January 19, 2009
To Build or Not to Build...
In a housing climate like the current one, bulging with one of the largest inventories in years begging to be purchased and offering rock bottom prices, why would anyone want to take on the huge task of building a custom designed home? Aside from the traditional answers of 1) getting exactly what you want in a home and 2) everything being brand new and hassle free, there are some building advantages for the buyer that have been created by the housing decline.
- Prices for basic materials, such as lumber, insulation, brick, concrete, and drywall, have lowered over the past year with the decreased demand for building. For some builders who stock pile building materials and have an excess inventory due to this lull, they may be anxious to get rid of some inventory at lower costs.
- The prices of vacant land, similar to single family homes on the market, have also decreased. Many sellers are extremely anxious to close on vacant properties that they may have had on the market for two years or more. Some developers who bought up land in the housing boom, anticipating a large building demand that did not happen, are also desperate to unload some of their inventory at attractive prices.
- Labor costs have decreased in an effort to stay competitive with the deflated market and keep people working. Some builders, anxious to keep their carpenters on the payroll, are willing to work for less. The very availability of contractors is excellent; for the first time in years, you can get them on the phone! Instead of merely ‘fitting you in', many are thankful for work and have more time to spend on your designs and desires. These days you will find most builders responsive, fast and efficient at submitting competitive bids, and sharpening their pencils to get your business. Some are offering free upgrades as incentives to build.
Posted By: 
Julie Sarton
Tagged With:
building custom home,
vacant land,
walworth county
and wisconsin builders
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