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Finding your perfect dream home in the Columbus real estate market isn’t as easy as it used to be.
Although the market has cooled slightly, there is still much more demand than there is supply for existing homes. With the market moving at such a rapid pace, many potential homebuyers are making the decision to build new homes instead.
Columbus has earned a reputation as being an affordable city to call home. The cost of living here is roughly 10% lower than the national average, especially when it comes to healthcare, utility costs, and housing. There is a wide variety when it comes to what kind of area you want to live in, from rural areas to urban living.
The median value of homes remains lower than the national average, but that doesn’t mean the city isn’t feeling the impacts of inflation. As the city’s population climbs over 1 million people, housing has become one of the biggest issues facing our city.
In 2021, the average price of a property in Columbus, OH was $192,000 with an average monthly rent of$1,100. So what does that mean? The price to rent ratio in this city is 14.5. The ratio is a benchmark for estimating whether it’s cheaper to rent or own property, and here in Columbus, it’s cheaper to own a property (long term).
That ratio means that there’s even more competition in the city for homebuyers. A city growing as quickly as ours will have to build new homes to keep up with population growth.
While the process of building a new home can be more complicated and a little more daunting than buying something that already exists, it also has a lot of benefits.
From customization and more freedom in the design process, building your own home is one way to ensure that you’re getting everything you want, down to the smallest detail.
There are generally two paths forward when building a home: either you’ll want to snag a new build in a subdivision that’s being developed, or you own or have purchased a lot and want to put a custom home on the land.
Most new builds in downtown Columbus are being constructed on empty lots. When building a custom home on a lot that’s not part of a larger development, buyers will need to adhere to zoning laws and acquire the correct permits. Luckily, custom builders are often there to help guide you through the entire process.
If you’ve got a certain neighborhood in mind, the process of building a new home can be slightly less customizable. Typically, builders offer a variety of models within the neighborhood, but there are often multiple builders creating new homes within the same neighborhood.
Once you’ve figured out what type of house you’re hoping to build, the National Home Builders Association suggests making a list of possible builders. Of course, asking local real estate agents or friends and family who have recently built for any recommendations is always smart. But we’ve also gathered a list of Central Ohio’s most popular home builders below.
Builders in Developments
Fischer Homes has been building houses in the Columbus area since 2008. Over the years of their existence, they’ve built over 20,000 homes. Fischer lays out the entire home building/buying process on their website, so if you find a model you love, you can know exactly what you’re getting into. Building a new house with Fischer Homes can cost anywhere between the mid $300,000s and a million dollars.
Since 1948, Ryan Homes has been making the dream of homeownership come true for people all across the country. They have a huge selection of floorplans to choose from which means that you can find exactly what you’re looking for. New builds from Ryan Homes typically start in the mid $300,000s.
With communities in some of Central Ohio’s most desired neighborhoods and suburbs, MI Homes is one of the most common builders in the city. Similar to both Fischer Homes and Ryan Homes, new builds with MI Homes start in the mid $300,000s. Learn more here.
As a relatively new builder, Collective House is already putting up some huge competition. Right now, they only have two communities with homes for sale in the area, but those communities do offer different floorplans.
Custom Home Builders
Whether you’re looking to build on your own lot or you’re hoping to build on a lot from Mulberry, you can achieve your dream home through this Columbus builder. Mulberry offers custom homes with high-end finishes and they have plenty of options to choose from.
If 100% custom design services sound like heaven, Stonecliff Homes is probably right up your alley. Currently, Stonecliff has homes being built in Delaware, Lewis Center, Ostrander, Sunbury, Pickerington, Plain City, and Canal Winchester. Building on your own lot offers you complete control over exactly how your dream home will look.
Romanelli & Hughes
Building on your own lot can be as involved or hands-off as you’d like at R&H. They have existing layouts and floorplans to choose from or you can come in with a pre-purchased plan. You can see just how fantastic R&H’s designs are on their website.
Custom homes have been flowing from Nicholson Homes for decades now. From designing to building to remodeling, Nicolson Builders takes every step along the home building process seriously.
If you’re still looking for the perfect builder, the Better Business Bureau has a ton of resources, including tips on choosing your home builder
Making big life decisions like this can definitely make you feel a little nervous. But if you can push aside all of the anxiety and nerves, then you can find the home of your dreams here in Columbus.
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