Changing Market Gives Urban Builders an Edge
With market fundamentals significantly changed from the housing boom of the last four years, and consumers receiving a scare from rising energy prices, builders in urban locations are in a good position to get a leg up over their suburban competition, Sam Sherman, vice president of the Building Industry Association of Philadelphia, writes in the current issue of BIA Voice, the association’s official newsletter.
“By its very nature, urban living allows home owners to rely less on driving because of higher levels of density and the ability to take care of many daily errands within walking distance of residences,” Sherman says. “There is also better access to mass transit, which is an obvious alternative to driving.”
Among the ways he says that urban developers can appeal to potential home buyers:
- Explore land development opportunities that are close to mass transit.
- Build a mix of housing types.
- Embrace density, which will lower land costs per home.
- Partner with businesses that offer households the option of not owning a car and renting one at a reasonable rate when they need one to run errands.
- Look at the project as part of the existing neighborhood, not a stand-alone entity.
- Incorporate mixed uses into the plan if there are no amenities within walking distance of the project.
- Incorporate different price points to broaden the project's market appeal.
- Incorporate green building techniques to reduce the energy consumption of the prospective residents.
NAHB Kit Gives Builders Back-to-Basics Tips in Cooling Market
With the current cooling of the nation’s housing market expected to persist into the middle of next year, NAHB has developed a comprehensive online toolkit geared to providing association members with information that will help them prosper in today’s changing business environment.
To access the “Back to Basics” toolkit, you must be an NAHB member and have a login to www.nahb.org. To create a login, go to www.nahb.org/login or click on the log-in button on the main menu bar.
For assistance, call the NAHB Member Service Center at 800-368-5242.
NAHB Has Nearly 300 Resources to Help You Run Your Business More Profitably
Go to NAHB's Business Management Tools Web pages (available to members only) for instant access to nearly 300 timesaving, moneymaking and cost-cutting business resources to help you run your business more profitably. Get guidance on accounting and financial management, business strategy, computers and information technology, customer service, human resources and more.
Resources are added weekly, so bookmark www.nahb.org/biztools to go directly to these vital business management resources.
Local and state home builders associations can link directly to www.nahb.org/biztools from their Web site and give their members instant access to these resources. It will make your HBA's Web site the place to go for the information and guidance that members need to succeed.
Subscribe to NAHB’s Business of Building e/Source
NAHB’s Business of Building e/Source is your monthly electronic guide to the hot issues and emerging trends in home building business management. You’ll find practical advice, tricks of the trade and sound business guidance — all delivered monthly, straight to your desktop, in a quick and easy-to-read format. Business of Building e/Source is available free to NAHB members and their employees.
To subscribe, visit www.nahb.org/BoB on the Members Only side of the NAHB Web site.
Survive Changing Markets
Bill Webb, MIRM, shows you how in “Sweet Success in New Home Sales,” available through BuilderBooks.com. This book provides powerful techniques for selling more homes and making more money in leaner times. This book lays out the proven approaches for crafting and delivering sales excellence.
To view or purchase this publication online, click here, or call 800-223-2665.