Before digging the first foundation or putting up the first walls of a new home, developers have done their research to make sure someone is going to want to buy that size home in that neighborhood for that price.
When planning a subdivision, developers research community studies, demand projections and local sales records to help figure out the right type of homes to offer. If that work isn’t done, developers could be stuck with an empty neighborhood where homes don’t sell for years, they said.
That’s why Arbor Homes is walking away from a subdivision proposed for Whiteland after the town decided not to approve new rules allowing smaller lot sizes. The company targets homes costing about $165,000, and the requirements in Whiteland would have forced them to build houses topping $200,000.