As of October, new home construction has hit a 4 year high!  And the consistent month over month growth to this level indicates that the housing industry is strengthening and has re-bounded off of it's 2008 lows. One of the primary factors that contributed to this increase is low mortgage rates, which will continue to stay low for the forseeable future, especially with the recent Federal Reserve decision to purchase $40 billion in mortgages every month.

So what does this mean if you are planning on building, remodeling or renovating a home on Cape Cod? Well first of all, you should strongly consider building or starting your project to take advantage of the low mortgage rates, available labor, and still-low material costs.  Second, we forsee a continued, steady increase in material and labor costs over the next 12-18 months, in response to the natural supply and demand cycles, so building now could save you thousands of dollars on your project.  As building demand increases, new regulations will come into play, and there is already talk of upgrading the energy and other mechanical codes over the next 2 years that may add as much as 5-10% to the cost of your project. Finally, land prices will begin to stabilize and then increase based on demand as well, and with limited raw land available on Cape Cod, who knows what a lot might cost in a few years!  If you are thinking of building your Cape Cod home, you really should CONTACT US today to see how you can take advantage of the current market.

Here is the complete article from CNN Money: Home Building at 4 Year High

So now that things have settled after the election, there should be a little more predictability in the marketplace.  If you have been sitting on the sidelines, waiting to see where the Real Estate market would settle, especially on Cape Cod, you know that demand is on the rise and things are beginning to steadily improve.  The big question, therefore, is should you Build your home on Cape Cod now, or wait?  The answer to that question is simple: Build Now!  Real estate prices have stabilized, and are still at lower levels than the past, providing value in the marketplace.  Also, building codes are continuing to change, increasing the cost of construction 5-15% with each new revision.  All of the data is positive, and there is still time to take advantage of low interest rates, and reasonable property prices. 

Here is an article from HSH.com that talks about some other factors:  Why Build Now?

REEF published a similar article this year

Don't miss the boat! This could be the year you Build, Renovate or Remodel your Cape Cod Dream Home!

   This is an interesting time in the Building, Remodeling, and Renovation Business on Cape Cod and across the nation! Prices have been very low for the last 4+ years, and all indications are that the recession is nearing an end.  Labor and material prices are still at historic lows, but that trend is seeing an end...  If you are thinking of Building a New Home, Remodeling, or Renovating on Cape Cod, then you must download our Fall 2012 Guide: Why Build Now!. 

Click Here to Download:

    This question was posed to REEF a few months ago: Can you build a new home for under $100,000? We accepted the challenge, and were able to come up with a design for this customer's lot that we can build, turn-key, for under $100,000.  Over the next few months, we will provide photos and updates from the site, covering daily and weekly progress.  This home is small, but it meets the customers needs and is tastefully designed and well appointed on the inside.  As a custom builder on Cape Cod, we see all types of projects, ranging from basement renovations, additions, new homes and luxury homes.  This challenge was something that we had always wanted to take on, and through smart design, and some innovative planning, our team has come through once again! 

Be sure to follow along over the next several weeks and see how we do! 

If you are wondering how much your next project might cost, click below to download our construction cost guide!