20 Jun 2017
June 20, 2017

Home Construction Costs are up

June 20, 2017 1 Comment

Homeowners selling a house in the Kansas City market are finding the process moving quickly. Home buyers have to move fast these days to get the house they want. They also have to be prepared for a bidding war depending on the neighborhood. If your preference is to build a home, there are some construction costs to be aware of.

Construction costs are up this year

According to the Associated General Contractors of America, there is a 2-3% increase in the cost of building a new home in 2017. This is due to the prices for raw material, like concrete, steel, and iron. Gypsum products will see the highest increase in materials costs at 6-7%. There is a shortage of skilled construction workers in the labor market. With less skilled labor, contractors are choosing which projects to get involved with. Labor costs are also up 3-4%. The national average cost to build a home today is $291,101 or $150 a square foot. Construction costs could be higher with additional molding, larger decks, additional floors and roofing materials.

Other choices for buildingHome construction costs are up over 2016. Even new homes can experience sinking concrete slabs.

Modular homes cost 10-20% less to build than typical home construction. Negotiated rates and reduced labor expenses lessen the costs of home building for modular home owners.

Construction costs for using Developers or Builders

Working with a home developer or builder is also an option. Be prepared to spend more than you had originally budgeted for. Upgrades, additions and the ability to change plans and customize can add to the cost of building with a developer. Save a little money and choose a home that has already been built.

This is a sellers’ market. It can also be an appropriate time to build your own home. As a home buyer know what your budget is and try to maximize it as best you can. Whether you build or buy, keep Concrete Raising Systems in mind. They repair sinking concrete steps, driveways, sidewalk and basement floors. Just because your home and the concrete slabs used to build the sidewalks, steps, and driveway are new, doesn’t mean they can’t or won’t sink. A sinking concrete slab can be raised permanently with foam jacking.

One Response to Home Construction Costs are up
  1. Construction costs are up in the UK too. It makes refits and refurbs difficult to budget for


[top]

Leave a Reply

Your email address will not be published. Required fields are marked *