Will building a custom home price per sq. ft be less now, with the changing market??

Asked by Alicia, California Wed Aug 15, 2007

Iam opting on purshasing a lot and having a home built to my specific needs; but, wtih the changing market, and more foreclosures, Iam wondering if the price per sq. ft will be affected in building a home. Thank you for your help!!

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Bruce Lynn, Agent, Coppell, TX
Wed Aug 15, 2007
Nice question.....I don't think you can get a significantly better deal, but maybe slightly. You may be able to squeeze the contractor a bit if now they are looking for work vs being super busy. I'd guess most builders didn't have huge margins to start with though as it is a pretty competitive market in most places. Also your raw material prices likely haven't changed much or continue to go up. There might be just a little more room on your material prices today if suppliers have over ordered inventory that they now need to move in a slower market.
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