RENO, Nev. (KOLO)- The Toll Brothers are building the Stonebrook development near Spanish Springs, where homes have a more favorable price compared to other luxury homes that they have built in the past.
The need for more affordable housing continues, but this luxury home builder is helping many like Phillip and Diane Williams find a price that fits their budget.
"The houses are also roughly 30 thousand dollars less expensive for the same house in Reno," said Williams.
The Williams moved from Northern California to retire in what is now their new home, in the Toll Brothers Stonebrook community. They said while prices are high in Northern Nevada, they do not compare to what they used to call home.
"7 to 8 hundred thousand where we came from, for a basic home. For something like this? Oh no, this would be more, this would be 9 hundred thousand," said Williams.
This development offers three different options in the Sparks area, near La Posada Dr. Prices, begin in the mid 3 hundred thousand dollars for a luxury 3 bedroom and 2 bath home.
Senior Sales Manager Katie Leydecker said, as our growing economy is bringing in a diverse population, they want to be sure to make it easier for all home buyers.
"Our in house lender does have the ability to have many different loans, like our doctor loan, FHA loan, VA loans, and can lock in interest rates for quite a long time that most lenders can't. So not only do we build a luxury home, but we also have many different products that will help every buyer looking to purchase," said Leydecker.
The development consists of three communities, bringing in nearly 21 hundred houses. Williams called it a win-win situation.
"It gives us the option to plan what we want to do, spend what we want, and just start enjoying life and being retired."
Experts tell me as larger companies are calling Northern Nevada home, the cost of living will continue to rise. The Toll Brothers claimed they are hoping to ease the struggle one lower price tag at a time.
The developers praise both Reno and Sparks city leaders plus EDAWN for attracting new businesses to our area.
Copyright KOLO-TV 2019