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Home Buying Land

Some in Sequim Building Homes Again

Chuck Marunde by Chuck Marunde
September 2, 2019
Reading Time: 2 mins read
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Building homes in the Sequim area is making a come back! During these last nine years of recession, builders quit building homes almost entirely. That’s because the prices of existing homes went down roughly 30% below the cost of buying land and building a home. As long as buyers could find an existing home that would meet their needs, it made no financial sense to spend 30% more building a home. But the winds have been changing, and some retirees moving to Sequim are building homes again.

Building Homes

Building Homes: The Housing Inventory

There are two main reasons some buyers are buying land and building homes again. The first reason is that the inventory of three bedroom, two bath homes on one level has been shrinking over the years, and it is harder now for many buyers to find the ideal home. The ideal home may not exist in the housing inventory. That is pushing some buyers to build homes. [The land in this photo is available and can be seen at Sequim Land.]

Building Homes and Building Costs

The second reason some are building homes is that the difference in the cost of building and the cost of buying a similar existing home has been shrinking. The price of building a home has not changed much at all during this recession, but the cost of existing homes went down and is now on the rebound. That makes building a home more attractive, although if you can find an existing home you love, it will still be substantially cheaper than building the same home.

In conclusion, with the existing home inventory shrinking and prices increasing, some retirees moving to Sequim are building homes again.

Last Updated on September 2, 2019 by Chuck Marunde

Tags: Building a Home
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Chuck Marunde

Chuck Marunde

Chuck grew up in remote Alaska, graduated from the University of Alaska with a degree in Economics and Teacher Certification, and after teaching high school for two years, went to law school at Gonzaga University in Spokane, Washington. He served four years as a Captain and JAG in the USAF at Nellis AFB in Las Vegas. After practicing real estate law for 20 years in Washington, Chuck founded iRealty Virtual Brokers covering Sequim and the beautiful Olympic Peninsula. He is the author of 2,200 real estate articles and a dozen real estate books, and he produced over 100 real estate videos. Chuck combined his love for real estate and technology to create a massive Internet presence, and his articles and videos and books have been viewed by millions. Chuck is a well recognized real estate expert and his counsel is sought by other brokers and practicing attorneys around the country. Buyers from New York to Hawaii and from Florida to Alaska seek him out to retain him as their buyer's agent, and home owners around the State of Washington seek him out because of his new Flat Fee Listing Service. 

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  • Home
  • Search MLS
    • Sequim MLS
    • Sequim MLS Map Search
    • Port Angeles MLS
    • Port Townsend MLS
    • San Juan Islands MLS
    • All Islands MLS
    • How to Search the Sequim MLS
  • Videos
    • Sequim Videos Q&A
    • Buyer Videos Part 1
    • Buyer Videos Part 2
    • Buyer Videos Part 3
    • Buyer Videos Part 4
    • Living in Sequim Video Channel
  • Books
    • Sequim Real Estate for Buyers (Free eBook Updates Forever)
    • Sequim Real Estate: A Buyer’s Guide (Paperback)
    • Escaping California to The San Juan Islands
      • Menu Below
    • Buying & Selling Real Estate in The Rain Shadow
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    • The Seven Myths of Selling Your Home
    • Buying Your Retirement Home
    • The New World of Marketing for Real Estate Agents
  • Agents
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