The housing market has truly begun an upward trajectory in the Myrtle Beach area, including most of the Grand Strand region. We are seeing an increase of foot traffic in our model home in WATERBRIDGE and we are learning many people are beginning to “kick the tires” on the idea of home buying again.
One of the trends I am seeing as I host people in our model home, that many are in their last push towards their dream home. They don’t just want another tract house or pre-fab home. They also are not interested in a re-sale. What many in the market in this population are looking for is a tailored house design and build. I want to share four different factors in custom home building that may help your process in knowing when to chose a builder, buy a lot, sign a contract and dig in with your big decision. As a custom home purchaser, knowing when to lock in for the home build process can make a difference on many levels.
- Control Of Decisions
- Prices- Simply every year as with most fields, prices go up. As the market increases, supply and demand play a role. Although some goods remain constant, most of the supplies in building increase every January 1. Therefore the quote on a 2017 house will not be the same headed into 2018. This is not to rush a buyer, but it is a factor that those ‘kicking the tires’ on home buying, especially in the custom home industry must understand and deal with.
- Availability/Land- While we are able to build on any lot of land and there are plenty of lots/land in Horry County and the beach area, as time goes by, lots that were once plenteous in custom home developments are significantly reduced as people take the first step in building their dream home, purchasing the lot in which they build. Many HOA’s are offering a relaxed time frame in which lot owners are forced to build by. Some have removed all restrictions. Premier lots and often the best ones are snatched up quickly. So one thing to consider if you know the community in which you want to build, it is a good thing to consider purchasing your lot while the market is on the uptick. Of course markets go up and down, but if you want to build in the next 1-5 years, it may be something you want to consider. In this market, trends show prices are going to be on the upswing.
- Delivery- Custom Home Builders are mostly not nationwide companies. I believe that is a good thing. When you go big box on everything, you may get speed and replication, you often lose charm and quality. I have always been a big box grocery chain shopper to save money and maximize take home goods, but even I have become more interested in the smaller grocers and produce stands. It takes longer to shop at several locations but I have become a believer that the shopping experience is not as draining and the quality of food is better for our family health. As the market grows, Custom Home Builders cannot just throw together houses. There is a delivery threshold. Making sure to link up with a builder that is poised to handle growth but not to “overgrow” will be advantageous. This is all a delicate balance but you can be sure in the months ahead the demand for custom homes and custom home builders will be increasing.
- Control Of Decisions- The best time to buy a car is when you don’t need one. You are in control. You are not moved by specials, or discounts unless you are ready. You don’t “HAVE” to buy, but you can investigate and watch for a season. I think the people who most enjoy the custom home building process are committed to building a dream home, but are not in a hurry. Having time to make decisions unhurried, means less regret later. You can investigate different builders. Compare how they frame, put up sheetrock, finish, design, serve the customer with communication etc. Of course life doesn’t always allow us this kind of freedom, but if we can control it, we should make sure we investigate what it is we are looking for in a builder and then watch their delivery.
These are a few common factors to think about when you are beginning to think about building your own home. Many of these factors go out the window when buying a resale home or a tract home. All things are not equal in home buying across the different types of homes and home builders. Custom Home Building is a very different type of process than simply buying a new home. I hope you have excellent success in your journey and please contact us at Suriano Homes if you have any questions. Our sales team is available Monday- Saturday each week to spend time and work through all of your questions. Let’s build!