Should I Build A Home? Mid Year Market Update

Рет қаралды 4,703

Күн бұрын

Is now a good time to build a new home? So many variables to consider.
Building a new home is a significant decision and investment. But with fluctuating market conditions, rising material costs, and evolving design trends, how do you determine the right time to start your home construction?
In this video, we break down the essential variables you should consider before laying down the foundation. From evaluating current mortgage rates and understanding supply chain impacts to diving deep into local zoning laws and the importance of seasonality, we've got you covered. Join us as we guide you through a comprehensive analysis, ensuring you make an informed decision. Don't forget to hit that 'Like' button, subscribe for more insights, and drop your questions in the comments below! 🔨🏠🔍📈 #HomeBuilding #RealEstateTips #ConstructionInsights
#1 Katherine Austin Fitts of the Solari Report (see home.solari.com/) #2 Dan with iAllegedly (on KZfaq) #3 Neil McCoy-Ward and Mark Moss (Both on KZfaq) #4 Lynette Zang from ITM Trading (on KZfaq) #5 The Economic Ninja (On KZfaq) #6 Charles Hoskinson (on KZfaq) #7 Mike Maloney at GoldSilver (on KZfaq) #8 Gerald Celente at the Trends Journal (on KZfaq) #9 Martin Armstrong at Armstrong Economics (www.armstrongeconomics.com/) #10 Greg Hunter at USA Watchdog (on rumble)
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Пікірлер: 51

@BradtheBuilder 6 ай бұрын

Wow! You did a great job giving a short class on economics. This is really the school of hard knocks… they don’t teach this in schools! 👍. I subscribed ❤️

@RDBOY100 7 ай бұрын

I just came across your KZfaq channel and I'm happy I did. I'm looking to build a home in California and that's adding to an already technical process of home building. I'm positive this channel will prove to be of great value to me.

@user-nh9fi2sx2x 11 ай бұрын

Building my 2500sqf home as an owner builder in Florida. Just spray foamed and waiting for wall and vault inspection. Started taking quotes for drywall. The is still a market for the ripoff subcontractors who charge depending on who the customer is and not based in the actual work. So drywall quotes have sofar varied between 12.5k - 30k. And the 30k quotes get so butthurt when I tell them its not even close to my budget. Just be careful when you build and get an idea on what the price for certain jobs should be, dont stress it. And dont fall for these ripoff subcontractors. They are everywhere. They either dont want the job and overquote. Also pay attention to how detailed they are in a quote. If they just send you a lump price in email not specifying what you will get just walk away.

@HowToBuildYourOwnHome 11 ай бұрын

Very spot on

@jennsappalachianden 11 ай бұрын

Here in East TN OSB just went up. It’s about $18-21 per sheet. We are building and highlighting our home build series here on YT. We’ve been waiting for lumber to go down since 2021 and it finally did.

@HowToBuildYourOwnHome 11 ай бұрын

Best of luck.

@CoinOpTV 11 ай бұрын

Thanks Keith - always useful info!

@HowToBuildYourOwnHome 11 ай бұрын

Glad it was helpful!

@alexr9490 11 ай бұрын

Hey Keith, I've been waiting for this update for weeks now. Thank you for making this video

@HowToBuildYourOwnHome 11 ай бұрын

More info Thursday live chat, 5PM MST.

@BenKlassen1 11 ай бұрын

Good advice! Thanks Keith!

@HowToBuildYourOwnHome 11 ай бұрын

Glad to help. Thanks for the comment

@colinhoward5067 11 ай бұрын

Thanks Keith! Great advice and really solid economic voices you've referenced here. My wife and I are aiming to start our build in 2024 and, as with the housing market in general, I've given up waiting for the perfect time to build. Ideally, we'll time it just right to be able to get a mortgage lower than currently while also having lower construction costs from the reduced demand. But everything is a gamble. With what they're planning with the economy, I forsee building becoming more expensive and challenging as the years go on. I will own something and be happy, that's for sure, sorry Klaus

@HowToBuildYourOwnHome 11 ай бұрын

Great comment

@pnut1332 11 ай бұрын

Your information is always 🔥. Masterclass👏🏽👏🏽👏🏽

@HowToBuildYourOwnHome 11 ай бұрын

I appreciate that

@uploadtime1780 11 ай бұрын

Keith, thanks for the thoughts and information. Im unable to build for myself (time, knowledge of certain aspects, medical, etc.) and we finally lined up with a couple of contractors for a garage with bonus room. With future plans in other areas of our life and those associated expenses, we won't have enough cash on hand to pay outright. So we have been considering financing about half the job for a few years until paid off. I've been weighing on whether to move forward, finance and pay that interest for the short term or hold out while saving for a full cash payment and hope we see a further downturn in prices and demand while doing the saving. If the latter comes true we may net a better deal on the cost as a side effect of the delay/saving approach. My worry has been prices will continue to rise and outpace the finance costs. Your video gives me some additional things to think about, much appreciated.

@AZMarine513 11 ай бұрын

Excellent breakdown on how things work. It isn't always that obvious to many people. Your list has almost everyone that is on my YT subscription page.

