Local builder says more customers customizing
Wed, 17 Apr 2013 23:44:35 GMT —
Construction on new U.S. homes in March hit the highest rate in almost five years, according to Department of Commerce data.
Fred Coyne with Westbridge Homes has been building homes for 26 years. He said the growing number of baby boomers buying homes has changed the local housing market.
"It's kind of their opportunity, it's sort of like this last big project and an opportunity to just kind of pull everything together through the years, all the things that they've ever wished for," he said.
Coyne explained home buyers are getting more and more specific with their demands and a growing number of home buyers want to reward themselves with special features around the house.
Tom Maeser, a market analyst with the Coastal Carolina Association of Realtors, said the reason for more personally-built homes comes down to a decrease in the cost of property.
"The land prices are so low know because foreclosures have driven all of that down," he explained.
So Maeser said a really nice home can be built for a much lower price. But, the more detailed and specific the home's special features, the bigger the challenge it places on builders like Coyne.
"It's their home," Coyne explained, "I'm not going to live there with them. They're the customer and we're going to do our best to accommodate them."
According to the National Association of Homebuilders, every home built creates an average of three jobs for a year and generates about $90,000 in tax revenue.