The 10 Challenges Home Builders Face Part 1
Project development in the construction industry is an extremely complex undertaking that requires a large breadth of skills to get right. Home building has some of the most complicated moving parts in the industry and it can be intimidating for those looking to get into home building and development. Instead of looking at it one piece at a time contractors can get lost in all of the requirements and demands and never take the steps to become a developer.
In this episode of the Mobile Workforce Podcast, we welcome Dominique Main – Director at Epcon Communities onto the show to share the top ten challenges contractors will face when building homes and how to best overcome them.
- Using data during land acquisition is a must for a successful project. What you think is a great idea and what your home buyers think is a great idea can easily be in conflict. Take the time to understand the demographics around your potential location, the desires of your focused buyer and make sure that you are providing what they want and not what you assume they would need.
- You need to mitigate risk by controlling your offerings. The consensus in the past was that the more options the buyer has the happier the buyer will be with their home. In today’s market with constrained supply chains, it is better to limit options to reliable and repeatable options that still match your optimal buyer’s desires.
- Have an outside partner. The home-building process can be very complex and lead to issues that are unseen and unpredictable. Having a partner or trusted advisor outside of your organization is a must to get through those unexpected situations and issues. Make sure to connect with someone with more experience and outside of your influence and market so they can give you truthful, usable information and insight.