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Old 10-03-2019, 12:27 PM
 
34 posts, read 24,625 times
Reputation: 70

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Why are home builders not providing homes for first time home buyers who don’t want 2500-3000 sq ft homes? I can’t even describe how frustrating it is that they won’t provide smaller homes at more affordable prices.
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Old 10-03-2019, 01:08 PM
 
366 posts, read 196,842 times
Reputation: 323
Used homes?
Honestly there are new smaller homes out there from the very low 200,000's (Gehan, D.R Horton, Lennar, LGI, Impression, Starlight, cheldan), but they tend to be closer to the border cities of the metro area, are very basic, and very small 1300-1600 SQFT.
City regulations have a lot to do with it.
Higher profit margins in the expensive homes.
NIMBY.
Lands not cheap.
The large number of new "high end" apartments that cater toward this exact demographic.

I myself would've liked to have seen cheaper new homes, but even the older homes in my target area were expensive for a first time home buyer.
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Old 10-03-2019, 02:09 PM
 
34 posts, read 24,625 times
Reputation: 70
Yeah all the used homes are crazy expensive too. Even the ones in neighborhoods no one wants to live in. Crazy times! I might have to move to the country, but then spend money in gas and car maintenance.
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Old 10-03-2019, 03:20 PM
 
146 posts, read 91,741 times
Reputation: 288
There is a massive shortage of construction workers nation wide right now. Construction companies are able to charge higher rates. There's just no profit to be made building smaller/cheaper houses so they don't bother.
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Old 10-04-2019, 07:38 PM
 
120 posts, read 79,536 times
Reputation: 331
Because home builders are 100% focused on getting max sell price for every home. McMansions are why so many young people can't afford to get out of apartments and into homes.

I have a small/older home we bought in 2005...starter home is the old term. It's 3/2 and under 1800sqft and because a new subdivision is being built close by that are 2800+sqft recently, I couldn't afford to buy my home today.

Part of it is greed on the builders part and ignorance on the buyers part. Why would anyone spend $600K+ on a home that literally takes up 80% of the property and is so close to the next door neighbors that they could open and window knock on their neighbor's window?
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Old 10-05-2019, 03:13 PM
 
34 posts, read 24,625 times
Reputation: 70
Quote:
Originally Posted by RemyLebeau View Post
Because home builders are 100% focused on getting max sell price for every home. McMansions are why so many young people can't afford to get out of apartments and into homes.

I have a small/older home we bought in 2005...starter home is the old term. It's 3/2 and under 1800sqft and because a new subdivision is being built close by that are 2800+sqft recently, I couldn't afford to buy my home today.

Part of it is greed on the builders part and ignorance on the buyers part. Why would anyone spend $600K+ on a home that literally takes up 80% of the property and is so close to the next door neighbors that they could open and window knock on their neighbor's window?
I agree 100% greed on the builders and ignorance on the buyer. I could prob get approved for a $300,000 home, but guess what... that doesn’t mean I can really afford it not to mention I’m not going to spend that amount of money on a house! Crazy! And first time home buyers are doing this.
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Old 10-06-2019, 09:48 AM
 
1,521 posts, read 772,291 times
Reputation: 1211
all kinds of reasons as many mentioned already. I think too one must consider global use of resources increasing which makes for higher raw material prices
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Old 10-07-2019, 07:37 AM
 
Location: Location: Happy Place
3,881 posts, read 2,121,956 times
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IDK, I just listed my house and so far, only one showing. In 1885 sf, all new and renovated inside, granite, pergo, no popcorn ceilings, lush grass, landscaped back yard with big deck, two bricked patio/sitting areas, new fence. Literally turn-key ready. Nothing left to do unless you dislike neutral paint.....

One showing. RE folks priced it at 229k. I don't think we will have much interest until we lower the price 20k or so. Only been a few days but I hoped there would have been a little more interest.

So, here I sit. Offer on house in another state accepted so it is making for a tense time.

We are considering a property management company leasing the home.

Anyone out there use a DFW PM company? DM me info....
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Old 10-07-2019, 02:54 PM
 
34 posts, read 24,625 times
Reputation: 70
Quote:
Originally Posted by mschrief View Post
IDK, I just listed my house and so far, only one showing. In 1885 sf, all new and renovated inside, granite, pergo, no popcorn ceilings, lush grass, landscaped back yard with big deck, two bricked patio/sitting areas, new fence. Literally turn-key ready. Nothing left to do unless you dislike neutral paint.....

One showing. RE folks priced it at 229k. I don't think we will have much interest until we lower the price 20k or so. Only been a few days but I hoped there would have been a little more interest.

So, here I sit. Offer on house in another state accepted so it is making for a tense time.

We are considering a property management company leasing the home.

Anyone out there use a DFW PM company? DM me info....
Yeah I’m sure home buyers, especially first time home buyers like myself really don’t want to pay these crazy prices, on top of hearing horror stories of bid wars. The prices are already too high and we can’t afford to be a in a bid war. A lot of us are waiting to save more money for a down payment. A house that would of been in our range say at $185,000 is now selling for $230,000. So that means a house that’s $185,000 now is a piece of crap in a bad neighborhood. So we are left to just keep saving....
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Old 10-07-2019, 02:59 PM
 
Location: Fort Worth, TX
167 posts, read 281,108 times
Reputation: 103
I'd rather have a more modestly sized home on a larger lot. Moved here from NJ and was surprised at how small the lots are. For the same cost in central NJ, I had a full acre of land. What ever happened to the saying, "everything is bigger in TX"?
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