Builder Sees Increased Demand
By Brad Finkelstein
LEXINGTON, SC-There is a “marked increase” in the number of pre-sold custom built homes, according to one builder in this market. The reason: stabilized and lower builder material costs, coupled with lower interest rates.
“I have experienced more demand for large, high-end custom homes in the last three months than I had in the last two years combined,” said local builder Steve Baudo, owner of Baudo & Associates Home Builders Inc. here. “We typically focus our efforts on homes starting around the $400,000 and up, but lately the bulk of interest seems to be in the $1,000,000 plus range. We are in the process of gearing up to meet the demand as our pipeline continues to fill up.”
Todd Lewis, senior account representative with 84 Lumber Co., explains why some people might be interested in a custom-built home. “Lumber composites (which include pine, spruce, and fir) have dropped over 34%. Panels (plywood) have dropped over 12%. The overall lumber market has changed very little over the past 24 months. With lumber on a ten-year low and little change in the market recently, one would tend to rationalize that drastic price decreases are not on the horizon. In combination with competitive quality labor prices, readily available lots, record low interest rates, and a down lumber market, now is the perfect time to build a home not only as everyone dreams of but also as a sound investment.”
