A closer look at Dream Finders Homes
Dream Finders Homes is currently offering new construction homes in the Phoenix area.
Champlin says that the company is “very price conscious” and understands that there may be growing families or people moving to the state who need housing.
Homebuyers can currently find homes for sale at the new Rancho Mirage community in Maricopa, which will have 123 new homes total.
One model offers 1,593 square feet of space starting at $319,000, while another similar model starts at $339,000.
The priciest home in the community appears to start at just $404,990, which is still below the average market price for homes in the state. With that, you get a two-story house with 2,537 square feet of space.
Community areas include cooking spaces with stainless steel BBQs, a playground and basketball and pickleball courts.
Seven more housing communities will be built across the metropolitan Phoenix area, including some in Surprise, Buckeye, Goodyear and Mesa.
As for why these homes can be so affordable, Champlin told AZFamily reporters that it’s because of the volume Dream Finders Homes is building, plus incentives the company offers.
“We’re able to get more economies of scale, and pass those along to buyers,” he said.
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Learn MoreWill this significantly impact the Arizona housing market?
More affordable homes like the ones Dream Finders is building could positively impact the Arizona housing market, lowering the high barrier to home purchases.
According to an Arizona State University report, Arizona was short 270,000 housing units as of 2022.
Common Sense Institute Arizona, a non-partisan research organization, found in 2024 that it could take around six years to close the deficit between available homes and housing demand.
For many first-time homebuyers, lower home prices (with or without a lower mortgage rate) could be the light at the end of the tunnel they’re seeking. Although, time will tell how many homes Dream Finders Homes will build to perhaps alleviate some of the pent-up demand.
In the meantime, if you’re looking for a home, you may need to exercise patience.
Continue to monitor your budget to see whether you can afford the whole cost of homeownership. Don’t forget to factor in expenses such as homeowners insurance, property taxes and ongoing maintenance costs.
While it may feel frustrating, you don’t want to rush into a major financial decision, especially a home purchase.
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