Advisory Center for Affordable Settlements & Housing

Document Download Download
Document Type
Publish Date
Author
Published By
Edited By
Uncategorized

Building Affordable Houses in India

The Cordobas almost gave up their dream of owning a new home. With three kids, they needed four bedrooms, a yard and room to grow. They found low-interest financing but could qualify for only a $95,000 loan. Every builder that they talked to told them that a new house at that price couldn’t be done. Every builder but me. Five months after the Cordobas called me, they moved into a brand-new, 1600-sq. ft., four-bedroom home in a new subdivision in Lincoln, Nebraska. They financed it within their means, and they even got a few amenities such as a deck and a microwave oventhat they hadn’t expected. I did all right, too. The 12% profit ($12,000) I made was a much better return than the 8% I typically realize when I build expensive homes. But beyond money, I also earned genuine satisfaction helping the Cordobas to achieve their dream, much more satisfaction than I get from helping wealthier people put up McMansions. Building affordable homes provides workmanship challenges, too. It does not mean building cheap, shabby houses. Too many warranty calls eat up the profits; and unattractive homes don’t sell at any price. The construction of a first-rate home on a reduced budget requires careful attention to thoughtful design and quality.

Leave a Reply

Your email address will not be published. Required fields are marked *