In recent years, tract homes have become increasingly popular in the housing market. These homes, also known as production or cookie-cutter homes, are built in large quantities by developers and offer a range of benefits for homebuyers. From affordability to convenience, tract homes have revolutionized the way people approach homeownership.
One of the primary advantages of tract homes is their affordability. Developers construct these homes in bulk, which allows them to take advantage of economies of scale. As a result, tract homes are often priced more competitively compared to custom-built homes. This affordability opens up homeownership opportunities for individuals and families who may not have been able to afford a traditional new construction home otherwise.
Tract homes also offer a sense of uniformity and consistency. Since they are built in large quantities, these homes often have similar layouts, designs, and finishes. This can be appealing to buyers who prefer a more predictable and standardized living experience. Additionally, the construction process for tract homes is streamlined, resulting in shorter build times and quicker move-in dates.
While tract homes may not offer the same level of customization as custom-built homes, they provide an excellent option for those seeking affordable new construction living. The rise of tract homes has made homeownership more accessible to a wider range of individuals and families.
The the flip side of the argument regarding these mass builders are the concerns regarding the resources needed to ensure schools are not overcrowded. Also mentioned are concerns with the quality of work as well as the warranty on their builds. Many of the contracts that these developers require do no allow for traditional contingencies and some even provide a buffer for issues that are traditionally protected through things like the MS New Home Warranty Act. Also to note, these entities tend to have preferred providers that come with enticements such as lower pricing, etc. On the surface this looks great to some buyers but all buyers are not ready to represent themselves in a real estate transaction due to area-specific issues that need to be researched. Same goes for lending practices as these areas, for our local purposes, tend to appeal to first time homebuyers.
The Chandler Group is excited for all area development and are supportive of the opportunity these developments can bring for residents of the area; however, our advice is to approach it cautiously. Be sure that you have an attorney read over any paperwork you are asked to sign without your own representation. We sympathize with the stress that larger developments can put on an already taxed school system and infrastructure. We are hopeful that the national entity that is currently breaking ground in our community and that has two additional planned sections for the future has the best interest of our community and our future homeowners at heart.