How Can Businesses Help Solve The Housing Crisis?

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How Can Businesses Help Solve The Housing Crisis?

No one can deny that there is a housing crisis. It doesn’t matter where you because you will see the same problem – a lack of affordable housing. London, New York, Tokyo; it is happening in every major city on the planet. Most people see it as the city’s fault that they should fix alone. Indeed, local authorities can do more to help ease the pain. But, it isn’t only the cities and towns which need to do more. Businesses that build the houses need to do more, too, and here are a few ways they can.

Use Unconventional Space

The web page CochranEng.com/our-services/environmental_geotechnology is right when it says there is a lack of potential building sites. Well, it is correct to a degree. Traditional plots aren’t as ubiquitous as the once were in the past, of that there is no doubt. However, there are spots which aren’t traditional or conventional that has plenty of potential. Even though they might require a bit more preparation, they can host a plethora of projects. The land is also cheaper, and that will lower the overall cost of the properties. Companies must understand it’s in their interest as well as the customers to think outside of the box.

Build Smaller

There is nothing wrong with a small house. In fact, there are essential if there is nowhere else to turn. To be fair to the builders, this isn’t just their fault. Buyers don’t want to buy small properties, so the contractors have to make them bigger. The problem with this tactic is that it takes up too much room. One house could realistically fit two properties on the same plot, and it wouldn’t take much downsizing. If the supply outgrows the demand, the cost will decrease. But, it won’t fall so steeply as to cause a profit problem. All in all, it’s a win-win situation.

Monitor The Buyers

Now, this might come across as a touch Orwellian, but that isn’t the case. The fact is that certain groups don’t need particular properties. The older generation, for instance, has no need for a five bedroom property if they live alone. Properties like that should go to the people that need them the most. The only way to make this happen would be to analyse the buyers and their needs. If they fit the criteria, the owners should be happy to accept their bid. In theory, it should free up more suitable properties.

Don’t Build Fresh Homes

www.houzz.com points out that every contractor has the same idea – construct new houses. However, there is no need to create new homes when properties already exist. Some people this is stupid because there isn’t enough supply in the first place. It’s true that the supply is low, but properties exist which aren’t in use. Dilapidated and derelict homes have lots of potential as long as builders are willing to play the game. And, they should be as they are quick to turnaround and cost-effective.

Everyone can do more to fix the housing crisis, and that includes property builders.