Southwest Florida Builder Solving Housing Crisis With $279,900 Turnkey Homes
With rapidly rising prices and interest rates now ticking 8%, buying a home in Southwest Florida has become an impossible task for many. A study that came out earlier this week shows that it’s likely we’ll see another 4-5% increase in home prices next year, further pricing out many first time home buyers. Is there a solution? One local Southwest Florida builder thinks so.
Scott Friga of Friga Tyme Construction realized he had to do something after a talk with his son. “My boy, who makes 6 figures, went to the bank to get a loan. He could only get approved for $300,000.” That’s when he thought about nurses, firefighters, police – all unable to buy a decent house for their families. And Friga decided to take action.
What he came up with was a 1364 sq ft living, 1690 total 3 bed 2 bath open floor plan. And he wanted it turnkey. Permits, realtor fees, the lot, everything all upfront and one price. And he’s doing it for $279,900. Here’s the floorplan.
This Southwest Florida Builder is currently acquiring land to build his homes.
“We own 11 lots and have offers in for about 20 more.” And construction has already started. He’s been buying lots where he can get a good price, currently that’s been in Lehigh Acres. Buying from individuals that inherited land, or people that were holding onto property to sell at a later date. Friga mentioned that he would also like to build these in Cape Coral, if he can get the pricing he wants. His desire is to sell these new homes for $279,900, or lower.
“I’m negotiating with people to get my costs down. If I can save 5 grand on lumber, I’m going to charge $5,000 dollars less for the house,” Friga remarked. Above all, he is trying to help families get in on the American Dream, but one thing that’s not in his plans, is selling in bulk to investors.
The Southwest Florida builder stated, “Somebody came at me looking to buy 10. What, so he could turn around and rent them for $3,000 a month? That’s not why I’m doing this.”