Originally Posted by blupupher
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"In the last 12 months, we have made an effort to try to build more affordable homes," Altura CEO Justin Webb says.
I agree, I just don't see how $250,000 is an affordable home (yes location makes a difference, but still).
Then (especially here in Texas) you have to add on the value based taxes you have to pay every year ($3,000 +, higher the more value of the home).
Homes now days are a huge waste of space. Hard to find a new home with less than 2,000 sq feet.
Breakfast area, dining room, office, den, huge laundry room, monstrous bathroom, giant vaulted ceilings, etc are a lot of space that a "starter" home does not need. Also costs more to heat and cool these wasted spaces.
Build a 1,200 to 1,500 sq foot house with a 2 car garage, 3 bedrooms, 2 bathrooms (master having only a shower, no need for a bath and shower), reasonable size living room and kitchen (dining area as part of kitchen extension area, what most call the breakfast area).
Sell for
Oh wait, that is what I have. And the reason the houses in my subdivision sell within a month of going on market vs the $250,000+ homes that surround me (although those are selling well also).
What they don't build and what I think would sell is similar to what you propose. A really nice 1200 sq ft house. The only really nice 1200 sq foot houses are in 55+ developments it seems. I want the nice tile floors, granite or solid surface counters, really fancy bathrooms. But I don't need 3000 sq feet. I don't need a dining room that I never use or a formal living that has no purpose.