Since the 2008 economic recession – more than a decade ago, now – Florida has seen a sharp rise in real estate sales and valuations. And, due in large part to the vast increase in job opportunities in Orlando and the surrounding Central Florida area, this locale has also become a prime spot for building new custom homes. Yet, because lumber imports from Canada supply many American home builders, the lumber tariffs that took effect last year have had an impact on the cost of this essential material, and in turn, the price total tag on the creation of new homes.
According to the New York Times, the cost of 1,000 board feet of western Canadian lumber has gone up almost 80% over the past year. So, new home purchasers are likely to see a sharp increase in the price tag on a newly constructed residence.
Depending on the builder that is chosen, though, there may be ways to bring down the costs in other areas. This, then, can help to even out the overall cost. With that in mind, it is important to research multiple custom home builders before making a commitment to one.
Some of the key components in choosing a custom home builder include experience – especially in the area that you want the home to be placed. The builder’s reputation and testimonials should also ideally be considered.
Whether you plan to create a single family or a multi-family residential home, if you still have questions about the custom home building process, as well as the anticipated costs, give Rare Builders a call.
Since 2010, we’ve prided ourselves on the satisfaction of our customers. We will walk you through what you can expect from start to finish. So contact us today at (407) 401-7575.
Sources
How Trump’s Lumber Tariffs May Have Helped Increase Home Prices. The New York Times.
