• Invest in product design. Use this time to make certain you are creating and producing the best possible product that beats your competition. Look at your existing designs with a keen eye and innovate and update your plans accordingly. In order to stay on the right track, conduct market research to make sure you are building what your target buyers want to own.

Use this information to incorporate thoughtful changes that improve your product offering. And more than ever, it is imperative to incorporate sustainable and efficient technologies that make homes and buildings more livable, green and energy efficient. This is becoming increasingly important to the consumer, and only those builders who meet these market demands will see growth.


• Investigate all financing options. Financing has been a significant struggle for every builder, so it is important to explore a wide range of financing alternatives. With the credit crunch putting a damper on borrowing, industry professionals need to think outside the box.

There are ways to get deals done in this market. It requires having an absolute handle on your costs and being able to deliver a complete financing package on short notice. Although expensive, there are many sources of private financing in the market and many of those sources are struggling to put all the money they have set aside for investing to work. If you can demonstrate that you are organized and capable of execution, you may be surprised by the availability of money. 

Over the course of the last two years, it has been necessary to implement a myriad of changes to ensure a successful future and meet the ever-changing demands of the real estate market. Many people think doubling their marketing budget and re-branding the entire company is a reckless approach during such tough times, but companies who heed this advice will be well poised for the market rebound.

Doing everything from internalizing the sales department to adding key personnel to aggressively pursuing quality land for purchasing and developing new home plans and concepts has made all the difference for several small and midsized builders already.
What is the point of surviving the downturn if you are not prepared to thrive in the post-recession economy? The lessons you can learn today will become the foundation for robust business going forward.

David Sinkey is a principal at Boulder Creek Builders, a Louisville-based patio homebuilder with five communities along the Front-Range. He can be reached at dsinkey@livebouldercreek.com or 303-544-5857.