Seemingly, a local trend in new home construction is to build large and price large, too. This generally leaves the new home buyer wondering if he wants to go to work every day just to pay for the mortgage.
Candice Earhart, owner of All West Inc. Realtors, realized this trend and decided to fill in the gap between quality new homes and lower pricing by creating a new townhome project with prices starting at $68,500.
All West Development, a subsidiary of All West Inc. Realtors, completed 67 units in Pinehurst Bluffs Townhomes at Pinehurst Station in Southborough. Pinehurst Bluffs offer four models in Phase I of development. Phase II will be more townhomes and some single-family homes. Phase III will be commercial development of the area.
Stephen Cox, All West Inc. Realtors brokers, said target dates for the start of construction for Phase II and Phase III have not been set.
"By developing this townhome project, it makes for a win/win situation for the buyer and All West," said John McGovern, All West’s managing broker. "The home buyer or property investor can have a new home built at a low cost and All West can market homes that are fast becoming more and more in demand."
The four models have options ranging from two to three bedrooms, two to three bathrooms, fireplaces, skylights, and finished or unfinished basements, Earhart said.
"You can still build a 1,537-square-foot home with options for under $75,000. This truly makes an attractive proposition for the buyer looking for space and to save on their monthly housing expenses," she said.
Price is not affecting construction quality either. These homes have silent floor construction; R38 insulation in the walls and roof, which far exceeds code requirements; thermopane windows, stoves, dishwashers, and vent hoods as standard features, she said.
"This is a $5 million investment. Not for today, but for the future of this company and the affordable housing market," Earhart said.