Is it a good time to build a home?
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- Опубліковано 26 сер 2022
- Is it a good to build a home? Or should you wait until building material prices come down? In this video a builder reviews the key items affecting owner builders, including labor availability and material costs and provides an insider's view of the best time to build. Hint...it may be a good idea to wait.
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I feel like you should make one of these videos at least once per month. This is what we really want to know
Please do frequent updates like this at least monthly!
" Prices rise like a rocket and fall like a feather. "
I like that
@@michaelmontebon7306 Capitalism 101, Chapter 7 "Competitive Pricing". You and I appreciate it but most simply don't get it.
Dang that makes sense 🤔
Been watching these videos for a while now. Thank you so much for doing what you do
I just had my slab poured 2 days ago and it was 25k for 2,700 Sq ft. We are in a rush to build and will be doing alot of the work ourselves. We are building a barndominium in Texas.
Did that include all the concrete and rebar? How thick was the slab? Did they do the excavation as well?
9.25 a square foot is high, but if they are taking care of everything, it’s not horrible.
Also if there are a lot of spot and strip footings, and a lot of anchor points, that adds a lot of cost too.
I estimate homes for a large home builder and our cost for excavation, concrete, rebar and labor is about $14 a square foot. But that’s with large footings and a lot of added rebar that you probably didn’t have.
What part of Texas are you in? We are finishing our design and will be doing the septic and concrete early next year
Great topic Mike. Another major issue is mortgage rates. A 2.5% increase in the rate doubles the monthly payment amount pricing most people out of the market. And no one should be even thinking of using an adjustable rate mortgage to finance their home with the FED talking about raising rates for the next 2 1/2 years.
Wow. I really appreciate the good information, analysis, and efficient delivery!
I love these videos....Thank you!!
Appreciate the materials insight here and all of the videos made. Super helpful!
Locally our concrete prices rose 49% since 2018
Thank you for all your detailed videos
Thank you for all you do, I’m about to actually do my first spec build after building 2 of my personal homes. Would love to see some content on actually starting a Home building company.
Hi Reggie, where do you build? I am looking to build here in NC.
Mike, Thank you for all the work on these videos you have in this channel . Great and sincere information. I am very motivated on becoming an Owner builder, I am wondering if you have any advice about building a duplex or triplex in order to live in one and rent the other one. What could be a smart way to distribute the living areas? 2bed 2 bath homes or maybe a 3/2 design? Any affordable plans you can share? thanks again! my favorite channel so far.
This was great, thank you.
I think building right now is top ticking the market. Labor, materials, rates are high. Next year after we stabilize might be better. We just had a bad hurricane is south Florida so how much labor & materials will go down there. While I don't have the ability to build a house myself I do want a medium size simple functional custom house built. I have land already & want to build basically a double-wide trailer shape old style cabin looking house on the cheap. I found 1 trailer out of a 1,000 plans I liked but didn't need 4 bedrooms. I haven't seen a house plan yet that I really like( in my budget). I was thinking take the good stuff from the 1 plan I liked & fill in the rest of the house plans around it. If the city would let me I would build a cabin shed & be debt free but nooo don't want that to happen.
I anticipate building a new home the future. Time is on my side. It's been decided we want to hire a PM or CM. I know we can offer an hourly rate. However, if we hire the PM/CM on a entire project basis. I heard standard procedure is to pay PM/CM a percentage on the materials?
This is good because I plan to buy land and start my build within the next 18-24 months.
Love these video. Do you know approximately on avg how much did construction material increase/decrease YTD (Jan 1 to Sept 30)?
And yet it looks like rates will continue to go up.
Yup! But Powell could only say "the party is over!" to get his point across. If everybody pulls back a little it makes his job way easier.
@@jimmiller5600 true. My point is that for those of us suddenly priced out, we're likely to be priced out for a while longer, and even worse even.
So now is NOT a good time to build, lol
@Omar Zazzle did you, um, have a point?
Great Info, appreciate for this valuable info put together, Do you project consult, interested in doing quadplex in Birmingham AL.
Hi Mr Michael, I want to thank you for all the information, encouragement and your kind words. I have a lot that I plan to develop sometime next year and I want to be my own contractor. The problem is I want hands on training not online. Do you have any information on hands on training.
We plan to start construction in JAN OR FEB 2023
Lumber has not come down at Lowe’s or Home Depot. They didn’t get the nasdaq memo.
What?! I watch home depot lumber prices like a hawk and they have definitely fallen alot since this time last year.
We want to be owner builders but since we are Veterans and want to take advantage of the VA LOAN - we are not allowed to be “owner builders” - we were told “a certified builder has to build the home”. Anyone been able to do an owner builder build on VA LOAN ?
Can you do conventional building loan & then refinance with VA?
Do you build home in west palm Beach county?
You mean Palm Beach county?
@@AlabasterMuslim yes
*ALL ABOUT SITE PREP.* get it done and done right or go bankrupt.