Alden Construction is an LLC, we are 7 years old and growing post COVID, but would like to raise capital to take us to the next level. Meaning equipment, inventory, personnel, etc.
We are looking to shift the way homes are built. By moving the build process inside (a controlled, inside environment), we accomplish two things - the ability to work year-round without any lost days to weather and we can produce a framed house in a shorter time, with higher quality than the past. Many larger or modular homes are built this way, our goal is to bring it to homes that aren't as big, or as complicated. This will also help turnaround. Products can be shipped flat and installed on a foundation that has been poured to fit the home. The "package" would include plans, complete framing materials and instructions for a General Contractor.
The idea definitely has merit as less expensive homes are difficult to produce economically. There is an enormous hole in the market for these homes...$500,000 and less. We would have the ability to specifically target this market, with a product and idea that is approachable price-wise and is also scalable and possibly franchise ready. The market for our revolutionary build process includes builders, homeowners, retirees, and first time home buyers, We intend to work directly with financial institutions to gain traction and leads from their prospective clients. We expect to target home shows and trade shows that put us in front of this highly overlooked market as well as our peers in the construction industry.
As detailed in Forbes Advisor (https://www.forbes.com/advisor/mortgages/real-estate/housing-market-predictions/) Forbes predicts among other things, that despite the signs that new home prices are starting to weaken, the affordability crisis will continue due to diminished housing inventories, higher interest rates, and sales prices moving beyond the 2022 median of $413,800. This inability to own is reflected in the following statistic from that same article. First time home buyers earning $64,500 can afford a home in the $243,000 range. While earners of $75,000 can afford a home of 256,000. This means the dream of a new home is out of reach for a large portion of people who'd like to buy.
Our goal is to change the paradigm of our industry and focus on these individuals and help them get into their first home, or for others being able to afford down-sizing to a smaller home.
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