How to get your new home project off the ground in Colorado?
According to statistics provided by Redfin, the Colorado housing market has seen some significant changes when comparing August of 2022 to the same time frame in the previous year. They report that home prices in Colorado were up over 7 percent while the number of new homes for sale increased by nearly 8 percent. They also report that the number of sold homes fell 23.6 percent year-over-year, which equates to roughly 8,000 homes that remain unsold.
However, the statistic that most home buyers have their eye on is the increase in home sale prices. As you probably already know, inflation has been a pain point felt throughout the nation – not just in the housing market but across the board. According to recent statistics from the U.S. Bureau of Labor Statistics, overall inflation is up 8.3% when comparing August 2022 to the previous year.
Currently, the median sale price for homes in Colorado is $568,800, per Redfin’s most recent statistics. For the average Colorado resident, that’s simply too much. This has made many Colorado residents wonder if they’ll ever be able to get into a new home.
Finding new build homes for sale in Denver
Despite what many believe, it’s possible to find new build homes in Denver and Colorado Springs. You can get into a brand-new home starting at around $300,000. The trick is to go through a new home builder specializing in production-built homes.
For the uninitiated, a production-built home is a home that is constructed based on a pre-established blueprint or template. Although the home will be similar to other homes in the area, there are significant savings because production-built homes cost far less than traditional homes to plan and build.
One of the largest expenses for any home builder is construction waste, which consists of lumber, plumbing, tile, insulation, roofing materials, carpet, and other materials essential in building a home. With a traditional home, there is a lot of construction waste produced because the builders are using educated guesses when purchasing materials, and there’s more trial and error involved when using those materials. Keep in mind an original blueprint. The builders may take a few attempts to get the kitchen, bathroom, or bedroom just right. The process is far more efficient with a production-built home because it’s a home the builders have constructed many times over.
An efficient process means the entire building process is reduced by several months compared to a traditional home. This is made possible by planning every phase of construction offsite and precision-cutting every component, such as studs, drywall, and shingles. It also means construction waste is drastically reduced. Some new home builders report construction waste of 1% or less.
In a market where houses in Denver and the greater metropolitan area efficiently cost over half a million dollars, house hunters finally have an affordable option via production-built homes. In addition to making high-quality homes, the companies behind production-built homes also ensure they are part of thriving communities.
Living the community life
Since the building companies behind production-built homes own large tracts of land, they are building more than just homes here and there. They are building a community filled with production-built homes and amenities for families in the area. These amenities typically include professional tennis courts, swimming pools, playgrounds, public BBQ grills, bark parks, and plenty of green space for tossing the football around or laying out a picnic spread. Community living is one of the major perks of owning a production-built home.
How to kick off your search for a production-built home?
Finding a company that specializes in production-built homes should be easy. You can start your search by Googling “production-built homes near me” or “production-built homes in Denver.” This should bring back production-built home companies in your direct vicinity.
From there, do research on the homes they build. They should have numerous floor plans and galleries that display what their homes look like. They should also have pricing information timelines for each one. They should happily walk you through the home buying and building process. You can also talk to them about financing while you’re at it.
