Starter home prices are on the rise in mid-Missouri

4 years 9 months 3 weeks 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- As classes are preparing to begin, the conversation around in-person or online classes intensifies for some. Tuesday ,... More >>
10 hours ago Sunday, August 09 2020 Aug 9, 2020 Sunday, August 09, 2020 8:29:00 PM CDT August 09, 2020 in News
As COVID-19 continues to spread, KOMU 8 will continue to update you about impacts in the community. You can... More >>
13 hours ago Sunday, August 09 2020 Aug 9, 2020 Sunday, August 09, 2020 5:20:00 PM CDT August 09, 2020 in News
COLUMBIA - Columbia/Boone County Public Health and Human Services issued new guidelines for the rest of the month that begin... More >>
14 hours ago Sunday, August 09 2020 Aug 9, 2020 Sunday, August 09, 2020 4:10:00 PM CDT August 09, 2020 in News
COLUMBIA – A Korean War veteran won his latest battle on Thursday. Harold Clark, formerly with the U.S. Army,... More >>
15 hours ago Sunday, August 09 2020 Aug 9, 2020 Sunday, August 09, 2020 3:32:00 PM CDT August 09, 2020 in News
COLUMBIA- Businesses are seeing an influx of customer traffic because college students and their families are back in town. ... More >>
16 hours ago Sunday, August 09 2020 Aug 9, 2020 Sunday, August 09, 2020 2:36:00 PM CDT August 09, 2020 in Continuous News
PITTSBURGH (AP) — The opening game of a three-game series between the Pittsburgh Pirates and the St. Louis Cardinals has... More >>
18 hours ago Sunday, August 09 2020 Aug 9, 2020 Sunday, August 09, 2020 12:02:53 PM CDT August 09, 2020 in News
KANSAS CITY, Mo. (AP) — Authorities are investigating the deaths of two men found with gunshot wounds in a backyard... More >>
19 hours ago Sunday, August 09 2020 Aug 9, 2020 Sunday, August 09, 2020 11:15:17 AM CDT August 09, 2020 in News
COLUMBIA - Police are investigating shots fired in downtown Columbia early Sunday morning. According to a news release from... More >>
21 hours ago Sunday, August 09 2020 Aug 9, 2020 Sunday, August 09, 2020 9:40:44 AM CDT August 09, 2020 in News
MORGAN COUNTY - A Gravois Mills man is dead after being ejected from his vehicle Saturday night. According to... More >>
21 hours ago Sunday, August 09 2020 Aug 9, 2020 Sunday, August 09, 2020 9:18:00 AM CDT August 09, 2020 in News
COLUMBIA – The call to improve community policing is on the rise, especially in the wake of nationwide protests after... More >>
1 day ago Saturday, August 08 2020 Aug 8, 2020 Saturday, August 08, 2020 8:47:00 PM CDT August 08, 2020 in News
As COVID-19 continues to spread, KOMU 8 will continue to update you about impacts in the community. You can... More >>
1 day ago Saturday, August 08 2020 Aug 8, 2020 Saturday, August 08, 2020 4:41:00 PM CDT August 08, 2020 in News
PIKE COUNTY - A woman who the Missouri State Highway Patrol reported missing and "possibly in danger" Thursday was found... More >>
1 day ago Saturday, August 08 2020 Aug 8, 2020 Saturday, August 08, 2020 3:08:00 PM CDT August 08, 2020 in News
WARRENSBURG, Mo (AP) — Two Warrensburg man have been charged in a shooting at a large birthday party that left... More >>
1 day ago Saturday, August 08 2020 Aug 8, 2020 Saturday, August 08, 2020 2:20:00 PM CDT August 08, 2020 in Continuous News
OSAGE COUNTY - One 15-year-old died and another was airlifted to University Hospital after they hit a truck head-on while... More >>
1 day ago Saturday, August 08 2020 Aug 8, 2020 Saturday, August 08, 2020 12:32:00 PM CDT August 08, 2020 in News
(AP) - The Mid-American Conference has become the first league competing at college football's highest level to cancel its fall... More >>
1 day ago Saturday, August 08 2020 Aug 8, 2020 Saturday, August 08, 2020 10:48:00 AM CDT August 08, 2020 in News
COLUMBIA - The tax holiday weekend is here and shoppers are bumping up computer sales. From Aug. 7-10 shoppers can... More >>
1 day ago Saturday, August 08 2020 Aug 8, 2020 Saturday, August 08, 2020 10:45:00 AM CDT August 08, 2020 in News
JOPLIN, Mo. (AP) — A 24-year-old Carthage man is charged with first-degree murder in a December 2019 shooting death of... More >>
1 day ago Saturday, August 08 2020 Aug 8, 2020 Saturday, August 08, 2020 10:17:44 AM CDT August 08, 2020 in News
(CNN) -- A salmonella outbreak caused by onions is expanding and has infected 640 people from 43 states.... More >>
1 day ago Saturday, August 08 2020 Aug 8, 2020 Saturday, August 08, 2020 9:18:00 AM CDT August 08, 2020 in News
Columbia, MO
Broken Clouds 75°
7am 75°
8am 78°
9am 82°
10am 85°