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Important Changes in New Construction
Manage episode 178338701 series 1110201
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Today I want to share an observation that could affect you if you’re thinking about buying new construction.
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Buying a home? Search all homes for saleRecently I talked to an interesting young man who had an observation, rather than a question, that I would like to share with you today.
This young man is a commercial property builder, while his father builds residential homes. They have a company together that works all over the Triangle area and they have found that the labor force is tightening.
There is a lot of building going on, which means the competition for roofers, framers, drywall installers, and others is pretty steep.
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With demand for these laborers so high and the supply so low, builders have already started building the extra cost of labor into the prices of commercial properties. Residential homes are expected to follow suit in the near future.New construction homes could get more expensive in the near future to compensate for labor costs.
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So, if you’ve been thinking about buying new construction, now might be better than later.
If you have any questions about buying new construction or if you have any other real estate questions, please feel free to give me a call or send me an email. I look forward to hearing from you!
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