Population Growth Fuels Columbus Building Boom | Columbus Ohio Real Estate | Buyer's Resource Realty Services

Population Growth Fuels Columbus Building Boom

columbus building boom Andrew ShowColumbus has become a magnet for young adults seeking housing affordability and career opportunities. Between 2010 and 2018, population growth in Columbus has exceeded 13%, bringing an economic boost that shows no sign of slowing down.

Powerhouse tech employers such as Facebook, Google and Amazon are expanding their presence in the Columbus Metro, while 300 other development projects are in progress. According to a report by Construction Dive, the Columbus Metro has over $4 billion in new development starts this year, including residential housing, commercial property and public works projects.

As of August 2019, non-residential construction activity is up 38% compared to last year. Residential housing starts are up 6% year-to-date. New housing development has been taking place in the Columbus suburbs and in previously overlooked areas within the city proper. Among the most notable is the Scioto Peninsula project, a $500 million mixed-use development that will add three residential buildings, two hotels and an office building.

Ohio State University is part of the building boom, with projects worth $2.4 billion slated during the next five years. Meanwhile, a new $300 million soccer stadium for the Columbus Crew has broken ground in downtown Columbus. New medical facilities, retail centers, restaurants and professional services are in the works throughout the area.

For Columbus home buyers, the boom can be a mixed blessing. On one hand, you can reasonably expect your home value to improve if you buy wisely, and if the local economy remains strong. But with home demand still outpacing supply, home prices have been steadily rising, creating a higher barrier to entry for first-time buyers.

Fortunately, having the guidance of an Exclusive Buyer’s Broker can help you navigate our ever-changing real estate market! As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services, www.buyershome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

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