@HowToBuildYourOwnHome 11 ай бұрын

Like minds sing alike

@cynthiaeddy9218 11 ай бұрын

Totally agree with you . The problem is the I don’t qualify with the higher rate . I have to wait sadly.

@HowToBuildYourOwnHome 11 ай бұрын

Think baby steps. Maybe you can qualify for land first.

@terrillmel 11 ай бұрын

Looking for reassurance. I'm getting bids and it was a little surprised about excavation and groundwork. My home is 2,200 ft² and my bid for excavation, grading, back fill, leveling around the house and then septic system install was 24,000. 24,000. Does that sound like it's in the ballpark? Sorry, I don't know these things.

@uploadtime1780 11 ай бұрын

Concrete has skyrocketed since 2019. It's probably correct. A 30*40 garage pad and slight grade excavation went from 6500 in summer of 2019 to 17-18k last two years and is finally back "down" to 12-14k for me.. shoulda woulda back then.

@HowToBuildYourOwnHome 10 ай бұрын

Sorry for the late reply. Yes, that sounds a little on the high side, but not too far. It depends on what the geotech report says and how much over excavation is required.

@robertking8633 11 ай бұрын

I have been getting the same feedback from sources and believe you have some great points to confirm it.

@HowToBuildYourOwnHome 11 ай бұрын

Thanks for the comment

@levijessop1744 11 ай бұрын

I just bought a lumber package for a new home in St George and osb is over 20 bucks a sheet for 4x8 at Home Depot and closer to 25-30 everywhere else.

@HowToBuildYourOwnHome 11 ай бұрын

Yup. Just a few weeks ago it was around 15, two years ago it was over 30. Kind of crazy.

@traddvarner1725 11 ай бұрын

What about overall construction costs? Material and labor, has the building market adjusted?

@HowToBuildYourOwnHome 11 ай бұрын

Labor is down a bit, some material costs down more.

@cameronwright5042 11 ай бұрын

I had land in spring of 2020 waited and waited and waited, now I'm finally done with my build, and I am 100k more than if I had started in 2020.

@HowToBuildYourOwnHome 11 ай бұрын

Thanks for the feedback.

@jjamesstewart 11 ай бұрын

Hi Keith, I'm a former mountain-wester (SG, LV) who now lives on the east coast. I travel to Europe now and then and have many European friends. What were you referring to when you mentioned restrictions on travel in Europe?

@HoldenMcG 11 ай бұрын

He's referring to the ambitious EU goal of being carbon neutral by 2050. That includes higher taxes on jet fuel, which may making flying cost prohibitive (of course, gasoline taxes will be increased right along with jet); sale of new gas/diesel powered cars to be eliminated by~2035, etc... When they can't meet these goals, what will then restrict next?

@HowToBuildYourOwnHome 11 ай бұрын

See comment above from HoldenMcG

@lombasto 11 ай бұрын

There must also be a lag when material prices respond to increased demand. Do you know how long that is? 1-2 months?

@HowToBuildYourOwnHome 11 ай бұрын

Not sure. My experience says 3-6 months, sometimes more

@vinhtrinh9662 11 ай бұрын

Thanks keith, It can be tricky though to balance hindsight vs what we believe as obvious macro economic conditions. Sometimes people talk about macro economics and decision making almost as if it's black and white when in all honesty it's not. I think you are giving sound advice, but people should also know that obvious sounding macro economic theory is just that and not to be mistaken as completely cause and effect.

@HowToBuildYourOwnHome 11 ай бұрын

Very true. Local markets are all different and some even move along contrary to national or macro trends.

@terrillmel 11 ай бұрын

But are subs passing these prices on to buyers? I hear you and I agree that if rates go down there will be a boom, but it seems like that is the exact thing the Fed is trying to avoid. But good point with the election year.

@HowToBuildYourOwnHome 11 ай бұрын

Some subs are dropping labor cost with less work.

@pam_jackson 11 ай бұрын

If I understand this correctly and one would be dealing with cash, now may be a could time to build.

@HowToBuildYourOwnHome 11 ай бұрын

Very true

@pam_jackson 11 ай бұрын

@@HowToBuildYourOwnHome The thrill of victory and the agony of defeat. I meant with my State Farm Insurance this morning. Wanted to see if there was an explanation for why my homeowner's insurance increased by $1,600.00. I was told that I was lucky because they are no longer offering homeowners insurance to anyone new to the county. I told him that I wanted to build an 800 sq ft house on my property and rent out the big house. He told me I might reconsider doing that because they wouldn't be able to insure it. Can you believe that one? I've been licking my wounds all-day on that news. On the drive home, I thought it was time to move out of California. The implications of this are scary. I'm not sure if my home is even sellable if someone can't get insurance. This is NOT how I wanted to spend my retirement years.

@yuanhenry5132 11 ай бұрын

Just purchased an old house for teardown,about to buy your 795$ package to learn from while architect getting my plan and permit ready. Any coupon code for the course? Lol

@HowToBuildYourOwnHome 11 ай бұрын

Fantastic! Use BUILDNOW25 at checkout. It will get you 25% off the Self Managed Course, and it will include the First Steps Course.