Starter home prices are on the rise in mid-Missouri

3 years 1 day 20 hours ago Wednesday, October 14 2015 Oct 14, 2015 Wednesday, October 14, 2015 6:12:00 PM CDT October 14, 2015 in News
By: Katie Hynes, KOMU 8 Reporter
loading

COLUMBIA - Starter homes across the country are disappearing, but one local construction company says it's the cost that is making starter homes harder to find. 

An article for DailyFinance found it's harder for people to buy starter homes because home owners are choosing to rent them, and starter homes are too expensive to build. Jeff Hemme, co-owner of Hemme Construction, said the cost of building a home in Columbia has increased.   

"They've gotten more expensive over the past few years mostly due to land cost and code changes," Hemme said. "Both in the building practice while building the house and developing the land." 

Hemme said the cost of developing the land has increased due to the increased costs of developing the infrastructure, put in streets and utilities, and the increase in storm water requirements set by the Missouri Department of Natural Resources

"The cost of developing land has gone up substantially causing the lots to go for more," Hemme said. "There's new building codes on the building side that are enforced, and those raise the price of the building side. Combined you have higher prices."

In the past five years the cost of buying a new or existing home has increased in Columbia and Boone County, according to the Columbia Board of Realtors. On average, to buy a new home in Columbia, it costs $86,000 more than buying an existing home so far this year. 

Hemme said people are building more custom homes becuase there aren't a lot of homes available in Columbia. 

"There's not much inventory being built right now," Hemme said. "And people are having a hard time finding what they want because they can't find it already built."

Even though the cost has increased Hemme said the more expensive homes are still considered starter homes. 

More News

Grid
List
JEFFERSON CITY - The state Capitol building is set to receive interior upgrades after the Missouri Capitol Commission met with... More >>
6 minutes ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 7:38:00 AM CDT October 16, 2018 in News
ST. LOUIS (AP) — Authorities say a suspect in two deadly St. Louis shootings has been linked to a third.... More >>
30 minutes ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 7:14:33 AM CDT October 16, 2018 in News
PANAMA CITY, Fla. (AP) — Joanne Garone Behnke has replayed every possible scenario in her mind a hundred times. ... More >>
11 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 8:44:00 PM CDT October 15, 2018 in News
COLUMBIA- Columbia Public School's out-of-school suspension rates for black students is double the rate of out-of-school suspensions given to white... More >>
11 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 8:06:00 PM CDT October 15, 2018 in News
(AP) - Two companies facing multiple lawsuits over a summer tourist boat accident in Missouri that killed 17 people have... More >>
12 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 7:24:00 PM CDT October 15, 2018 in News
(CNN) - A federal judge has dismissed adult film star Stormy Daniels' defamation lawsuit against President Donald Trump. Daniels... More >>
12 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 6:57:00 PM CDT October 15, 2018 in News
MEXICO - A Mexico teenager faces 27 counts of child sexual abuse. Probable cause documents allege 17-year-old Chandler Douse... More >>
13 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 6:39:00 PM CDT October 15, 2018 in News
COLUMBIA - The Columbia City Council is looking into a way to decrease oil and grease storage on city streets... More >>
13 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 6:35:00 PM CDT October 15, 2018 in News
FULTON - Two Columbia residents were taken into custody at a traffic stop Monday charged with the possession and distribution... More >>
14 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 5:27:00 PM CDT October 15, 2018 in News
COLUMBIA - The Columbia City Council is talking about building two roundabouts on Nifong Boulevard in an attempt to reduce... More >>
16 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 3:35:00 PM CDT October 15, 2018 in News
(CNN) - Former Senate Intelligence Committee staff member James Wolfe pleaded guilty Monday to one count of lying to the... More >>
16 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 3:31:00 PM CDT October 15, 2018 in News
COLUMBIA – A walkway outside of the Royal Inn off I-70 showed signs of structural damage Monday afternoon and guests... More >>
16 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 2:58:00 PM CDT October 15, 2018 in News
(CNN) - It's been five days since Hurricane Michael decimated Mexico Beach, and dozens of residents are still nowhere to... More >>
17 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 2:30:00 PM CDT October 15, 2018 in News
JEFFERSON CITY, Mo. (AP) — The Latest on fundraising in the Missouri U.S. Senate race (all times local): 3... More >>
17 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 1:52:00 PM CDT October 15, 2018 in News
COLUMBIA - Gov. Mike Parson kicked off what he calls "Infrastructure Week" Monday morning at the Missouri Department of Conservation... More >>
18 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 1:26:00 PM CDT October 15, 2018 in News
JEFFERSON CITY- A federal judge says Missouri has violated the rights of people serving life in prison without parole for... More >>
20 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 11:35:48 AM CDT October 15, 2018 in News
MONITEAU COUNTY- A man was arrested and accused of trying to run over his girlfriend and son with a truck... More >>
20 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 11:28:00 AM CDT October 15, 2018 in News
COLUMBIA- The Boone County Sheriff's Department is investigating a pair of armed robberies at convenience stores over the weekend. ... More >>
21 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 9:54:00 AM CDT October 15, 2018 in News
Columbia, MO
Broken Clouds 31°
8am 34°
9am 40°
10am 45°
11am 49°