New construction cost can cause be a real sticker shock to someone who hasn’t been paying attention. Between building demand (due to wild fires and hurricanes) and import regulations affecting international suppliers, some materials have climbed as much as 25%. Three of the six main materials have seen particularly adjustments — asphalt, iron/steel, and lumber.
In addition, our growing economy has motivated more people to build or buy a home. If you’re looking to build a home on a reasonable budget, you may need to wait several years or so. It may even be worth buying your next home now and building your final home many years down the road.
Here are a few articles supporting this: