In a lot of ways, building a custom home is like having a baby. You can expect it to take nine months (or even longer in some cases), and the truth is that you’ll probably never feel 100% ready for such a monumental undertaking. And with the chaos of the coronavirus and resulting supply chain disruptions, it’s easy to resign yourself to putting off your dream home for another time. Here are three reasons that might be the wrong decision.
If you started the building process right now, it could be almost a year before your home is move-in ready. That’s partly because the nationwide labor shortages impacting all kinds of industries are particularly acute in construction. For 2024, the biggest obstacle for construction firms continues to be hiring challenges, with 70% of firms reporting difficulty finding qualified workers, according to the Associated General Contractors of America (AGC). This ongoing labor shortage is compounded by concerns about rising costs, inflation, and supply chain issues, making the construction industry environment particularly challenging this year.
Ultimately, the more time you allocate to the construction process, the less stressful it will be.
Moving into a custom-built home is incredibly exciting, but attempting to rush the process can have drastic consequences. For instance, the best contractors will be in high demand. A tight timeline could compromise quality by forcing your builder to rely on whoever is available. When you get started early, you give your builder the time to focus on quality above all else. Clearly, that should be the top priority when you’re talking about your dream home.
When the pandemic arrived and hand sanitizer and toilet paper began flying off the shelves, lumber seemed far from essential. Demand was slightly down until people sheltering at home realized they could be there for a while. Eventually, home improvement projects and new construction took off and demand for lumber skyrocketed. Unfortunately, labor shortages and transportation difficulties meant that supply couldn’t keep up.
Having plenty of time also gives you the flexibility to make changes and additions if you so choose.
Since the pandemic, lumber prices saw an unprecedented surge, reaching a peak of $1,686 per thousand board feet in May 2021, which was indeed a 400% increase compared to the previous year. However, prices have since decreased, although they remain well above pre-pandemic levels. Currently, lumber prices are about 40% lower than their peak in 2021, largely due to increased sawmill output and efforts to meet demand. Although prices are coming down, they aren’t expected to return to pre-pandemic levels anytime soon. (Source: SBCA Components)
You might not have to construct your house yourself, but it will feel like you are when you’re making all the decisions that go into building a custom home in Asheville. They’ll range from major (do you want solar?) to minor (do you like this doorknob?), and while many of these decisions will be fun, the sheer quantity can add plenty of unwanted stress to your life. Hopefully, you’ll work with an experienced and trustworthy builder who can help you navigate them, but you’ll inevitably spend lots of time on the phone or at the construction site making sure everything is coming together exactly as planned.
Ultimately, the more time you allocate to the construction process, the less stressful it will be. Giving yourself this leeway means unforeseen circumstances like a materials shortage or a bad hurricane season remain small setbacks. In a frenzied rush, they’ll balloon into full-blown crises that test your resolve (and your relationship with your spouse). Having plenty of time also gives you the flexibility to make changes and additions if you so choose.
There’s a lot going on in the world. Even if life seems to be returning to normal, building a custom home will upend it all over again. The juice is worth the squeeze, but you can avoid undue headaches by giving yourself and your builder as much time as necessary. Instead of putting it off for years and then rushing toward the finish line, start now. Embrace the process. You’ll be settling into your perfect forever home sooner than you think. Start your search for your new home in scenic Mars Hill NC.