Since January 2017, the price of an average single-family home has risen by more than $7,000 *
While U.S. made products are our first choice when selecting materials, many of these goods are supplied from overseas distributors. But as more tariffs are implemented against these countries and other actions are taken, the cost of receiving these items, and the cost of new home construction, will continue to grow.
According to the National Association of Home Builders, approximately 600 of the 6,000 goods in the latest round of tariffs are related to the construction of new apartments and homes. In fact, the price of lumber has risen 62 percent since 2017. As higher material costs hammer the industry, and the battle continues around these tariffs, families considering building a new home are left feeling leery about their plans.
But now is the time to build your custom home.
Why? First, because of rising costs. Section 301 tariffs recently implemented in September at 10% will further increase to 25% in January. And while tariffs on items like home furnishings and appliances don’t directly affect the cost of building new homes, they do increase the total price of the home for potential homeowners.
With the uncertainty of what tariffs lie ahead, and how much they will be, choosing to plan and build your home now means you don’t have to worry about what supplies may cost you over the next few years.
Other factors to consider:
- Housing Market – With the hot housing market we have seen in our area and nationwide, prospective homebuyers found are finding limited availability of existing homes, many of these with higher than average prices. By choosing to build a home, you no longer have to wait around for the perfect home to hit the market when you can create it yourself in the location you desire.
- Built on Your Budget – Most importantly, choosing to build a custom home means you get to make all of the decisions. As the homebuyer, you get to choose the location, the size and the amenities that are included in your home, allowing you to know and alter the costs of the project to fit your needs and your budget.
At Bontrager Custom Homes, we understand the concerns and hesitations you may have. We take the time to discuss finances, needs and wishes and walk alongside you through the process so you stay well-informed and confident in your decisions. We work diligently and efficiently with our leading supplier partners to find you the best pricing for the highest quality materials so your home is built on time and within your budget.
Are you ready to build a custom home? Contact us today so we can start designing the home of your dreams.