FAQs

Affix's goal is to create starter homes, in a price range that is between 80-100% of the Area Median Income (AMI).

100% AMI means that the home will be affordable to individuals or households earning the median salary for a given area - in other words, earners at the midpoint of a region's income range.

Some examples of individuals who may fall into the 80-100% AMI range could be recent college grads, teachers, dental hygienists, or physical therapists.

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This 80-100% AMI group makes up a significant percentage of the American population. For example: in the Denver-Aurora-Lakewood Metropolitan Statistical Area (which extends into the mountains, up to the eastern edge of Summit county), approximately 15% of the population falls into the 80-100% AMI range. This is the second largest of any AMI group in the region, second only to the 100-120% AMI group, which makes up roughly 19% of the population in this region (Source: ESRI).

Despite the fact that the 80-100% AMI group is a significant segment of our population, they have become underserved, due to a myriad of reasons, including rising construction prices, restrictive zoning policies, and general resistance to change.

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Traditionally within the Commercial Real Estate industry, "Affordable Housing" refers to housing which is subsidized by the Federal Government, and serves individuals who are earning below 80% AMI . Affix has no plans in the immediate future to use federal subsidy.

Colorado's mountain and resort regions have a severe need for entry-level homes. It is harder to build in mountain regions due to issues like harsh winters and difficulties finding reliable construction labor. The severity of the issue has prompted municipalities to explore more creative ways of solving the issue, and we look forward to partnering with a solutions-oriented municipality.

That being said, Affix hopes to eventually be a proven solution which can be applied in cities as well.

Our initial prototype is planned to be a land sale model, because that model is simpler, easier to execute, and requires fewer parties to be involved. The land sale model can work for infill projects as well as multi-tract developments, so we will use this as our "Minimum Viable Product."

The ground lease model is an option we would like to pursue in the future. It could enable us to achieve long-term affordability, and possibly even deeper affordability for our homeowners - especially if the land was part of a community land trust. This option would require property management personnel, and more parties involved.

It is the monthly fee paid to rent the location where your home is placed, in the event that you own your home, but not the land that your home sits on. It is similar to renting a boat slip - you own your boat, but pay a monthly fee to the marina to keep your boat docked, and use the included amenities.

Traditionally, the only way to get money out of a home investment was to refinance the home, or sell it. Today, homeowners have another option for making money on their home, while they live in it, thanks to short-term rental (STR) services like AirBnB. After interviewing over 100 prospective homebuyers, the Affix team was surprised to find that 100% of individuals interviewed did not find a ground rental scenario to be a deal breaker, as long as there is the option to rent out all or part of the home on a short-term basis.

This makes sense, as it gives the homeowner an immediate way to make money on their home investment - not having to wait until they refinance or sell the home.

Plus, many of the buyers we interviewed identified the down payment as a significant hurdle to ownership. If the home buyer does not need to buy expensive land, the required down payment will be lower.

The ground lease model would provide a more accessible "in-between" step for those looking to transition from apartment living, into traditional home+land ownership.

A bivouac (aka "bivy") is the simplest form of temporary shelter in the backcountry.

In an Affix home, the “bivy” is an area that can be locked off from the rest of the home, with its own bedroom and bathroom. It can be accessed directly from the outside, making it a great way to rent part of the home out on a short-term basis, if desired.

We’ve interviewed over 100 potential first-time home buyers, and all of them indicated that they like the idea of being able to easily rent out a portion of their home from time to time (this is especially attractive to those individuals located in mountain resort regions).

Through our analysis of trends in short-term rental (STR) legislation nationwide, we've observed a growing number of cities imposing restrictions on short-term rentals in properties owned by absentee landlords (aka people who rent out a home that is not designated as their primary residence).

The aim of such regulations is to ensure that housing in these areas primarily serves local residents, rather than becoming predominantly occupied by tourists. Under these new laws, short-term rentals are typically allowed only in properties where the STR license is held by a primary resident.

Most municipalities do not have a desire to entirely outlaw short-term rentals, as it is another source of tax revenues - their goal is simply to ensure that housing stock remains available for primary residents.

Affix is aligned with this vision.

The bivy design allows the homeowner to reside in the main part of the home themselves, while renting out the bivy area on a short-term basis.

In some jurisdictions, long-term renters are also allowed to hold an STR license (if the homeowner allows it).

We have been careful to consider all these scenarios in the design of our homes, and look forward to educating potential homebuyers on the best way to obtain an STR license, if desired.

Once construction is completed, there is no difference between a prefabricated International Residential Code (IRC) home and a traditional site-built IRC home.

As the name implies, the only difference lies in where the home is assembled. A prefabricated home is built in a factory, rather than on-site.

There are several different types of prefabrication, but Affix is pursuing volumetric prefabrication, meaning that the entire finished home will travel down the road, and will be dropped on the foundation pad as one piece.

Affix is pursuing manufacturing teams who are able to build to both HUD and IRC standards. Our initial prototype is planned as an IRC project, but we look forward to having the flexibility to use several different zoning types as we expand.

Of course the details of zoning codes are differ in each jurisdiction, but generally speaking the Affix system can be applied to several types of residential zoning types, including duplex zoning or single family zoning types that allow for accessory dwelling units.

With the right manufacturing partner who can build to either IRC or HUD standards, we can also utilize mobile home zoning.