I get asked about new construction in Lake Oswego all the time so writing this post should answer a number of questions.
First off, Lake Oswego is a very mature community (I’m not talking about the age of the residents). The last large planned development was built in the early ’90s. The new construction we have today is what we call ‘in-fill’. A builder will tear down an old house or develop a large lot into several smaller lots. The result is a large beautiful home on a street with older homes worth much less. Normally this would bring down the property value of the new construction, but in the case of Lake Oswego, that isn’t the case. New homes are found as single ‘in-fill’ lots or in a group of 3-12 new homes forming a mini-neighborhood.
Because the land value in Lake Oswego is so high, new construction will start at about $950k, with the vast majority costing between $950k and $1.2M. The craftsman style has been the most popular in the last several years but we are just starting to see some more contemporary designs as well. Builders typically put homes on the market at the sheetrock stage or later. If you purchase early enough in the construction cycle, you can usually choose some of your finish materials. The building process takes 5-6 months once the foundation is poured.
Our offices are in Lake Oswego gives us the advantage of knowing what’s coming up before it hits the market. New construction homes are often found in the older neighborhoods of Lake Oswego, and not in the planned neighborhoods. A bonus is that the older neighborhoods often come with Lake Easements. Lake Easements (basically lake access through membership in one of the parks) run with the property and can not be purchased separately.
Below are some examples of homes currently on the market:
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