Affordable New Construction Homes in Colorado Springs: What You Need to Know Before You Buy
Thinking about buying a house in Colorado Springs but feeling discouraged by rising home prices? You’re not alone. We’ve talked with tons of buyers who are eager to make a move but feel stuck because of affordability concerns. The good news? You might be overlooking a smart solution that’s gaining popularity across the Springs — brand new construction homes that actually fit your budget.
In this article, we’re diving into affordable new homes in Colorado Springs that offer real value, solid incentives, and move-in ready options. We’ll walk through three key communities that are building quality homes on the city’s east and south sides — with prices often below the average home price in the area.
So if you’re on the hunt for affordable homes in Colorado Springs, keep reading. This post is loaded with practical info, honest insights, and — most importantly — a clear path forward to make your homeownership dreams happen.
Why Consider New Construction Homes in Colorado Springs?
Let’s start with the elephant in the room: yes, prices have gone up over the past couple of years. But new construction homes in the Springs are offering something that many resale homes can’t — affordability + incentives.
Here’s why buyers are making the switch:
- Builders are offering rate buy-downs and closing cost help if you use their preferred lenders.
- New homes = less maintenance. That roof, furnace, and water heater? Brand new.
- Many homes are move-in ready — no waiting 6+ months for build time.
- New neighborhoods come with amenities like pools, gyms, parks, and trails.
- Prices are often under the citywide median (currently around $550K–$560K).
Let’s take a look at three standout neighborhoods offering affordable new construction in Colorado Springs right now.
1. The Ascent at Woodmen Heights – Challenger Homes
Location: East Colorado Springs (School District 49)
Price Range: Below $500,000
Tucked into the growing east side of Colorado Springs, The Ascent at Woodmen Heights by Challenger Homes is turning heads — and for good reason.
🔑 Key Features:
- Incentives galore — including low interest rates (some as low as 4.99%) and help with closing costs.
- Air conditioning is included (yes, really).
- HOA includes a pool, gym, and playground, and fees are surprisingly reasonable.
- 3- and 4-bedroom homes available.
- Homes are move-in ready — no construction delays.
Now, while these homes don’t have basements, the livable space inside more than makes up for it. Floorplans are open, bright, and functional. The homes come in pre-set packages (think: “Here are 3 stylish finishes, pick your favorite”) — so while there’s less customization, there’s also less decision fatigue and more cost control.
Perhaps most importantly: all homes in this community are priced under $500,000 — significantly below the city’s average.
📍 Bonus: This community is in District 49, one of the fastest-growing school districts in the region — backed by increasing state funding and long-term growth.
2. Banning Lewis Ranch – Oakwood Homes
Location: Just off Woodmen Rd (School District 49)
Price Range: Mid-to-high $400s
We’ve talked about Banning Lewis Ranch before, but it’s worth revisiting — because Oakwood Homes, the developer and builder for the area, just opened a new filing (aka: more lots + fresh inventory).
🔑 What Makes It Stand Out:
- Tons of available lots, thanks to Oakwood being the developer.
- Generous incentives for buyers who use their preferred lender: reduced interest rates, closing cost assistance, and more.
- Packed with amenities: water park, community pool, gym, tennis and pickleball courts, dog park, open space, and community events year-round.
- Affordable pricing: Most homes hover in the upper $400Ks, making them a solid option below the local average.
Oakwood is known for streamlined design choices — instead of picking everything down to the doorknob, you choose from curated design packages. Again, this helps keep costs down and timelines short.
Banning Lewis is more than a neighborhood — it’s truly a master-planned community built around lifestyle. From summer concerts to neighborhood socials, it’s a place where it’s easy to get connected.
3. Bradley Heights – Century Communities
Location: Southeast Colorado Springs, near Marksheffel & Bradley
Price Range: Upper $400s to upper $500s
Looking for quick move-in homes and a little more space to stretch out? Bradley Heights, developed by Century Communities, might be your match.
