So what's the big deal?

Proximity to New York City, the Hudson River, Transportation, and a phenomenal school district have exponentially increased the cost of living and the cost of owning a home.

Part of the American Dream as well as the social norm has become the privilege of being able to own property.

High property prices and taxes have striped individuals from that right and has made it difficult for people to find a place to call home.

Not being able to own property also has financial implications...

Individuals living on rental estate or elsewhere, are unable to invest in their own property.

The amount of money paid toward mortgage accrues in their landlords' packets, rather than building equity towards their home and mortgage.

Finally, available housing in Dobbs Ferry is scarce and of little quality. Homes are generally over four decades old and are seccumbing to structural and cosmetic wear.

A home provides financial security, and a tangible object of monetary and sentimental value.

How is this going to be solved?

This project proposes one solution to the crisis at hand. It will allow new homeowners to purchase a home at a reasonable rate, and prevent others from having to pay huge mortgages on property.

By securing low-cost land and constructing basic houses of good quality materials and labor, this crisis can be solved.

Let's look at the land and crunch some numbers...

So how long is this going to take?

Anywhere from 6 - 12 months

The scale of this project is the largest factor in the timeframe.

Environmental conditions, failure to acquire land, and denial of municipal zoning and building permits will increase this time frame.

How much is it going to cost?

The primary step and generally most difficult task in any construction project of this caliber is securing land at a resonable cost.

Secondly, the construction cost or the labor and materials largly impacts the final cost of the property. The aim of this project is to keep housing cost low, so materials of medium grade and quality have been choosen.

Houses do not have to be created for luxury, but rather for a family oriented build.

Land

Construction

 

Total

$50,000

$335,000

 

$385,000

Total Cost

Square Feet

 

Cost per Square Foot

$385,000

$3,300

 

$117

Cost per S.F. in Dobbs Ferry

Cost per S.F. in this project

 

Percent Difference

$380

 

$117

 

69%

Current cost of home of this size in Dobbs Ferry is approximatly 1.2 to 1.8 Million

Benefits to the Community

As a symbol of independence and freedom, a house provides financial security, and is considered a step of maturity for growing individuals and families.

Families that will own these homes will bring a diverse set of skills and talents into the community.

They will pay taxes which will benefit all the community members.

This project will increase property value of neighboring houses due to an inflow of new and potential homebuyers.

Although it will have benefits to the community at large, it will also benefit individuals who are buying the housing.

They will come under less financial burden to own a home, and will have a selection of new constructions that will last for decades.

Helping secure low-interest, or no-interest government subsidized loans will allow the builder to secure land and building materials at a reasonable rate.

The local government can also take burden of some of the costs of this project because it benefits the members of the Dobbs Ferry community directly and indirectly.

A detailed proposal of the project would be required to get government assistance.

Finally any outstanding costs must be taken on by the building through business loans and federal programs.