Economy

Buyers can build homes for less in 2011

New homes cost less to build this year than in 2009, according to a national survey, and local builders say that some lower construction costs and smaller profit margins are making homes more affordable for buyers, who are slowly starting to make the decision to build.

The average construction cost of a typical house in the United States was $184,125 this year, down from $222,511 in 2009, according to National Association of Home Builders surveys of a national sample of homebuilders. Among the most dramatic findings of the 2011 survey was that framing costs averaged just less than $25,000, which is down from the nearly $35,000 average cost in a similar 2009 survey.

The survey, which looks at average costs nationally, may not be totally accurate for the Grand Strand, said Harry Dill, president of the Horry Georgetown Home Builders Association. There haven’t been dramatic changes in prices - some wood products are less expensive, but concrete prices have increased, he said.

“Right now it’s a great time to build a house because prices are low and it’s very competitive,” Dill said.

Read the complete story at thesunnews.com

  Comments