Never in the last decade of my life have I seen such volatility in a housing market. After the world “shut down”, building houses did anything but that. Construction went from a steady in an already booming market, to pure chaos. Contractors could only guarantee their bids and estimates for 5 days! To put that into perspective it takes 2-3 months for a bank to approve your bids.If your bids are already 3 months out of date by the time the bank even looks at them, likely the cost of the house nearly doubled. As a builder that was quite challenging.
So should you build a house in today's market? Well, if you have the choice then NO! But if you are in a situation where you have no other option then, do what you need to do. Let me further explain. In this day and age, we want instant gratification. We get that through social media, and other aspects of life. With more and more instant gratification, comes the expectation that everything should happen that way. But the reality is that it's hard to get materials, mostly due to other parts of the world shutting down and not producing the products for construction. It's also difficult to get subcontractors. With these two challenges, homes are getting behind schedule and banks are charging high interest rates on loans. Not to mention the cost of materials are inflated adding one thing to the cost of your home.
So why the honest take? Shouldn't I be selling you on building your home? Well at the end of the day, I am not that type of builder, I want people to get their dream home at a cost and time that will be best for them. At Mathew Made, we find our motivation is not in the money but rather in the experience we have had helping others with their dreams. In return the money always follows value and we find fulfillment.
So what do I do now that I have no other option but to build in this market? If possible, finance as much as you possibly can upfront. If that isn't an option, find a builder that will guarantee you a successful build. That will put you first and make sure you are taken care of. Anything can happen so do your homework and if necessary, get involved.
lastly some words of encouragement, it's been almost a year since the hight of the pandemic and we are seeing lumber cost come down and sub-contractors availably open up. Not to mention the market has become stable again with hundreds of homes on the market again. This all points to a more stable and less risky building environment.
A simple google search for, “ home builders in Cedar City, UT” will yield about 121 general contractors. Assuming one wants to limit their choices to contractors with 4.5 stars and above, that still leaves about 15 to choose from. Finding the right contractor to build a home can be challenging. When it comes to finding the right builder there are three key things Mathew Made Construction suggests.
First, find 5 builders who have houses going up and talk to the current homeowners. Perhaps find someone who just started, someone in the middle of the process and another whose house is nearing completion. This process is pretty simple. Drive around on weekends or after hours. Typically owners are excited about the progress of their home and tend to spend time at the site.If you know of builders like Alex Misner or Choice builders, visit large developments like Crescent hills in Cedar city or Old Sorrel Ranch. These sites offer dozens of home owners to talk to. These homes typically aren't 100% custom but still offer great service to first time home buyers. This whole process can be time consuming and uncomfortable but rewarding for those who are new to town and don't otherwise know where to start.
Secondly, attend the festival of homes. The festival of homes in cedar city is a show of 12 new houses that showcase the builders styles, capabilities and personality. Visit each house and talk with the builders in person. It may be the only time you get to chat with 12 builders in a relatively short time. Ask questions like, how long is the waitlist to build or what differentiates them from the other general contractors. It will be a good time to feel out the builder. If the builder has a long waitlist or dozens of homes going on at once, I recommend to keep looking! Find someone who is excited about building and has the time to listen.
Lastly, the best part about living in a relatively small community of 50k people is that the community is great. People are always ready to help and share their opinion. For example, joining the blogshops on facebook have thousands of people. Simply post “ I'm looking for reliable home builders in Cedar City with a good reputation and with a small wait list.” In the matter of 2 hours dozens of recommendations will be jumping out of the comments.
To finish this up, in the last 15 years I have spent in the construction industry, I have seen really great contractors and really bad ones. Just because a contractor has been doing business for 20-30 years doesn't always mean they are the best. Or just because someone has a big name and does 100 homes a year doesn't mean the offer the best bang for the buck. Some of the best contractors with high quality and affordable prices are referred from friends and family. If you have enjoyed this article, then Mathew Made Construction may be a great option for you. We build custom high quality homes at affordable prices. The reason we can say affordable prices is because simply we charge less and still offer the same subcontractors as our competitors. Call us today at 435-590-8498. Or visit our transparent pricing on our website. www.mathewmade.com.