of updating an older home against purchasing a new one.
For homes built in the last five years, there will be more direct competition with these new builds. However, well-maintained homes with recent upgrades will still hold strong value in the market.
If a buyer is choosing between a new construction home and an existing home at the same price, chances are they’ll opt for new construction. That’s why pricing strategically—often just below new construction—can be key. There are also ways to add value that can make an existing home more attractive without dropping the price. If you’re thinking about selling, take a look at my article, 9 Tips for a Stress Free Spring Cleaning.
If You’re Thinking About Selling
Now is a good time to prepare if you’re considering selling your home. Small improvements can make a big difference, and most of them won’t break the bank.
Getting a pre-listing inspection is a smart move since it allows you to address potential buyer concerns before they become an issue. Touching up baseboards, walls, and caulking, along with cleaning carpets and refreshing landscaping, can also help make your home stand out. Fresh mulch and some colorful flowers add instant curb appeal, making your home more inviting to buyers.
New construction is coming, but it’s not necessarily a bad thing
More homes mean more inventory and increased interest in the area. Having a Realtor who tracks local trends can help you navigate any shifts in home values as they happen.
Builder pricing is always subject to change. Just like Realtors, builders adjust their pricing based on market conditions, so if trends shift, they’ll react accordingly. If you have any questions about how this might impact your home’s value or if you’re thinking of selling before John Henry begins construction, let’s chat.
If you’d like current pricing for John Henry Homes or details on their plot designs, send me an email, and I’ll get that information over to you.
It may seem like times are a bit crazy (and maybe they are). Good thing I specialize in helping buyers and sellers cut through the clutter and misinformation to deliver the most enjoyable, stress-free real estate experience imaginable.
