How Homebound is Helping with the Housing Shortage in Austin
March 29, 2021
Homebound is excited to announce that we are now building custom homes in Travis and Hays Counties. Austin, and surrounding areas, are a builders’ paradise, with an unprecedented demand for new homes and many fantastic lots to build on. At Homebound, we pride ourselves not just on the quality of our homes, but also on our one-of-a-kind home building experience.
Building a custom home may seem like something reserved for only an elite few, but we want people to know that that simply isn’t true. Many people build their dream homes every year. If you’re in the market for a new place but not finding the right home, it’s time to explore building. Your perfect home could be closer than you think.
We know homebuilding
Homebound was born to help rebuild homes after wildfires. Because of this, we do things differently. After the 2017 Tubbs Fire, our co-founders faced the daunting process of rebuilding their homes and learning what it would take. After seeing first-hand how disjointed and complicated the home building process could be, they knew there had to be a better way. Thus, Homebound was born.
A better way to build a custom home
To help communities rebuild, we had to figure out how to make building feel approachable to more people without previous experience, while also solving huge labor capacity problems. That led us to create an entirely new way to build a custom home that is fully designed around the customer.
When you build with Homebound you have an expert to rely on every step of the way. We bring together real estate, design, construction, and more so we can streamline the build process and give our customers peace of mind. We provide our customers with dedicated project managers who keep everything running smoothly and keep everyone in the loop.
Additionally, we’ve developed a unique online tool to help our customers track every part of the build process from anywhere. No more unanswered emails or games of phone tag. Stay up-to-date with your build and watch your home come to life. Our team of dedicated project managers paired with our easy-to-use tech platform is the perfect combination to make building a custom home approachable and delightful.
Austin is experiencing a housing crisis
It has become increasingly difficult to buy a home in Austin in the past few years. Housing inventory has seen record low numbers, all while people are seeking out newer and larger homes because of the pandemic.
Inventory is at a historic low
One of the major factors driving this housing crisis is the fact that demand is outpacing inventory. In fact, inventory in Austin this past winter was the lowest it’s ever been. Take it from the Austin Business Journal:
“Housing inventory for the Austin market dropped to an all-time low of 0.4 months in January, according to the Austin Board of Realtors. That’s down from 0.6 months in December 2020 and 0.9 months in November 2020. A healthy market, experts agree, should be closer to six months of inventory.”
That lack of inventory makes the home resale market very competitive. Homes sell for far more than the list price and buyers have to settle for homes that are less than perfect.
Building new homes could help alleviate the housing crisis
The New York Times reports:
“For more than a decade, less housing has been built relative to historical averages. The housing crash decimated the home building industry and pushed many construction workers into other jobs. Local building restrictions and neighbor objections have slowed new construction…But newly built homes are just what a tight housing market needs.”
The cost to buy a home right now in Austin is far higher than the cost to build a home. Because of the advantages of building, many professional developers will be buying lots and building new homes to sell at a profit. While this will add to the housing inventory, it may not be the best fit for many buyers who are looking to save money and have specific needs for their homes. To take advantage of the lower cost of building and get the perfect home, the best option is to build.
We are building in Austin & Dripping Springs
After starting out in Northern California, we began expanding our services to other disaster-impacted areas, like Malibu and The Bahamas. Now, we’re prepared to expand to areas that are experiencing severe housing shortages, like Austin.
Building homes after disasters has taught us how to build custom homes at scale. Now that we have perfected the process, we are excited to bring it to areas that have a high demand for new housing. Homebound is a better way to build, and we want to share what we’ve learned with cities that need it.
Homebound at Headwaters.
In Texas, Homebound is hoping to jumpstart the building process by helping our customers identify lots to buy and build on. We are also acquiring buildable lots and pairing them with suitable build plans to sell to buyers who are looking to save time and get a pre-vetted lot (see render above). Currently, we have 4 available lots with pre-designed plans at the Headwaters Community in Dripping Springs. Our goal is to make homebuilding a viable and easy option for everyone, not just the elite few.
Learn more about building your perfect home with Homebound
Homebound is in Austin and Dripping Springs. If you’re in the area and thinking about building your perfect home, get in touch today.