Why Home Building In An Urban Area Isn’t As Crazy As It May Seem
With high rises around every corner and seemingly no land on which to build, it would seem that home building in an urban area would be an impossibility, but this is not the case.
In reality, urban communities often have hidden pockets of land where new homes can be built, and these homes are located near jobs and entertainment venues, making them ideal for those who work in the city. Numerous builders are taking advantage of growing demand for new urban neighborhoods and building spacious properties in the heart of cities across the nation. If you have been considering building a home, rest assured that you do not have to make the move to the suburbs. Here are some reasons that home building in an urban area is not as crazy as it may seem.
Build Near Your Job
Who wants to have an hour commute? Even with excellent public transportation options, your time is better spent at home. Building in the city, instead of migrating to the suburbs, gives you the power to take back your commute time and, instead, spend your time the way you want. Should work call unexpectedly, you are not far away.
Land Is Available
Land in urban areas is not abundant, but it is available. While prices for land may be at a premium, the benefits of urban living, including the close proximity to a number of employment options, makes that worthwhile for a number of people.
Builders are becoming adept at finding land in surprising areas. For example, the New Home Co., a home building firm, found infill areas around new commercial developments and other job sites to be one of the ideal places to find land in an otherwise densely packed urban area. This was beneficial because the land was located where people wanted to live, making sale or rental of the properties easier.
Land can also be found in historic areas of cities, where careful zoning has protected residential land from city growth. Some of these neighborhoods have historic homes and land next to them where new homes can be built, all within walking distance of many of the city’s best amenities.
Statistics Show an Urban Housing Construction Recovery
Interestingly, as the real estate market has started to pick up, so has the number of homes being built to meet the growing demand for buyers who have been waiting to purchase. According to Trulia, the construction recovery has been disproportionately urban. While much of the construction is apartment and condominium buildings, single-family homes are in the mix as well. Urban populations are also growing, with a 0.8 percent growth between 2012 and 2013, which may seem small but is actually larger than the boom years before the real estate crash.
Creative Home Designs Make the Most Out of Small Lots
One drawback to building in urban areas is the smaller land lots common in most cities. It’s just a fact of life when it comes to urban living that people do not have as much land on which to build. Modern home designs can help with this, however, providing ample living space with a smaller footprint.
These homes use vertical space to accomplish what other homes accomplish horizontally. While they do not take much land, they provide ample living space indoors with multiple stories, finished basements and similar design elements.
Home building in urban areas may seem impossible on paper, but when you take a closer look, it is possible to build a home that fits your needs, even in the heart of the city, all without relegating yourself to condo or apartment living. Find a builder working in your city, and start making plans for your dream home today.