You may have heard that home building is great for the economy, but how exactly does it work?
The number of new rooftops planned, or building permits pulled, is directly related to the economic and municipal growth of an area. Since most cities and towns base their budgets on the number of permits pulled for a year (meaning what they can predict in annual tax revenue), the more homes planned, the more money can be allocated to schools, parks, and public services. Of course, the more people who live in an area, the more attractive it is to developers and business groups to bring in new dining, retail, and recreation opportunities.
The NAHB has estimated the one-year impacts of building 100 single-family homes in a typical local area to include:
And of course, there's the additional, annually recurring impacts of the same construction project:
In one city, Stone Martin Builders alone has quadrupled the number of permits pulled. This has given the city the opportunity to build a brand-new 6th grade academy, which has produced teaching, administrative, janitorial, and bus driver jobs, as well as construction jobs to build the facility. There's also the trickle down effect, where money trickles down to other parts of the economy, like Target for school supplies, office supply stores for furniture, landscapers, contractors, clothing stores, and more.
We've seen this impact in cities and towns across Alabama where we build. Here are a few examples:
Single Family Homes
3-5 Bedrooms
2-4.5 Baths
1,924-3,310 Square Feet
Priced from $310,999
Single Family Homes
3-5 Bedrooms
2-4.5 Baths
1,924-4,791 Square Feet
Priced from $299,299
Single Family Homes
4-7 Bedrooms
2.5-4.5 Baths
2,362-4,791 Square Feet
Priced from $362,199
Single Family Homes
3-5 Bedrooms
2-4 Baths
1,862-3,680 Square Feet
Priced from $285,099
Buying a home in a new community not only benefits your family, but gives you a chance to directly impact the growth of your neighborhood, city, and state. There are so many good reasons to buy new!
