Consider Your Options When Building A Home

Consider Your Options When Building A Home

If you are thinking about building a new home, here are some important points to keep in mind. 

  1. NEW VS. RESALE: The inventory of newly constructed homes on the market has been declining along with the availability  of resale listings. The millennial generation continues to drive the demand for new and existing properties in order to meet the needs of their growing families and the popularity of working from home. In addition, many younger retirees are eager to downsize to smaller properties, but they want newer homes with more custom features and amenities. This means builders have an over abundance of potential buyers of all ages without enough homes starts to satisfy consumers. 

  2. COST: The pandemic and other economic factors have resulted in higher lumber prices as well as a shortage of building supplies. Rising fuel prices have also contributed to increasing cost of delivering materials to the home sites. According to the National Association of Home Builders, the cost of building a new home in 2021 has increased by an average of $36,000 nationwide.  It is wise that you take the time to research construction cost and evaluate your budget to ensure you can build the home you truly want. 

  3. ADVISE FROM A PRO: Now more than ever, it is important to seek the advise of a real estate professional when buying or building a new house. The market is unlike any other in the past, and you will benefit from the negotiating experience of a knowledgeable agent. 


Karin Waterschoot-Perez Headshot
Author:
Phone: 614-774-1741
Dated: July 7th 2021
Views: 85
About Karin: Executive Vice President of Sales Experienced Realtor, Karin Waterschoot-Perez, currently serves ...

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