Key Takeaways:
– Welcome Homes is a hybrid homebuilder and proptech company that aims to efficiently build, market, and sell homes.
– The company announced two new products: the “Make-an-Offer” tool and an AI-backed land analysis report.
– The “Make-an-Offer” module allows users to collate land and home information in a single transaction environment, similar to rideshare apps.
– The AI land analysis report provides a data-rich breakdown of everything happening on and around a potential build lot, reducing analysis time from weeks to seconds.
– Welcome Homes is an online home builder that uses web technologies and digital workflows to customize the construction process.
– The company received a Series A investment of $29 million in January 2022.
– Welcome Homes currently operates in several states, including New York, New Jersey, and Georgia.
inman:
Welcome Homes, a hybrid homebuilder and proptech company, announced its new “Make-an-Offer” module and an artificial intelligence-backed land analysis report on Wednesday.
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The real estate market needs more homes, and the more efficiently they can be built, marketed and sold, the better.
That’s the stated goal of Welcome Homes, a hybrid homebuilder and proptech company that on Wednesday announced two new products, the “Make-an-Offer” tool and an artificial intelligence-backed land analysis report.
“Homebuyers, contractors, civil engineers, municipal authorities — incentives across these groups are not aligned,” CEO and co-founder Alex Hartman said said in a statement. “Our technology can be the through line that eliminates friction and improves collaboration throughout the new home construction process, making it a more fruitful, and less stressful endeavor for all parties involved. Technology is the key to eliminating the housing crunch.”
The company’s “Make an Offer” module is an online experience for collating both land and its improvements — the home — in a single-transaction environment. The company equates the process to rideshare apps, with responsive builders prepared to act and a managed marketplace for selecting finishes, appliances and interior needs. Users can accept and reject offers with minimal app interactions.
The second update, AI land vetting, offers users a concise, data-rich breakdown of everything happening on and around a potential build lot.
“Using predictive, AI-powered models, Welcome Homes can now automatically determine the buildability and estimated build cost for any given property,” the statement reads. “Welcome’s AI models are trained on thousands of site assessments created by [an] in-house team of civil engineers.”
The use of AI has collapsed the land analysis to seconds, an impressive reduction of typical manual plot analysis, which often requires weeks of due diligence. The company already has more than 19,000 buildable, pre-vetted lots ready, it said, marking a 2,500 percent increase since the integration of AI modeling.
Welcome Homes is an online home builder, using web technologies and digital workflows to market and customize the construction of a variety of home models. Pricing is transparent, communications frequent and the overall transaction experience is designed to fill in the many potholes that accompany legacy construction processes, concepts that company CEO and co-founder Alex Hartman said are critically needed in residential construction.
In January of this year, Welcome Homes announced a Series A investment of $29 million from Era Ventures. The round closed in September of 2022.
Inman reviewed Welcome Homes’ buying experience shortly after its 2021 launch. “Everything from cabinet color to primary bathroom floor materials can be reviewed and ‘experienced’ through a web browser,” the review states. “The experience is deliberate and reactive, immediately showing a user how changes compare and most importantly, what they’ll cost.”
The company currently operates in New York, New Jersey, Connecticut, Maryland, Pennsylvania, Delaware, Virginia and Georgia.
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Property Chomp's Take:
Welcome Homes, a hybrid homebuilder and proptech company, has introduced two new products aimed at streamlining the home construction process. The "Make-an-Offer" tool and an artificial intelligence-backed land analysis report are designed to improve collaboration and efficiency in the real estate market.
The housing market is in dire need of more homes, and Welcome Homes aims to address this issue by leveraging technology to simplify the construction, marketing, and selling of homes. The company's CEO and co-founder, Alex Hartman, believes that aligning incentives across various groups involved in the home construction process is crucial. By eliminating friction and improving collaboration through technology, Welcome Homes aims to make the process more fruitful and less stressful for all parties involved.
The "Make-an-Offer" module is an online experience that allows users to collate both land and home details in a single transaction environment. Similar to rideshare apps, responsive builders are prepared to act, and a managed marketplace is available for selecting finishes, appliances, and interior needs. This module allows users to accept or reject offers with minimal app interactions, providing a seamless experience for homebuyers.
The second product, AI land vetting, offers users a concise, data-rich breakdown of everything happening on and around a potential build lot. Using predictive, AI-powered models, Welcome Homes can automatically determine the buildability and estimated build cost for any given property. This process, which previously required weeks of manual plot analysis, now takes just seconds thanks to the integration of AI. The company has already pre-vetted over 19,000 buildable lots, showcasing a 2,500 percent increase since the implementation of AI modeling.
Welcome Homes operates as an online home builder, utilizing web technologies and digital workflows to market and customize the construction of various home models. The company prioritizes transparent pricing, frequent communication, and an overall transaction experience designed to eliminate the challenges associated with legacy construction processes.
In January of this year, Welcome Homes secured a $29 million Series A investment from Era Ventures, highlighting the promising potential of their innovative approach. The company currently operates in several states, including New York, New Jersey, Connecticut, Maryland, Pennsylvania, Delaware, Virginia, and Georgia.
Welcome Homes' commitment to leveraging technology to improve the home construction process is commendable. By providing tools such as the "Make-an-Offer" module and AI land analysis, the company aims to alleviate the housing crunch and make homebuying a more efficient and less stressful experience for all parties involved. With the real estate market in need of more homes, Welcome Homes' innovative solutions can help meet the demand and streamline the construction process.
