Looking at new construction in Union can feel exciting and overwhelming at the same time. You have choices across price points, lot sizes, and amenities, plus builder contracts and financing that work differently than resale. In this guide, you’ll learn how to compare Union’s most active neighborhoods, what to ask every builder, how financing and appraisals work for new builds, and the simple steps to choose confidently. Let’s dive in.
What’s being built in Union right now
Union offers a mix of master-planned communities, upscale acreage homes, and low‑maintenance townhomes. The city’s neighborhood overview shows active and established communities across the spectrum, so it helps to treat each sub‑section as its own market with unique HOA rules and amenities. You can scan the city’s community list for context at the City of Union neighborhoods page.
- Triple Crown. A large master-planned community centered on a private country club with an 18‑hole course, clubhouse, pools, tennis, and trails. Recent collections in this area often start in the mid $500ks and can move higher based on plan and options. Learn more about the amenity package at the Triple Crown Country Club site.
- Enclave at Courtney Estates (Drees Homes). 1‑acre‑plus home sites with an upscale, move‑up feel. Larger treed lots and custom‑level selections typically price well above the average subdivision. See the community overview on NewHomeSource.
- Traemore (Drees). A popular single‑family neighborhood with multiple plan types and lot sizes, positioned between typical subdivisions and larger-lot options. Check current plans and inventory with the builder.
- Retreat at Union Promenade (Drees townhomes). Attached ranch‑style townhomes near the Union Promenade mixed‑use project. Example listings place many units in the low‑to‑mid $300ks to mid $400ks depending on finishes, with HOA dues published around $245 per month. Review current offerings on NewHomeSource and confirm the latest HOA schedule directly.
- Union Village, Villas at Fowler’s Creek, Lancashire, Hempsteade, and others. These established communities often include resales and occasional infill. They can influence comparable sales that appraisers use for new-build valuations.
Big picture pricing: a recent analysis of Union development shows new single‑family detached homes commonly cluster in the low‑to‑mid $400ks, with a cited median around $434,000. Higher‑amenity master‑plan sections and 1‑acre enclaves price meaningfully above that. If you are comparing communities, use each builder’s current price list and any quick‑move‑in MLS listings to ground your numbers. See the local analysis in the AEI Housing Center’s Union city playbook.
How Union neighborhoods differ
When you compare two new-construction options in Union, focus on these levers:
- Product type and price band. Townhome or single‑family, ranch or two‑story, attached or detached. Base prices are a starting point. Final cost reflects options, lot premiums, landscaping, and finishes. Higher‑amenity collections like parts of Triple Crown often start in the mid $500ks and go up.
- Lot size and setting. Standard subdivision lots compare differently to 1‑acre estate sites. The Enclave at Courtney Estates, for example, highlights 1‑plus‑acre treed lots that change both pricing and design guidelines. See the community positioning on NewHomeSource.
- Amenities and membership. Country club access, pools, trails, playgrounds, and nearby mixed‑use retail all drive HOA structure and appeal. Triple Crown includes a private club and neighborhood amenities described on the club site. The Union Promenade area aims to add walkable retail and services next to townhomes.
- HOA structure and dues. In master plans you may see both a master association and a sub‑association. Townhome sections often have higher monthly dues that cover exterior maintenance and common areas. Example listings for Retreat at Union Promenade show HOA dues near $245 per month, but always confirm the current budget and fee schedule with the builder or HOA manager.
- Total acquisition cost vs. resale comps. Compare base price plus upgrades, lot premiums, HOA dues, landscaping, and taxes to nearby resales, not just to the builder’s base. AEI’s data confirms many new single‑family homes in Union price above county medians, so it pays to price the full package. Review the AEI Union playbook for context.
Match your lifestyle and budget
Start by clarifying how you want to live day to day.
- If you want low‑maintenance living near shops and services, look at townhome options near Union Promenade.
- If you value amenities like a clubhouse, pools, and tennis, consider master‑planned sections in and around Triple Crown.
- If privacy and space are top priorities, explore larger 1‑acre sites in enclaves like Courtney Estates.
Then, layer in budget and timeline. Decide how much you want to invest in finishes and outdoor work. Ask the builder for a complete price sheet and typical upgrade ranges. Finally, check your move date. If you need to be in within a few months, a quick‑move‑in or near‑complete spec may fit better than a from‑scratch build.
Vetting builders with confidence
Builder credibility checklist
Use this quick framework before you sign:
- Confirm identity, local office, and years active in Northern Kentucky. Ask for references of homes delivered 2 to 5 years ago in the same subdivision. Many reputable builders enroll homes in insured 1‑2‑10 style structural warranties. You can learn how these programs work on the 2‑10 site’s builder coverage page.
- Review public records and local reporting for rezoning or community issues that might affect timelines or reputation. For example, follow planning coverage like the proposed Union Landing in LINK nky’s development report.
- If you plan to use FHA or VA, confirm the builder can meet documentation and inspection requirements. HUD’s guidance outlines forms and warranties used with these loans, including the HUD‑92544 warranty in this HUD mortgagee letter.
Model home vs. base: what to watch
Model homes are showpieces. Many finishes you see are optional. Ask for:
- A signed base price sheet for your plan and lot.
- A full upgrade list with pricing and allowances.
- Deadlines for design selections and change orders.
Large mid‑build changes can outpace the appraised “as‑completed” value, which caps lender financing. Before you lock major upgrades, talk with your lender about how the appraisal will account for your plan and specs. Freddie Mac’s construction fact sheet explains the as‑completed approach in plain terms. Review the Freddie Mac guide.
