WHITE PAPER: Winning Over Local Communities with New Home Builder WarrantiesMarch 29, 2018
The nationwide housing shortage is reaching crisis levels in some cities, and everyone is counting on home builders to swoop in and save the day. Increasing new home starts can turn builders into heroes for would-be buyers who are struggling to compete for homes.
But even heroes rarely act alone. In their quest to expand home inventories, builders face many headwinds, from regulatory costs to dwindling buildable land. As a result, solving the housing problem isn’t a simple matter of building more homes; rather, it’s going to take a collaborative effort between home builders and other local stakeholders.
Maintaining a constructive relationship with community members is more important than ever for builders. Urban markets are growing denser, spurring many communities to consider infill building in established neighborhoods as a way to expand available inventory. In Portland, Oregon, for example, builders are replacing older homes 1 Winning Over Local Communities with New Home Builder Warranties with two or three skinny homes as a way to provide more housing units in a limited amount of lot space.
Although buyers can’t wait to snap them up, neighbors often worry about how the new construction will impact property values in their neighborhood. Anything builders can do to alleviate their concerns will go a long way toward earning a positive reputation within the community.
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