Hanover homes could soon become cheaper - NBC12 - WWBT - Richmond, VA News On Your Side

Hanover homes could soon become cheaper


Hanover County is hoping to spark new home projects by getting rid of a construction fee.

The recession really slowed down home construction and this means buyers could pay thousands less for a new home. 

Chris Balducci has been building homes in Hanover County for 27 years.

"It's a different world," Balducci said. "Five years ago, things were just busting at the seams to a very, very, very slow pace at this point in time."

He has to pay nearly $20,000 to the county every time he completes a home. That flat fee is then passed on to the new homeowner.

A new committee in Hanover will try to figure out how to rid of this fee. Many hope this will help people like Balducci build more homes - and more importantly, invest more money in the community.

"To knock off that much off the cost of a house, would it help? Absolutely," he said.

Right now the money collected every time a new home is built goes to pay for libraries, Fire and EMS as well as roads. Now this new committee will have to figure out where it's going to be able to make up that money.

Balducci says more people will be able to afford a home if he can knock $20,000 off the price tag. He says this won't cure everything that's wrong with local home construction - but it can't hurt.

"We've been hit with so many negatives in the last four, five years or more," he said.  "Anything in the right direction would be a positive. This would be a huge step."

This new committee will be made up of developers, members of the planning commission, board of supervisor members and regular citizens. County leaders hope to figure out a way to get rid of this tax by the end of the year. 

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