> Really the most concerning aspect is that the cost to build new housing has drastically gone up.
Any idea why? This is a life plan for my wife and I, we're currently looking for the right spot of land (~10 acres) and then we hope to start building in ~5 years after significant saving and planning.
We're in the initial stages of planning out our floor plan/etc, and costs are high, but we haven't really noticed a huge difference between building and buying. .. but i suppose we also aren't far enough long that we're getting real price estimates either.
From what I heard, from an architect friend, the difference in price between a builder and custom home is 10% premium. Because whatever economy of scale saved by the build is taken up in profit. To the buyer prices are just about the same. And conveniently, the commission for an architect is also 10%. So if you can design and self certify you also save a bit.
There's a large gradient between "custom" and custom. Modifying an already designed home is so much cheaper than something from the ground up. As in, thousands vs tens of thousands. Depending on where you live and what you're building, that's a decent % of the total cost of a house.
Lumber, materials, labor. Homebuilding needs to be disrupted with more automation, use of cheaper, sustainable materials (3D printed concrete, for example).
Any idea why? This is a life plan for my wife and I, we're currently looking for the right spot of land (~10 acres) and then we hope to start building in ~5 years after significant saving and planning.
We're in the initial stages of planning out our floor plan/etc, and costs are high, but we haven't really noticed a huge difference between building and buying. .. but i suppose we also aren't far enough long that we're getting real price estimates either.