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
(CNN) -- The coronavirus pandemic has turned life upside down around the world, with many workers losing their jobs, economies... More >>
2 days ago Friday, August 07 2020 Aug 7, 2020 Friday, August 07, 2020 9:28:00 AM CDT August 07, 2020 in A Brighter Tomorrow
MEXICO - Prosecutors filed charges Friday against a teenager in connection with Wednesday's shooting that left one 17-year-old dead and... More >>
2 days ago Friday, August 07 2020 Aug 7, 2020 Friday, August 07, 2020 8:28:00 AM CDT August 07, 2020 in News
(CNN) -- The US economy added another 1.8 million jobs in July, a sharp slowdown from June and a small... More >>
2 days ago Friday, August 07 2020 Aug 7, 2020 Friday, August 07, 2020 8:07:00 AM CDT August 07, 2020 in News
As COVID-19 continues to spread, KOMU 8 will continue to update you about impacts in the community. You can... More >>
3 days ago Friday, August 07 2020 Aug 7, 2020 Friday, August 07, 2020 5:51:00 AM CDT August 07, 2020 in News
ST LOUIS – The St. Louis Cardinals are set to face the Chicago Cubs Friday after a COVID-19 outbreak among... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 8:28:00 PM CDT August 06, 2020 in Top Stories
Not only is there a global pandemic in the year 2020, we’ve also been dealing with a very active start... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 8:27:00 PM CDT August 06, 2020 in Weather
COLUMBIA - With just over two weeks until Mizzou's fall semester begins, KOMU 8's Emily Spain talked with MU Health... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 6:57:00 PM CDT August 06, 2020 in News
COLUMBIA — The City of Columbia will host a virtual information meeting Thursday at 7:30 p.m. to discuss new loan... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 6:03:00 PM CDT August 06, 2020 in News
COLUMBIA — Columbia/Boone County Public Health and Human Services director Stephanie Browning issued a new health order on Thursday. ... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 4:47:00 PM CDT August 06, 2020 in News
COLUMBIA — State and federal governments announced steps aimed at reining in violent crime in St. Louis Thursday, prompting... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 4:42:09 PM CDT August 06, 2020 in News
COLUMBIA - Missourians voted on Tuesday to pass Amendment 2, expanding Medicaid eligibility throughout the state. Joshua Dunne, chair... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 3:52:00 PM CDT August 06, 2020 in News
COLUMBIA - When COVID-19 began to shutdown mid-Missouri in March, many wondered how long the pandemic would last. Some... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 2:32:00 PM CDT August 06, 2020 in News
COLUMBIA — Missourians who qualify under the newly expanded Medicaid qualifications will have to wait almost a year to... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 2:28:00 PM CDT August 06, 2020 in News
As COVID-19 continues to spread, KOMU 8 will continue to update you about impacts in the community. You can... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 2:13:00 PM CDT August 06, 2020 in News
WASHINGTON — Sen. Josh Hawley's bill to ban TikTok on government devices passed the U.S. Senate unanimously on Thursday, according... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 12:51:00 PM CDT August 06, 2020 in News
JEFFERSON CITY —Four people have tested positive for COVID-19 following open testing at the Missouri Capitol. The state health... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 12:23:50 PM CDT August 06, 2020 in News
(CNN) -- Former First Lady Michelle Obama says she's suffering from a "low-grade depression." The reasons? The pandemic, race relations... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 10:53:00 AM CDT August 06, 2020 in A Brighter Tomorrow
At the beginning of the Coronavirus pandemic, NBC news reported people with eating disorders were suffering due to social isolation.... More >>
3 days ago Thursday, August 06 2020 Aug 6, 2020 Thursday, August 06, 2020 10:41:00 AM CDT August 06, 2020 in A Brighter Tomorrow
Columbia, MO
Broken Clouds 75°
7am 75°
8am 78°
9am 82°
10am 85°