Timing Your Sedona Custom Home Project

Is it finally time to build a home in Sedona? The answer is a resounding "yes". If you have ever considered the idea of living in a new home in Sedona, here are four very good reasons why you may want to act quickly.  The Sedona Real Estate market is mending at a healthy rate, and is likely to continue baring some catastrophic event. Add it all up and the idea that "it is less expensive to buy than build" becomes a myth in Sedona. So lets dig deeper into the details to see why it is time to build in Sedona.

• The Cost of Land: When the housing market started to crash in 2008, land fell even further in Sedona. Some say that land cost dropped an average of 60% in some areas, and for the past 5 years land sales were slow to nonexistent. Reasons include a lack of consumer confidence, and the lack of borrowing power. Recent trends show that consumer confidence has improved and lenders are relaxing. Sedona title companies are reporting that there has been an increase in land closings, and Sedona Land Brokers are reporting more showings. This, of course, puts upward pressure on the cost of land purchases. So if you believe in the principle of "buy low-sell high", then buy now!
• The Cost of Construction: Along with the crash of housing prices, we witnessed collateral damage to the construction industry. Many builders, remodelers, suppliers, showrooms and the like lost their businesses or downsized to the lowest possible denominator to survive. Builders simply could not cut their costs by the same percentages as the housing drop, so jobs were lost and many good employees changed professions if they could. But take a drive through the Sedona subdivisions today and you will see houses coming out the the ground again. And you can bet that the current labor force is stretched to the limit. So the cost of construction will most like go up by the time you are ready to build.
• Housing Inventory: Realtors and banks are reporting that much of the distressed inventory from the decline has nearly vanished, so buyers no longer have the great "deals" of yesteryear. Most of the remaining Sedona housing inventory is in the mid to higher price ranges, and many of the mid-range homes will require remodeling dollars eventually. Many low to mid-range homes are either in undesirable locations, or have deferred maintenance problems due to age, or are a stylistic train wreck. In many cases if you add the cost of remodeling you are in balance with the cost of a new build.
• Housing Appreciation: History and logic says that newer homes appreciate at a healthier rate, especially if they are in a desirable location. Of course the value of any home is also very dependent on the quality of the design and construction. A home with a great space plan, energy efficient systems, and a sustainable style will have a stronger market appeal and a higher future value.
• A Word of Advice: If you want a smart master plan for you and your family, it makes sense to purchase land before the prices are out of reach and to start construction before Builders get too busy for you. It is also wise to work with qualified professionals who can guide you through the many new technologies and design options, so that you can make the very most of your investment. So YES, go find a lot and build in Sedona!