Modern Home Builder - Winter 2016 - Volume 2 - 42
sent the vast majority of our business, but we also work in Albany
County, Schenectady County and the counties west and north of
One product that is helping to further establish Belmonte Builders as a top player in its market is what the company calls its affordable luxury line. Given the competition in its marketplace, the
company competes heavily with production builders that deliver
an efficient cost per square foot product. By bringing a custom
home aspect to into the affordable luxury line, Belmonte Builders
can deliver a product option that allows the company to compete.
"We've researched what customers want and are willing to pay
for to develop our line," Affordable Luxury Director Mickey Ricciardi says. "We can include elements such as wall panels, plate
rails, built-in cabinetry and other things that production builders
don't include. We can do them in economical ways while still producing highly trimmed jewel-box styled homes."
At its ongoing Mill At Smith Bridge residential development
located a few miles from downtown Saratoga Springs, Belmonte Builders has been able to deliver homes ranging from the low
$300,000s to the mid $400,000s with a wide variety of designs
and floor plans. These affordable luxury custom homes offer a
range of amenities not commonly found in similarly priced preowned houses.
"We offer broad floor plan choices, such as ranch homes, homes
with first-floor bedrooms, and two-story family oriented homes,"
Ricciardi says. "Customers gravitate toward the plan that is the
right fit for them. We also have homeowners associations in two
phases of the neighborhood and one phase is not part of a homeowners association. This is part of a template we are developing
that we can repeat over and over again."
Staying on top of market and consumer trends will be critical for
Belmonte Builders to continue to evolve. For example, it has noticed a growing divergence in price between the resale and new
home markets. The company is competing by differentiating itself
through technology and energy efficiency.
"By looking for ways to personalize our homes, the affordable luxury series provides customization but at reasonable price
points," Ricciardi says. "We feel this complements our identity as a
custom home builder and broadens our market."
Investments are focused on bringing in the right people and establishing the right subcontractor relationships. In all aspects of its
operations, Belmonte Builders looks to be open and fair with its
expectations and compensation packages. The company feels this
helps it retain the best people, as well as forge lasting long-term
"We also try to use IT technology to its fullest to improve our
work processes," Belmonte says. "Over the next 18 months we will
look to find more qualified people to enhance our skillsets, and we
are working on bringing new communities to market in a timely
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