MCLENNAN COUNTY, texas — Waco home builders say a new executive order aimed at reducing regulatory barriers and speeding up permits could make buying a home more affordable..
- A March 13 executive order from President Trump aims to make homes more affordable by reducing regulatory barriers and speeding up the permitting process.
- Waco home builders say current permitting delays can extend build times by months, passing 5% to 10% of added costs onto homebuyers.
- Local real estate experts explain that building delays limit the housing supply, which fundamentally drives up the price of available homes.
- Builders expect to see the streamlining effects in six to 12 months, while a separate executive order aims to improve mortgage credit availability through smaller banks.
You can watch the fulls story here:
BROADCAST TRANSCRIPT:
A recent executive order from President Trump aims to make the American dream of owning a home more affordable by removing regulatory barriers for construction.
The March 13 executive order is designed to reduce what the president calls "unnecessary regulatory barriers" and "slow permitting processes," which builders say drive up the costs of new housing. Trump also signed a second executive order meant to improve the availability and affordability of mortgage credit by tailoring rules for smaller banks.
25 News reproter Dominique Leh met with a few home builders in Waco who said the permit process can drag out the timeline it takes to build homes.
"Instead of a project that takes 6 months or 10 months, it now takes a year because we gotta wait two month to get past that permitting process," JP Rios Owner of Res-Q Renovations said.
Corbett Faulkenbery said the city's requirements can extend timelines significantly.
"The city would send back a list of all the things that needed to be tended to, started out with a three-page list, each time it got extended," Faulkenberry said.
Faulkenberry confirmed a process that took months could have taken weeks. He said 5% to 10% of the cost gets passed onto the homebuyer.
"Time is money, so anytime you’re adding additional time to a job, you have to incorporate that," Faulkenberry said.
Mike Stone agreed that reducing permitting timelines and fees would allow builders to construct more homes faster and sell them at a lower price.
"We still have to pay insurance, we still have to pay utilities, taxes, while we’re building a house, so the longer it takes, the more it’s going to cost overall," Stone said.
Local real estate expert and Owner of Haus Realty, Cory Duncan explained that delays mean there are simply fewer homes available.
"Then those homes are going to be more expensive, if we can increase the supply of homes, then fundamentally the price per home is going to be brought down," Duncan said.
Rios said builders might not see the streamlining for six months to a year, but he is looking forward to what the order could do for builders and new homebuyers.
"There will be more lots and land available in the future that local home builders like myself we can buy a little lot and a more affordable home for someone that it looking to get something that’s new and not something they have to renovate," Rios said.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
