While market conditions may have made it challenging for some homebuyers to purchase property, that hasn’t stopped many of them from starting families and settling down. According to Statista, “In 2021, there were approximately 44 million housing units occupied by renters in the United States. This number has been gradually increasing since 2010 and is part of a long-term upward swing since 1975.”
The real estate market has caught on and is meeting this need with an exciting new offering–build-to-rent (BTR) homes. Built-for-rent communities, like the one built by BB Living at Harvest by Hillwood, offer renters many of the same benefits homebuyers enjoy at planned new home developments. BB Living at Harvest includes three- and four-bedroom single-family homes with access to top-notch schools, a fantastic set of amenities, and a great suburban location in an up-and-coming area. If you’re in the market to rent a home in a growing DFW suburb, this primer can help you decide if a build-for-rent community is right for you and your family.
What is a Build-to-Rent Home?
Build-for-rent homes are newly constructed properties that are built expressly for the purpose of renting. They are built together in a planned community and often have shared features such as fitness facilities, swimming pools, parks, playgrounds, dog parks, and other amenities. BTR communities look a lot like any other neighborhood of homes except the occupants rent the homes rather than buy. The homes are typically owned and leased by a single property owner who maintains the neighborhood and is responsible for any needed repairs.
Demand for BTR in DFW
The Dallas-Fort Worth Metroplex has seen strong job growth that outpaces the national average. As companies flock to North Texas, bringing thousands of employees with them from all over, the demand for homes is higher than ever before. High demand typically results in higher prices which, combined with rising interest rates, can make home ownership more difficult. Built-to-rent homes are an attractive option for those who haven’t yet saved enough to buy, and also for those who want to try a new home community on for size before they make a purchase.
“The American Dream of living a suburban lifestyle in a home has arrived, giving consumers an option without the burden of a large financial commitment, ” shares D Magazine. “These BTR communities are helping to fill the gap and are changing the definition of the American Dream, which is “living” in a home versus “owning” a home.”
Why BB Living?
BB Living is one of the first to offer build-to-rent homes in the Dallas-Fort Worth area. These rental homes will be in a section of Harvest by Hillwood, which contains primarily owner-occupied homes.
BB Living features conventional, single-family homes with both attached and detached houses. All of the homes for rent at Harvest feature three or four bedrooms, attached two-car garages, private backyards and highly desirable features like an open-concept layout, stainless-steel appliances, walk-in closets, and vaulted ceilings.
These modern and spacious homes offer the perfect opportunity for buyers who are relocating and need to familiarize themselves with the area, or locals who want to experience the Harvest lifestyle before buying a new construction home.
Like many single-family neighborhoods in DFW, the Harvest community is demographically diverse and includes everyone from young professionals and families to active adults.
Frequently Asked Questions:
What is the purpose of built-to-rent?
These homes are conceptualized and constructed to be long-term rental properties and neighborhoods. They differ from condos and apartments, in that most have three or four bedrooms, and they mirror more traditional, suburban homes and communities.
Who are built-to-rent homes for?
Build-for-rent homes are constructed for those who don’t wish to purchase a home. They are ideal for folks who are new to an area and want to get a feel for where they will live before they make a home purchase. BTR communities are also an attractive alternative to financing a new home.
Experience Build-to-Rent Living at Harvest by Hillwood
Get the best of what DFW has to offer in build-to-rent living. Take a look at the single-family homes for rent by BB Living at Harvest by Hillwood! Pre-leasing has begun and homes will be ready for move-ins in October 2022! Stop by for a visit and get to know our beautiful community or take a virtual tour from the comfort of home.