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Market Snapshot
Norfolk & Newport News features many of the best home builder communities in Virginia, but finding lower priced homes has become increasingly difficult. In the last few years, the cost of building a new home in Norfolk & Newport News has increased substantially. Despite the rising trend of housing prices, it’s still possible to design and build an affordable home in the Norfolk & Newport News area. In fact, there are 2 communities and 2 builders in Norfolk & Newport News with homes starting at under $250K.
How to Find Homes in Norfolk & Newport News for Less than $250K?
Many builders recognize there is growing demand in the Norfolk & Newport News area for homes under the $250k price point and often have a few floor plans available, but these may be in limited supply. To ensure affordability without compromising on the quality of the home, builders may utilize value engineering techniques to reduce the cost of construction and keep the price of the home as low as possible. This may include building on a smaller lot or utilizing standard-sized materials, such as windows and doors, that provide high-value for the cost. The results are delivering similar quality at lower prices.