August 2021 - Bedico Creek Preserve

An Uptick in Home Building Construction Times During 2020

August 26, 2021/in Local News

The 2020 Survey of Construction (SOC) revealed that it took 10 days less to finish a home from authorization to completion in 2020 than in 2019. The survey also shows that the average completion time of a single-family house is around 7.8 months, which usually includes a little over a month from authorization to start and another 6.8 months to finish the construction. Good news for the housing market as inventory has been very low the past year.

Depending on the function of the new construction single-family homes the time it takes to complete varies. For a house built for sale, it took the shortest amount of time which was 6.9 months from permits to completion. A new construction home built by owners took around 13 months and a home built for rent took around 10.6 months. New construction homes built by a hired contractor only took 9.7 months from permits to completion.

Time also varies by region. The region with the longest time tied with Middle Atlantic and New England at 11.6 months while the shortest was the South Atlantic division with an average of 7.8 months. The remaining regions include the Pacific at 10 months and East South Central at 9.1 months.

Hopefully, with the shorter construction times, there will be more inventory for homebuyers. If you are in the market for a new home, choose a Realtor to help you with the process.

Click Here For the Source of the Information.

This home sits on a cul de sac lot and features three bedrooms and three bathrooms.

Buyers’ Must-Haves When It Comes to Kitchen and Bath Features

August 25, 2021/in Bedico Creek Blog

The National Association of Home Builders’ publication What Home Buyers Really Want, 2021 Edition, gave us the top features buyers want in a kitchen and a bathroom. In the kitchen, four out of every ten buyers feel that a double sink is essential and expressed they would probably not purchase a home without this feature. For bathrooms, most buyers said it was essential for a separate shower and tub in the primary bathroom.

The kitchen top 10 kitchen features that rated essential or desirable were a double sink (side-by-side) 81%, walk-in pantry 81%, table space for eating 78%, a central island 77%, drinking water filtration 76%, granite/natural stone countertops 73%, recessed lighting 69%, customized backsplash 69%, pull-out shelves 68% and a breakfast bar 64%.

Broken out by buyers who say it is essential and buyers who say a feature is desirable were surprising. For the top 10 features that were essential 42% of buyers said a double sink, 35% table space for eating, 34% chose a walk-in pantry, 32% said a central island, 32% drinking water filtration, 26% granite/natural stone countertops, 26% recessed lighting, 23% customized backsplash, 22% pull-out shelves and 19% breakfast bar.

Bathrooms are deemed very important to today’s buyers, especially the primary bathroom. The top ten on the list for the home’s primary bathroom were a linen closet 76%, both shower stall & tub 74%, double vanity 69%, private toilet compartment 67%, toilet, tub & sink-white 65%, granite vanity 65%, ceramic tile walls, multiple shower heads 59%, whirlpool tub 56% and body spray panel 56%.

Buyers who said that the bath shower stall & tub were essential ranked the highest at 36% while the linen closet ranked the highest in desirable at 49%. The lowest-ranked feature for both essential and desirable were dual toilets.

If you are in the market for a new home, now is the time to purchase one due to historically low interest rates. Remember to use a Realtor who can help you with the process from choosing a home to closing.

Click Here For the Source of the Information.