You have been planning to build your dream custom home for many years. You may be wondering if it is worth waiting to build your house due to the high prices for building materials and the cooling real estate market. You may think that now is not the right time even if it is.

These are important concerns. Although you may need to wait for some reasons, most of our clients believe that building a home by 2022 is the best option. Here are some indicators to help you make a decision if you are still unsure.

Is it a good time to build a custom home? Yes! Here’s why:

It may seem that you should wait before building a home. However, the market does not always work as you expect. Even though the market may not be ideal, it might still be possible to build a home now due to timing and other personal considerations. These are just a few reasons why you should start as soon as possible.

There are many factors that can impact the cost of building a custom home or buying an existing one. If you missed the first part of this post, you can check it here. 

Size

The square footage of a house has an impact on its price. Homes of greater square footage are more expensive than homes of smaller sizes.

Number of bedrooms

Design and size also have an impact on the cost of a new home. The cost of a home with more bedrooms is generally higher.

Levels

Any additional levels added to a home will result in a higher overall cost. Labor and materials typically cost $13 per square feet to frame a one-story home, and $22 for a two story custom home in Myrtle Beach.

Prospective buyers face a major decision when they take their first steps towards homeownership: Buy an existing house or build a new custom home? It often depends on the buyer’s financial situation, budget, and what they want.

The median sale price of single-family homes in the United States in December 2021 was $358,000, an increase of 15.8 per cent from the previous year, according to the National Association of Realtors. The median sale price for single-family homes during the same time was $377,700 according to the U.S. Census Bureau and U.S. Department of Housing and Urban Development.

The cost difference may initially seem like a major dealbreaker for some buyers. Others may find it worth the cost to build a new home according to their own specifications.

Let’s make it easier for you to decide if you want to build something new.

Cost per Square Foot for a Single-Family New Home

The average cost of building a new house is $284,158. The cost of a new home can vary depending on the location, type of home, size, and desired features or luxuries. While new construction is typically priced between $100-200 per square foot (but customizations can quickly increase the cost to $500 per square foot), it’s not uncommon for costs to go up to $200 or $300 per square foot.

To stay cool in the summer, you will need certain features in your custom home. You want your home to be as comfortable and cool as possible. Here are some must-have features to ensure that your home stays cool in the summer for many years.

A metal roof can improve your HVAC performance

If you are looking to cool down your home, metal is the best roof material. It’s very energy efficient. Metal roofs are also beautiful and can be an excellent addition to any home.