And we’ve got to say it: if you head down there, be sure to meet Irene — she’s the kind of sales rep who makes the process not just painless but genuinely enjoyable.
🔑 What We Loved:
- Move-in ready homes available now — skip the waitlist!
- VA-friendly location — close to Peterson SFB, Schriever, and Fort Carson.
- Builder incentives available through Century’s preferred lender (including rate buydowns and closing costs).
- Lots include front yard landscaping, tankless water heaters, and quartz throughout — all standard.
- Bigger lots and larger floorplans than many other entry-level new builds.
You’ll find homes here in the upper $400s to upper $500s, depending on size, lot, and design package. And while that may be a bit higher than other options we’ve mentioned, you’re getting more space, larger lots, and upgraded finishes.
But Wait — Why Use a Real Estate Agent If Builders Have Their Own Salespeople?
Great question. This part is critical if you’re buying a new construction home in Colorado Springs.
✅ Here’s what most buyers don’t realize:
- The builder’s sales rep represents the builder — not you.
- Having your own agent means someone is advocating for your best interest every step of the way.
- Most builders pay your agent’s commission, so it typically costs you nothing to have your own expert on your side.
- Your agent can help with inspections, timelines, upgrades, lot choices, contract terms, and more.
We can’t stress this enough: even in a new build situation, you should always have your own representation.
How These New Homes Stack Up Against Resale Options
The average home price in Colorado Springs has been hovering between $550,000 and $560,000 in recent months. And while some resale homes may come in under that number, many buyers are surprised to learn just how competitive new construction homes can be — especially once you factor in:
- Builder incentives
- Energy efficiency and warranties
- Minimal immediate repair needs
- Community amenities
New builds also tend to appraise well, which can ease financing concerns.
FAQs About Buying a New Construction Home in Colorado Springs
💬 Do I need a real estate agent when buying new construction?
Absolutely. As mentioned above, builder salespeople represent the builder. Having your own agent ensures someone is looking out for your best interests — and the builder often covers your agent’s fee.
💬 Can I use a VA loan for a new build?
Yes! Most builders in the area work with VA buyers all the time. In fact, some new build communities are particularly well located for active-duty military and veterans.
💬 How long does it take to build a new home in Colorado Springs?
It depends. Some homes are move-in ready, while others take 6–8 months to complete. Ask your agent to help you compare timelines.
💬 Can I negotiate with a builder?
You typically can’t negotiate the base price — but you can negotiate for things like incentives, closing cost coverage, upgrades, or better financing terms. An experienced agent can help you navigate this.
💬 What’s included in the price of a new build?
That varies by builder. Some include AC, tankless water heaters, front yard landscaping, and upgraded finishes. Others may charge extra. Make sure you know what’s standard and what’s not.
Final Thoughts: Affordable Homes in Colorado Springs Do Exist
If you’re feeling discouraged by resale prices, you’re not out of options. New construction homes in Colorado Springs are offering incredible value — and many come in well below the area’s average home price. Add in generous incentives, warranties, and move-in ready options, and it’s easy to see why so many buyers are making the switch.
Just remember: while builders are offering great deals, those incentives can change at any time. If you see something that fits your needs and budget, it’s worth having a conversation now.
🎯 Ready to Explore New Homes in Colorado Springs?
We’re here to help you compare communities, run the numbers, and find the right fit — with zero pressure and honest advice every step of the way.
📅 Book a free consultation with us
We’ll answer your questions, show you your options, and help you take the next step toward buying a home in Colorado Springs.
👉 Schedule a time to chat with us
Let’s find your new front door — without breaking the bank.
About The Author
The team at My Front Range Living are a group of full time real estate experts serving Colorado Springs, El Paso County and the surrounding areas. Their knowledge of the local community and experience in the industry provide you incomparable value when buying or selling a home. With several years of experience in helping out of state buyers and sellers, they are the go-to team when it comes to relocating and helping Colorado feel like home. Click Here to book a consultation with us.
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