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Hello all--anyone have insight on buying land in MP and building? Can you save on the build in the long run opposed to buying new construction for $650k?
Hello all--anyone have insight on buying land in MP and building? Can you save on the build in the long run opposed to buying new construction for $650k?
It's doubtful. Most of the new builds are done by a builder who is building multiple homes and has leverage to negotiate a bulk discount on everything needed to build a house and the land itself. Building custom typically cost more because you're paying full market price for everything.
It's doubtful. Most of the new builds are done by a builder who is building multiple homes and has leverage to negotiate a bulk discount on everything needed to build a house and the land itself. Building custom typically cost more because you're paying full market price for everything.
That's right though it is sort of comparing apples to oranges. If you're going to compare buying a "production builder's" house (DR Horton, Pulte, Beazer, etc) to using a custom builder, then yes the custom home will be more expensive but it will also be a custom home and arguably better built and more suited to your exact needs.
Finding a custom builder around here to do a "small project" ($300-$400k) will also be VERY difficult. The better builders have plenty of high end work to keep them busy. Unless you have a very flexible time schedule, I would never consider this. You're competing against $1m+ builds. Even if you got a GC to do it, you will be the lowest priority for scheduling subs, keeping promise dates, overseeing work...
At the present moment almost every contractor I know is slammed. So you would actually do better with a big builder who has at least locked in pricing and has a lot more sway to iron out issues with inventory, deliveries, subs, etc.
If you can buy the lot and wait even a nine months to a year for either a little softer of a climate or to get in line then you should go that route if you prefer a true custom build. The thing about developer/big builder neighborhoods is that the homes make for easy comps and homes that appeal to a broader range of people. A neighborhood of all true custom homes can have a lot more variation. Then again there are some areas & buyers who specifically do not want a tract or mass built home regardless. And much of Mt Pleasant hits a price point where that occurs.
At the present moment almost every contractor I know is slammed. So you would actually do better with a big builder who has at least locked in pricing and has a lot more sway to iron out issues with inventory, deliveries, subs, etc.
If you can buy the lot and wait even a nine months to a year for either a little softer of a climate or to get in line then you should go that route if you prefer a true custom build. The thing about developer/big builder neighborhoods is that the homes make for easy comps and homes that appeal to a broader range of people. A neighborhood of all true custom homes can have a lot more variation. Then again there are some areas & buyers who specifically do not want a tract or mass built home regardless. And much of Mt Pleasant hits a price point where that occurs.
+1 Most builders are backed up and that's somewhat true for the production builders if you're buying one that's not yet built. It's my feeling that when the production builders get backed up, they add crews with less discrimination and quality suffers. That may or may not happen with a custom builder but it's less likely.
The fact that a neighborhood of custom homes can have a lot of variation can work for you if you're a smart buyer/seller.
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