New Construction Homes in Land O Lakes

Where the new homes are being built

Most new construction in Land O Lakes sits in large master-planned communities in the northern and western parts of the area, between US 41, SR 52 and SR 54, with the Suncoast Parkway giving a toll route south toward Tampa and the Veterans Expressway. Connerton and Bexley are the two names most buyers hear first. Both are built out in phases by several national builders, and the builder lineup changes as sections sell out and new ones open. Builders active in these communities in recent years have included Lennar, M/I Homes, D.R. Horton, David Weekley and Taylor Morrison.

Before you tour, ask each builder which phase is selling, how many lots are left, and what is planned next to the lot you like. A quiet street today can become a construction route for two years.

New vs resale: what Zillow's numbers suggest

Zillow's index for Land O Lakes, covering all homes, is $415,364, up 13.0% over five years. By size, a three-bedroom is around $355,550, a four-bedroom $464,429 and a five-bedroom $583,072. The upper third of the market starts near $574,517, which is where many new four- and five-bedroom plans land once options are added.

Neighboring markets give a sense of range. Wesley Chapel, also heavy on new construction, has a typical value of $398,488. Older coastal Pasco towns are much cheaper: New Port Richey $287,036 and Hudson $285,735. Buyers who need a newer home and a shorter drive to Tampa tend to choose between Land O Lakes and Wesley Chapel; buyers who care most about price look west.

With resale values down 2.4% in a year, a lightly used home in an established phase can sometimes be bought for less than the builder's current price on the same floor plan, with the landscaping, blinds and fence already done. Always price both.

Base price, options and lot premiums

The advertised price is a starting point. On a typical new-home contract, the final number includes:

• Lot premium for a pond, preserve or corner lot.
• Structural options such as an extra bedroom, a covered lanai extension or a three-car garage. These must be chosen early.
• Design selections for flooring, cabinets, counters and fixtures. The design center is where budgets grow.
• Items that are often missing: window coverings, gutters, a fence, a pool, upgraded landscaping. Price them separately.

Ask for a full price sheet with every option you want before you put down a deposit.

Builder incentives and the lender question

Builder incentives in this market usually take the form of a mortgage rate buydown, credit toward closing costs, or credit at the design center. Almost always, the incentive depends on using the builder's affiliated lender and sometimes its title company.

You are free to use any lender. The useful move is to get a written loan estimate from the builder's lender and from at least one outside lender, then compare the total cost, including the value of the incentive, over the years you expect to hold the loan. Sometimes the builder's package wins. Sometimes a smaller price reduction with your own financing is the better deal.

CDDs, HOAs and your tax bill

Many new Pasco communities are financed by a community development district. The CDD issues bonds to pay for roads, drainage and amenities, and homeowners repay them through an annual assessment that appears as a non-ad valorem line on the property tax bill. There is usually a separate operations and maintenance portion, and the debt portion runs for a set number of years.

Ask the builder for the exact CDD assessment for your lot, whether a payoff option exists, and how many years remain. Add the HOA fee on top. Two homes at the same price can differ by hundreds of dollars a month once these are included. Homestead on a primary home removes up to $51,411 of assessed value in 2026, but it does not reduce CDD assessments, which are charged per lot.

Warranty, inspections and the contract

• Warranty. Most builders offer a structure similar to 1-2-10: one year on workmanship and materials, two years on major systems, ten years on structural defects. Get the warranty booklet before signing and look at the exclusions and the claim process.
• Independent inspections. Hire your own inspector before drywall goes up and again before closing. City and county inspections check code minimums, not workmanship.
• Deposits. Ask where your deposit is held and under what conditions you can recover it.
• Timeline. Contracts usually give the builder wide latitude on completion dates. Do not lock a rate or sell your current home on a promised date.
• Insurance. A new roof and current wind code usually mean a lower premium than an older house. Check the flood zone anyway; low areas near ponds and wetlands can still be mapped high-risk.

Your own agent in a builder sale

Whoever greets you in the model home is employed by the builder. Their job is to sell that builder's homes at that builder's prices. Having your own agent costs you nothing extra in most new-home sales, since the builder pays the commission, and it puts someone on your side for the options sheet, the lender comparison and the inspections. Most builders require your agent to be registered at your first visit, so bring them along or register them before you walk into a model. When you are ready, I can compare current inventory across Connerton, Bexley and nearby resale on one sheet.