Why build or remodel now on Hilton Head Island?
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Timing is everything. I asked my favorite builder to give me some insite on the building industry now and what are the reasons he has been busy these past few years. He took some time and answered my questions. If you have questions feell free to contact him anytime, his name is Scott Bunting and his cell is (843)384-7468 his email is SBunting@buntingcompany.com. He not only has a higher expectation of quality, he is approachable and is a straight shooter. Below are some questions and answers:
Allow me to answer your questions one at a time…
First, Why build now?
There are actually many good reasons to build right now. Think of the economy from a different more positive point of view for a moment. Subcontractor, vendor and supplier prices are very low at this time which makes building costs significantly lower than previous years. For example, the National Association of Home Builders Housing Data shows that the framing lumber prices are at their lowest, $235 per 1,000 board feet, since 2004 where it was at $431 per 1,000 board feet. Also, residential window and door sales have been steadily decreasing, forcing many companies to begin selling their products for a lesser price. According to Ducker International Forecast, shipments are down almost 30 million from 2005 when they were at their peak of sales/shipments.
For people curious about building who don’t own a lot or home already, it is a great time to buy. The combination of near record low mortgage interest rates and the outstanding selection of inventory on the market make now the best time to purchase a property and build. According to the National Home Builders Association, “there may never be another buyer’s market as good as today’s.” Real-estate is predictably cyclical; ultimately, prices will increase as inventory declines and demand increases.
By purchasing a property for a lower price now, you can customize and build a home built specifically for you and your family. Building today is a great and smart investment for tomorrow!
Second, what are construction costs now?
Construction costs vary from house to house depending strongly on the owner selections and changes made through the building process. According to the National Association of Home Builders the average price per square foot of floor area in a new one-family house in the United States has been steadily decreasing since 2006 when it was at its highest in 15 years. According to the data, the northeast region of the U.S. is most expensive while the southern region is least.
Third, How to choose a home site?
Home site selection is all personal preference. Depending on what kind of home the owner wishes to build and what type of atmosphere they wish to live in; whether they wish to live in a nice school district, have a beach front view, or live in a quiet secluded forest area. It is all up to the owner. Recent trends show that lot prices are lower and the costs of older homes that could be torn down is also low which could sway a property buyers decision. Bunting Construction Company, Inc. will build anywhere.
And finally, How long does it take to build a great home?
From the beginning of the Design/Build process to the point in time where the Certificate of Occupancy is approved, Bunting Construction Company strives to completethe project in less than a year. The building process can vary depending on the owner’s selections and changes throughout the project.
Scott Bunting
Bunting Construction Company, Inc.
www.BuntingCompany.com
Office: (843) 842 – 9033
Fax: (843) 842 – 9209
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