In a local Facebook group, a local builder's rep announces a new community in high demand school district.
It's a fairly affluent area that's made Money magazine's Best Small Cities To Live list more than once. There's the "old" section of the town and then there's subdivision after subdivision after subdivision after......
And those new homes have NOT been cheap. You want new construction you'd better be prepared to spent close to half a million dollars (or much more).
So the latest new construction announcement breaks the trend, homes starting at $280,000.
Now of course there's a tradeoff for that price.
The homes are going to be on small lots. That's a given.
The homes will be the builder's "economy" line. Sure they don't call it that, but that's what they are.
And then comes the backlash. What I refer to as "got mine" mentality. I've seen it over and over the last few years.
- We wish that field would stay greenspace!
- The traffic!!
- The schools will be crowded!
- We don't need MORE cookie cutter houses!
- People with an axe to grind start commenting about how much trouble they're had with THEIR home from that builder.
But here's the reality. The builder's rep had 25 appointments in 3 days to discuss building in the new community. That "affordable" housing appeals to the buyers that have been renting apartments or older homes and want something new.
Despite the attitude of some towards the new community, I anticipate the new community WILL do quite well. There's demand and the builder is going to provide the supply.
We don't control land we don't own. As long as things are done in accordance with zoning laws, free enterprise rules.
So my advice to any buyer willing to pay extra for a home next to undeveloped land, can you expect it to stay that way? And for how long? Because unless there's something to prevent it, someday that land may be someone's house. If an area is high demand, it's just a matter of time.
Just give Bill a call at 513-520-5305 or email Liz@LizSpear.com and we can discuss how we can help you with your real estate needs!
Serving Greater Cincinnati home buyers and sellers,
Bill of Liz and Bill aka BLiz