OREM — Since they married 14 years ago, Gerry and Theresa Rico have dreamed of owning a home.
They rented: First in Southern California, then for the past seven years in Utah, where housing prices are cheaper but still out of reach.
But now, the Ricos have gotten a reprieve from high housing prices through Habitat for Humanity of Utah County.
On Friday, the Ricos, with their children Shannon, 11, and Gerry, 5, broke ground on a house that they'll move into within a year.
The family will provide 500 hours of "sweat equity," or manual labor, on their home.
Utah Valley State College's building construction and construction management students will also help raise the house — with footings, basement, floors, walls, roof, framing and finishing carpentry.
With minimal labor costs and a free lot — Habitat for Humanity purchased it through grants and donations — the Ricos will save roughly 30 percent of the construction costs.
Habitat for Humanity will additionally arrange for an interest-free mortgage, which will save the family thousands.
"This is a blessing for us," said Gerry Rico. "We wanted to get into our own house for a long time. I'm so grateful."
Housing "has gone up radically in the last years," Orem Mayor Jerry Washburn said. "Incomes have not kept up."
The median income in Orem is $46,700, but the median housing price is $225,000, he said.
"We need to do things like this more and more," Washburn said.
The project, UVSC President Bill Sederburg said, will fit the school's new educational model of planting the school's resources in the community.
The new educational model is the result of a visit six months ago by top UVSC administrators to Northern Kentucky University, a school recognized for contributing to community and economic growth.
The Ricos' 1,100-square-foot home will have three bedrooms and 1 1/2 bathrooms .
Gerry Rico works as a painting contractor; Theresa Rico stays at home with the kids.
"The challenge is the house payments are more than we can afford," said Theresa Rico. "Credit has to be immaculate unless you have a huge down payment or a huge monthly payment."
Rico estimates a family needs more than $1,000 a month to afford a payment, insurance and taxes in Utah County these days.
"It's probably a good $1,400," she said.
For the past seven years, the family has rented for $575 a month.
Theresa Rico realizes her house payment will likely be more.
"It will always be worth it because it will be our own," she said.
E-mail: lhancock@desnews.com