Warranties and inspections
Most new homes include a 1‑year workmanship warranty, 2‑year systems coverage, and a 10‑year structural policy administered by a third‑party company. Read the exclusions and claims process. During the build, schedule independent inspections at pre‑drywall and final walkthrough. If you are using agency financing, certain inspections and completion documentation are standard. See HUD’s overview of new‑construction requirements in this guidance.
Financing new construction in Union
Financing a new build works differently than buying a resale. Get clarity early so your timeline and budget stay on track.
Common loan types
- Construction‑to‑permanent (one‑time close). One closing covers construction draws and then converts to your long‑term mortgage. The benefit is one set of closing costs and potential early rate lock. Fewer lenders offer competitive one‑time close options, so comparison shopping matters. See a national overview of construction loans from CNBC Select.
- Construction‑only (two‑time close). A short‑term construction loan followed by a separate permanent mortgage at completion. This can offer flexibility later, but you pay two sets of closing costs and must re‑qualify.
- FHA and VA construction options. These programs allow construction financing with specific documentation, warranties, and inspections. Not all builders or lenders participate, so confirm early. HUD summarizes requirements in the same new‑construction guidance.
Appraisals and value risk
Lenders require an “as‑completed” appraisal based on your plans, specs, and comparable new homes. The appraisal effectively sets the ceiling for loan amount. If your upgrades push the cost above the appraised value, you will need to bring extra cash or reduce scope. Ask your lender how they handle appraisal updates if plans change. For a concise explainer, see Freddie Mac’s construction fact sheet.
Draws, inspections, and incentives
Construction funds are paid in draws after progress inspections. Expect the lender to hold a small retainage until final completion and lien releases. Keep copies of invoices, change orders, and lien waivers to smooth each draw. Builders sometimes offer closing cost credits or temporary rate buydowns with a preferred lender. These can be valuable, but compare offers side by side and confirm how credits apply under your loan program, as noted in CNBC Select’s overview.
HOAs, taxes, and the true monthly number
Your monthly number includes principal, interest, taxes, insurance, and any HOA dues. Townhome sections with exterior maintenance typically have higher monthly dues than single‑family neighborhoods. Ask for the latest HOA budget, reserve study, and meeting minutes so you understand planned projects and fees.
For property taxes, use the Boone County PVA to look up assessments and estimate bills based on current rates and exemptions. This helps you compare neighborhoods on an apples‑to‑apples basis. Start with the Boone PVA site.
Your step‑by‑step checklist
Before you tour
- Get a written pre‑approval with a lender that offers construction or as‑completed appraisal financing if you plan to build.
- Outline your must‑haves: product type, lot size, HOA appetite, timeline, and budget for upgrades.
When you choose a community
- Request the price sheet, lot map with premiums, standard features list, sample contract, and warranty documents.
- Ask for the current HOA disclosure package. Review dues, rules, budget, reserves, and any pending special assessments.
During selections and construction
- Set design deadlines and document change orders in writing. Price large upgrades against the expected appraised as‑completed value.
- Schedule independent inspections at pre‑drywall and final walkthrough. Keep a punch‑list and confirm fix timelines in writing.
At closing and in year one
- Confirm HOA move‑in or transfer fees and recurring payment schedule.
- Save warranty contacts, system manuals, and your builder’s service portal logins. Track key dates for coverage.
Putting it all together
If you want low‑maintenance living near walkable retail, townhomes by Union Promenade may be your best fit. If you want a full amenity package and neighborhood events, master‑planned sections in and around Triple Crown are standouts. If you want space, privacy, and custom finishes, 1‑acre enclaves like Courtney Estates offer the canvas. Compare total cost, HOA scope, and financing shape across your short list. A clear plan will help you pick the Union neighborhood that fits your life for years to come.
Ready to tour new builds, review contracts, and run true monthly numbers together? Connect with Megan Stacey for a friendly, expert plan tailored to your move.
FAQs
What price ranges should I expect for new homes in Union, KY?
- A recent analysis shows many new single‑family detached homes cluster in the low‑to‑mid $400ks with a median around $434,000, while master‑planned sections and 1‑acre enclaves price higher; always confirm current builder pricing and quick‑move‑in listings using the AEI Union playbook.
How do HOAs affect my monthly payment in Union neighborhoods?
- HOAs add to your monthly costs and vary by community; townhome sections often have higher monthly dues for exterior maintenance, while single‑family master plans may include both master and sub‑association fees—request the latest HOA budget and fee schedule before you commit.
What makes Triple Crown different from other Union communities?
- Triple Crown pairs single‑family living with a private country club, pools, tennis, trails, and neighborhood amenities, which shape both lifestyle and HOA structure; you can review the amenity overview at the club site.
How does an “as‑completed” appraisal work for a new build?
- The lender orders an appraisal based on your plans and specs and compares to similar new homes; that value caps the loan amount, so heavy upgrades can require extra cash unless supported—see Freddie Mac’s construction fact sheet for details.
What loan types are common for new construction in Union?
- Buyers often use construction‑to‑permanent loans for a single closing or construction‑only loans followed by a permanent mortgage; FHA and VA construction options exist with added documentation, summarized by CNBC Select and HUD’s new‑construction guidance.
Are there new developments that could change traffic or supply near Union?
- Yes, rezoning and subdivision proposals appear regularly; for example, the Union Landing proposal has been covered by local media, so it is smart to follow planning updates like LINK nky’s report when you compare locations.
How can I estimate property taxes on a new Union home?
- Use the Boone County Property Valuation Administrator to check assessments and estimate bills with current rates and exemptions; start at the Boone PVA site.
