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September 20, 2015

The Scoop on Stapleton’s Newest Builder – LENNAR!

Stapleton now has a 9th active home builder in the neighborhood.  Lennar will be be building their “NextGen” home series starting this month!  I had a chance to stop by yesterday and meet with their sales representative, Lori McNearney, to learn more.  Here is the Scoop:

Lennar’s “NextGen” product is what they like to call a “home in a home”.  It has all the attributes of a normal single family home but it also has an attached private unit that has everything needed for an additional family member to live there, such as a living room, kitchenette, laundry room, bedroom with walk in closet, bathroom and a private entrance!

It seems Lennar’s main target market with this product is families with an aging parent or set of parents who want to stay close but maintain some independence and privacy.  As Lennar has built this product around the country they’ve discovered that people have found other great uses for this home in a home including:

  • Home office (how nice to be close but have everything you need in your office)
  • Nanny or Au Pair living quarters
  • Teen hangout
  • Special needs child or family member
  • Man cave
  • Craft room

Lennar has 4 floor plans in their Next Gen series that they developed specifically for Stapleton and our alley loaded lots.  The 4 floor plans each come in one of 3 elevations, Prairie, Shingle or Craftsman.  The homes are 3-4 bedrooms and range in size from 2,678 sf to 3,171 sf.

The plans have pretty open concept main levels for the most part, meaning the kitchens are open to living rooms and informal dining rooms in most cases.   All of the plans have 3+ beds on the upper level which is appealing for families with young children.  Each plan comes with an unfinished basement that has 9 foot ceilings and rough in plumbing but the builder does not offer a finished basement option.  Each home has a patio outside but because of the size of the homes, and the standard 3 car garages, there is not much yard to speak of.

Here is a link to all 4 floor plans so you can check them out.

The prices of the homes will be in the very high $500k’s to lower $600k’s.  The pricing and design center selection process with Lennar is very different than other builders so it’s worth explaining here so buyers go in with the right expectations.

Lennar includes much more in their standard inclusions than most other builders so there is way less for the buyers to choose from in the upgrade process.  This isn’t to say they are better or worse than other builders, it’s just a different, more simplified way of doing things.

For example, all of these homes come with kitchen appliances (including refrigerator), air conditioning, fireplaces, granite in the kitchen and all bathrooms, 20 year prepaid solar lease, and 3 car garages standard.  Most if not all of those would be upgrades with other Stapleton builders.  Of course you as the buyer are still paying for these via the higher base price.

Once you pick your Lennar home you will make some color selections on items like flooring, countertops, cabinets etc but it’s a much quicker process because there are not a lot of options to choose from compared to a normal design center full of options.  So, if a simplified process that is less overwhelming to you is appealing this could be a good fit.  If you like lots of choices, lots of different types of materials and customization within your home this will not be a good fit for you.

Here is Lennar’s “Everything’s Included” document if you want to check out the standard inclusions.

If you do have a use for the additional dwelling unit these come with I can see them making a lot of sense.  Compare the cost of this home, which provides 2 living solutions for you, to the cost of buying a home and a second home for your additional family member.  When you make that comparison I think this option looks pretty appealing, especially given the high prices in the Denver real estate market right now.

Ok so what do you do if you are interested in potentially purchasing one of these Next Gen homes?

First, I’d love to help you as a Buyer’s Agent throughout the process if you want a real estate broker who is local and experienced in new builds on your side.  You as the buyer pay the same price to the builder whether or not you have someone representing you, they just make a bigger profit if you don’t have an agent.  So if you want an agent, whether it’s me or someone else you have in mind, get the agent involved in the process from the beginning so they can help you navigate the process.  (if you want to chat I can be reached at (720) 299-1730 or joe@focus-realtors.com)

The next step is to get on the VIP List with the sales representative, Lori McNearney.  You can email her at Lori.McNearney@Lennar.com or call her at (720) 836-4986.  To get on this VIP list you do have to also talk to their in house lender and get prequalified.  They do this so they know the people on the VIP list are serious and ready to buy.  Getting pre-qualified with their lender may not be a bad idea anyway because they offer a $5k credit for using their lender.  If you are just kind of interested but don’t want to jump through hoops you can ask Lori to put you on the interest list, which you can get on without doing the loan prequalification.

The reason you want to get on the VIP list now if you are interested is because they have 10 lots in Willow Park East they will start to release in July.  Here is a link showing the 10 lots (plus the model home which makes 11)  (BLOG POST UPDATE:  THESE LOTS ARE NOW ALL SOLD BUT THEY WILL HAVE MORE SOON SO YOU SHOULD STILL SIGN UP)  When they release a few lots they will work down the VIP list, offering the homes first to the top person on the list (based on who signed up for the VIP list first) then work their way down the list.  I think that by the end of this weekend they will have enough people on that list to buy up those first 10 homes but I could be wrong.  Since there is no risk to be on the list I’d jump on it if I were an interested buyer.

After these 10 lots, which will start being released soon, they will have about 16 future lots coming.  Lennar hopes to have a few of the first homes delivered to buyers in late 2015 but I think early 2016 sounds like a safe guess for the delivery date of most of these first 10 lots. Most of the lots will have the floor plan and exterior elevation pre-selected before the lots are released.

The Lennar model home is located at 5449 Verbena St Denver, CO 80238.  Go by and check it out!

I think this will be a perfect fit for some families and I expect Lennar to do well in the neighborhood.  Let me know if I can be of service.

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