As the years go by, custom homes continue to grow in popularity – which is not that surprising when you consider all the benefits that it offers. Rather than purchasing a production home, custom homes don’t have pre-defined choices, allowing you to build the house of your dreams.
In the past few years, the housing market has been increasing, especially last year. It has been calculated that house prices have increased over 13% only in 2017. The CMHC recently revealed that a detached two story house increased by almost 18% in its price. Townhouses increased 16% and apartments and condominiums soared up to 13% in the beginning of 2017. On the contrary, the price average for new custom homes only increased per the inflation rate.
The following chart summarizes the information:
Why invest in custom homes?
There are many reasons as to why investing in custom homes is a good option. First, as mentioned before, the price of custom homes is not increasing at the same rates as used houses are across the country. The price of the land is remaining static, the same for contractors and materials. Moreover, since the buyer is the one deciding how the house is built and what supplies are going to be used, the buyer can play with the budget to make it more cost-efficient.
Another good reason to invest in new custom homes is the fact that the re-sale value will be greater than other houses. This is simply because new houses need less maintenance and there are not as many new construction houses in the market, making the demand increase. This is especially particular in the case of luxury houses, which the strongest sales volume is set, at $4 million. Having in mind that the highest cost for a custom home is set at $719,000, the profit from selling can be significant.
The process of building custom homes
The process of building a custom home is very similar to building a production home, although the major difference is the fact that the buyer, yourself, will be more involved in the process of the construction, which will allow you to make crucial design decisions. For instance, you could choose the floor plan and design style for yourself: a Tuscan villa, retro style, Modern and contemporary, Urban chic, or whatever else you have in mind. You will also be able to choose the materials used in the construction, which is important when managing your budget.
Your involvement in the process will vary, but in most cases you will have more input in the decision-making process, since this custom home will be your opportunity to create your perfect home from the ground-up.
Energy-efficient and Eco-friendly Custom Homes
One of the many benefits of working on a custom home is that you can reap the benefits of implementing energy-efficient and eco-friendly technology. In fact energy-efficiency in custom homes is one of the fastest growing trends in home building. Nearly 87% of builders incorporate eco-friendly features in their designs as a usual practice. Choosing to use these technologies will not only help the environment, but it will also help homeowners save money!
There are many options when going green. During the construction process you
can choose to build a new custom home as a passive house, which will save energy and money in utility bills. Also, by following the LEED standards, builders will be more respectful with the environment
There are many simple things that can make a great change in the house and save energy and be on the green side, some are:
● High efficiency windows
● Special location of windows to maximize sun and shading
● High quality insulation
● Solar panels on the roof
● Rainwater tanks to harvest water
It is true that purchasing custom homes can be more expensive than with production homes, however this is only true for the initial payment. Well designed custom homes can save you an enormous amount of money over time if they are designed to be energy-efficient.
If you are ready to live in the house of your dreams, contact one of our expert custom home builders at 1 (888)778-0344 or http://www.techecohome.ca/contact.html and start enjoying your new life!