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Home Home Building Building a Home

Why Building a Home Now is Smart – The Proof

Chuck Marunde by Chuck Marunde
December 16, 2008
Reading Time: 3 mins read
0 0
9

Sequim ContractorsThere are a good number of retired (or nearly retired) folks who are planning to build their retirement homes in the coming months.   I know because I talk to them reguarly.   These are people who are not waiting to sell an existing home, who have excellent credit scores, and who have savings and the financial wherewithal to buy a lot and build a home.   Some already purchased their lot several years ago.

Obviously, there is a large segment of our population of retirees who are not in that group, because they must first sell a home before they can build, and right now try to find a good market to sell anywhere in the country.   So these folks are going to patiently (or impatiently) wait for the market to begin to return before they make their move to sell and build their next home.

For those who are in a position to build, why is now such a good time?   As they say in any area of investing, and building a new home is a huge investment, “timing is everything.”   If I were a high pressure salesman working for a large tract home builder in trouble in the Seattle or Tacoma area, and I was trying to force your hand to buy a spec home that’s been on the market for nine months (and is headed to foreclosure if the builder doesn’t get it sold stat), my pitch to you that now is the time to build or buy a spec home would be colored with conflicts of interest.   I’m not in that position, and no one I associate with is in trouble to sell spec homes or anything else.   We all have our personal motivations, and I have mine, but judge my counsel here on its own merits.

Here are five solid reasons this is one of the best times to build a home in the next five years:

  1. If you are buying a lot for your new house, lot prices are lower than they’ve been in many years, and developers and private owners are bending over backwards to sell you their lots;
  2. The prices of timber and other materials are lower now than they have been and will be in a long time;
  3. The subcontractors are reducing the labor component of their bids right now out of a need to work;
  4. Builders and subs are likely to give you more personal attention right now than ever, both in the relationship process and in the quality of workmanship; and
  5. When the market starts to come back, we will see significant inflationary upward pressure on prices across the board as consumer spending and massive government spending kicks in and as we see the economic multiplier effect play out.

This is a good time to build, provided you do your due diligence in selecting a home builder with experience, integrity, and financial strength, and provided you surround yourself with professionals to gather information and make wise decisions at every point.   Be wise in chosing a Realtor, an architect, and a home builder.   You’ll be glad you did.   If you need help in this process, you can email me or call me.   It would be my privilege to be a part of your exciting plans to build your retirement home in Sequim or Port Angeles.

Last Updated on December 16, 2008 by Chuck Marunde

Tags: contractorsHome BuildersPort AngelesSequim
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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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Comments 9

  1. Jessica - Real Estate License Direct says:
    14 years ago

    You make some excellent points Chuck. A lot of people don’t realize it, but right now is a time for deals, virtually every company is willing to work a deal just to stay in business, not that one should take advantage of that but a good deal never hurt anyone. 🙂

    Reply
  2. Home Loan Michigan Savings says:
    14 years ago

    Hello webmaster! I am thoroughly impressed with your knowledge of uilding a Home Now is Smart – The Proof. Your insights into this article about uilding a Home Now is Smart – The Proof was well worth the the time to read it. I thank you for posting such awesome information. I find it on Saturday and very happy reading this…

    Reply
  3. Lakehome Blog says:
    13 years ago

    Chuck,

    I was talking with a potential first time home buyer the at the end of winter. She was looking at bank owned homes and short sales. We found a lot and utilized a small construction company with a proven record. After all is said and done she ended up paying the same amount as she was looking to spend on a REO for the almost exaclty the same price.

    Reply
  4. Chuck Yung says:
    13 years ago

    The best way to preserve that newly-purchased house or other property is to make sure that it is put into a trust or other estate planning entity. For new home builders who want to learn more about this, you can go to Law Practice Management Systems.

    Reply
  5. Estate Taxes says:
    13 years ago

    Great one. It’s a very informative post to read. Thanks to this, I’ll let my frinds read this.

    Reply
  6. James hardie ct says:
    12 years ago

    I agree with you. Many companies are playing games with numbers just make some sales. It really is buyer beware.

    Reply
  7. Amanda says:
    11 years ago

    Sequim real estate is without question a retirement destination. Sequim is beautiful. What a great place to retire.

    Reply
  8. Josh says:
    11 years ago

    This is some very useful information to have. I agree now is the best time to start building a home. Prices are cheap and lets be honest. They can only go up from here. If you were to build a home now. It would most likely be worth more later.

    Reply
  9. Travis says:
    10 years ago

    Nice Article

    Reply

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    • Port Angeles MLS
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    • How to Search the Sequim MLS
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    • Buyer Videos Part 3
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    • Sequim Real Estate: A Buyer’s Guide (Paperback)
    • Escaping California to The San Juan Islands
      • Menu Below
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