Join Homes For All Now in asking local government officials to become better informed about how excessive increases in regulatory fees can make new homes less attainable.
The Issue
The increases in regulatory fees are further escalating home sale prices. Those fees already add up over $90,000 to the price of newly built homes. The higher the fees get, the more expensive new homes become.
Since the onset of the pandemic, cities, counties and school districts, among other taxing agencies, have been raising fees – including impact fees – to allow construction of new homes, townhomes, condos and apartments. The rising fees – combined with skyrocketing construction material and labor costs – are pushing home prices to new heights. That cost burden impacts homebuyers, particularly in markets like Broward and Palm Beach counties where a large segment of the population can not afford to buy a home.
Tell your elected officials we need their support to help control home prices so more residents can enjoy the benefits of owning a home.
If you would like to become involved to help make Homes For All Now more attainable, please contact the Gold Coast Builders Association.
Case Study
Drastic fee increases, like those recently experienced with the Broward School District, can have a dramatic impact. In 2020, the district proposed increasing school impact fees from $6,888 to $9,049 for three-bedroom properties and $6,888 to $12,295 for four-bedroom properties. The school impact fees are collected to build new schools to meet demand fueled by new developments. However, Broward Public Schools are seeing a consistent decline in enrollment and that trend is expected to continue until 2026, making it unnecessary to raise impact fees to build new schools. Despite objections from the Gold Coast Builders Association and the Builders Association of South Florida, the district went ahead and increased school impact fees by 25 percent, impacting home prices.
Through Homes For All Now, ask city, county and school district elected officials to become more informed about how an excessive increase of regulatory fees may negatively impact affordable homeownership opportunities for all.
Why This Matters To You
Attainability
Increasing housing regulatory fees will further raise home prices and reduce the percentage of residents who can afford to buy a new home. The ability to buy a new home is Attainability. For example, only 25.9 percent of the Broward population can afford to buy a newly-built home right now, according to Zonda.
Priced Out
Every time the price of a home is increased by $1,000, nearly 10,200 Floridians are priced out of the market, according to the National Association of Home Builders.
Our Goal is to help make more homes attainable -- Homes For All Now!
Home Inventory
Making newly-built homes more attainable for families that are looking to move up will help free up the resale of homes and increase the inventory of homes in the market. A healthy inventory of homes prevents home prices from skyrocketing due to fierce competition.
Home Prices
On a dollar basis, applied to the national average price ($397,300) of a new home, regulation fees account for $93,870 of the final house price. Of this, $41,330 is due to regulation during development and $52,540 is due to regulation during construction, according to the National Association of Home Builders.
Graphs & Statistics
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About Us
Homes For All Now is the result of a partnership between The Gold Coast Builders Association (GCBA) and Builders Association of South Florida (BASF). Members of the two South Florida-based builder associations are dedicated to fulfilling the “American Dream” of owning a home for all. GCBA and BASF are local affiliates of the National Association of Home Builders (NAHB) and Florida Home Builders Association (FHBA).
Additional Resources
What Are Impact Fees?
Municipalities assess impact fees on property developers to pay for…
Are Impact Fees Unfair?
Being treated fairly is what most people want these days. In all aspects of…
Effects of Local Impact Fees on Workforce Housing in Florida
Housing rents and home prices in many areas of the nation, including…