Is new home construction right for you? It’s trending!
New home construction saw a boom in 2023, but what is to be expected for 2024? From steady business to economic crashes, there are many theories. In general, there are still plenty of reasons to expect new home construction to remain popular in 2024.
Custom Home Building Remains Popular in 2024
According to economists, custom home building will remain popular this year, even if at a slightly lower rate than in 2023. Affordability continues to be a pressing issue in the housing market, not just in the U.S. but worldwide, and the supply of new construction meets the demand that so many have.
Custom Home Builders Offer Preconstruction Incentives
Finding a new home involves selecting a location, a neighborhood, convenient access to community and amenities, and a home design that works for you. Of course, it must meet all these criteria and be within your budget, too. Unlike with resale homes, you can get discounts on your new home purchase through preconstruction incentives, which are perks that the builder will cover.
Supply Chain Delays Are Mainly Past
A few years ago, supplies were failing to get to the shelves and construction sites on their regular schedule due to many delays. Those days are past, and construction supplies are getting to homes as usual again. People who might have wanted to build their home originally can now do it without a high risk of delays. Even so, some industries like cabinetry and kitchen appliances may always have some risk of delays.
Resale Homes Are in Limited Supply
Homeowners were very reluctant to sell their homes in 2023 due to the high interest rates. If they sold, they would have to change out their low interest rate to a much higher one. With a lower supply of existing homes for sale, homebuyers moved into the realm of home building; the trend may continue!
Custom Homes Offer Quality
When existing homes cost so much, it is possible to build a home for less and attain much higher quality living. A custom home is brand new and fit to your lifestyle.
LEARN MORE WITH SHORE-LINE CONSTRUCTION!
At Shore-Line Construction, we know that your home is a reflection of you. That’s why we strive to make each home we build as beautiful as the family who will live there. We work with each of our clients to design a home that fits their needs. The end result is a durable, energy-efficient custom home that the family will enjoy for generations to come. Shore-Line Construction has been serving our customers for over 25 years, and we look forward to the opportunity to help you!
If you’re interested in learning more about what Shore-Line Construction can do for you, check out our website or give us a call at 410-574-6623. Keep up with all of the latest news by following our blog and social media pages on Facebook, YouTube, Pinterest, and Houzz!
