Another homebuilder offers job guarantee

homeconstructionAnother Richmond homebuilder has incorporated a guarantee for laid-off buyers into the marketing pitch.

Several weeks ago, BizSense reported LINK that the programs, which started earlier this year with the car manufacturer Hyundai, are spreading into the home-building industry.

“We understand there are layoffs out there,” said Kevin McNulty, the president of Lifestyle Builders. “We are putting a product out there that helps people take advantage of the value and not have concerns about being laid off.

The guarantee, which costs Lifestyle Builders $400 per house, will cover mortgage payments up to $1,500 a month for six months. 

McNulty said his firm is not raising the price of the homes, instead lumping the expense into the overall marketing efforts.

Lifestyle Builders constructs homes in several price ranges. Marketing costs typically account for around 1 percent of a homes price, McNulty said.

homeconstructionAnother Richmond homebuilder has incorporated a guarantee for laid-off buyers into the marketing pitch.

Several weeks ago, BizSense reported LINK that the programs, which started earlier this year with the car manufacturer Hyundai, are spreading into the home-building industry.

“We understand there are layoffs out there,” said Kevin McNulty, the president of Lifestyle Builders. “We are putting a product out there that helps people take advantage of the value and not have concerns about being laid off.

The guarantee, which costs Lifestyle Builders $400 per house, will cover mortgage payments up to $1,500 a month for six months. 

McNulty said his firm is not raising the price of the homes, instead lumping the expense into the overall marketing efforts.

Lifestyle Builders constructs homes in several price ranges. Marketing costs typically account for around 1 percent of a homes price, McNulty said.

This story is for our paid subscribers only. Please become one of the thousands of BizSense Pro readers today!

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

Subscribe
Notify of
guest

3 Comments
oldest
newest most voted
Inline Feedbacks
View all comments
Scott
Scott
15 years ago

Does anyone know exactly how this works for the builder and how the $400 cost estimate is generated?

trackback
Topics about Mortgage » Another homebuilder offers job guarantee
15 years ago

[…] Richmond BizSense placed an observative post today on Another homebuilder offers job guaranteeHere’s a quick excerptAnother Richmond homebuilder has incorporated a guarantee for laid-off buyers into the marketing pitch. Several weeks ago, BizSense reported LINK that the programs, which started earlier this year with the car manufacturer Hyundai, are spreading into the home-building industry. “We understand there are layoffs out there,” said Kevin McNulty, the president of Lifestyle Builders. “We are putting a product out there that helps people take advantage of the value and not have concerns about being […]

james
james
15 years ago

For the builder it helps them move inventory and open up the ability to build again, which creates jobs. The $400 cost I imagine is what their insurance company charges them to take the risk.