This New, Garden Home Floorplan is a beautiful upgraded courtyard style garden home with 1,895 square feet of living area, three bedrooms – plus a computer room and two baths. High ceilings throughout with abundant crown molding, all hard surface wood floors and 8’ tall doors. Sloped kitchen ceiling with exposed wood beams. Private brick wall enclosed French Quarter-style courtyard with brick entrance sidewalk, and both an uncovered and brick-floored, covered patio. Huge, open, walk-in tile shower in the master bath.
Priced in the Low $300’s.
Other Two Bedroom and Three Bedroom Floorplan Designs Are Available to Build Your Custom Home on One of the Few Remaining Garden Home Lots Priced From the $270’s Up to the Mid-$400’s.
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The National Association of Home Builders projected approximately 511,000 new homes would be sold during 2015, and the new home sales numbers surpassed that prediction by a small landslide bringing in 544,000 new home sales on a seasonally adjusted basis in December, 2015. This was welcome news for home builders showing a recovery in new home sales numbers. The increase was a 10.8% increase year-over-year, and this also heralded the best year for new home sales since 2007, just before the housing market crash. In the South region specifically, new home sales were up 17.6% – the second highest percentage in the nation.
In addition to an increase in sales, new home inventory also increased during the month of December by 2.6% to 237,000 available homes for sale. However, the combination of the sales rate and the available inventory shows a trend in supply and demand that is on the rise. The monthly supply of new home inventory fell from 5.5 months to 5.2 months with the building and selling of these new homes.
The prices of homes being sold are also encouraging. First-time home buyers have yet to take a strong hold in the market, but second and third-time home buyers are making purchases of new homes in the $200’s – $400’s, which means that they are able to “move up” from their existing homes into their next home. This also indicates the sale of existing homes for sale, which shows a well-rounded, moving real estate market.
Another positive trend that has emerged is the sale of pre-sold homes. These are homes that builders are advertising before they ever break ground on the new construction. The rendering and floorplan, as well as the lot layout may be all the new home buyer has to go on to sign a contract to buy the home, but with the reduction in available inventory, the increase in unused building permits and new home starts, the only explanation is that builders are able to sell their homes before they start building them. This trend was prevalent during the early 2000’s and shows that the housing market seems to finally be on its way to a full recovery.
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With the housing market being such an important part of the Gross Domestic Product (GDP), the National Association of Home Builders (NAHB) keeps a constant eye on the real estate industry, taking specific measurements of all vital statistics that will keep industry professionals aware of housing trends either before or as they are happening. There are many ways to measure the growth or shrinkage of housing by just looking at the numbers. Some of the statistics that are measured monthly include housing permits, housing starts, housing contracts, pending sales, existing home sales, new home sales, and many more.
During the month of January, numbers were complied for housing statistics during the entire year of 2015. The NAHB reported that housing permits and housing starts were up significantly for the year 2015, compared to 2014. Year-over-year increases for housing permits were up 12% to 1.18 million permits. Single-family home building permits were up by 7.9%. Specifically, December, 2015, saw an increase of 1.8% in building permits compared to November, 2015.
For housing starts, the percentages were also significantly high for 2015 compared to 2014. Total single-family housing starts in 2015 rose 10.4% to 715,300. At Bedico Creek Preserve, a masterplanned community in the Greater New Orleans area, the completion of 2 more neighborhoods during 2015 with developed lots ready to build has accounted for the significant increase in construction of new homes on our lots. We have also seen a surge in lot sales to individual owners interested in building a new home on their lot.
With 16 new home builders from which to choose, our home buyers and lot buyers have a selection of styles, quality, and floorplans to begin building their dream home or you can buy a new home for sale that is ready to move in. If you are interested in a new home community that takes you away from it all with a natural setting and wildlife habitat with quality new home construction, Visit Us at Bedico Creek and Choose Your Lot Today. Contact Us at 985-845-420 or E-mail Info@LiveBedico.com.
The majority of home buyers interested in building a new, single-family home or new, custom home remain 2nd, 3rd, and fully custom home buyers. The re-entry of the 1st time home buyer to the real estate market has not yet begin post-Recession. While the housing market has been recovering on a slow and steady pace since 2012 when house pricing started to really climb, it has not recovered enough to allow qualification of credit for first-time home buyers. The number of approved FHA loans – loans typically offered to 1st time home buyers – has remained stagnant for many quarters in a row. Even with the lowering of the down payment cost from $5,000 to $3,000, there has not been a great surge of first-time home buyers into the housing market.
Because of these statistics, the average size of a new, single-family home has remained above average compared to the years just before the Recession. Historically, it is typical for home buyers with more security, fewer credit problems, and a larger investment to be able to build and afford “more home,” so the larger square footage of homes is not unexpected coming out of the Recession. However, for the 2nd quarter of 2015, the median square footage of new homes built dropped slightly and then remained the same for the 3rd quarter. During the 2nd quarter of 2015, the living square footage of new, single-family homes dropped from 2,478 to 2,445. Total square footage dropped from 2,704 to 2,653.
Historically, total square footage during the 2nd quarter of 2015 was up by 13%, and the living square footage amount was up by 17%. The cost of building these square footages is on-average – $468,318 for a new home built on 1/2 acre of land. Of that cost, 61.8% was construction costs, lot cost was 18.2%, builder profit was 9%, and overhead was 5.6%. The remaining percentage of the cost to build and buy a new home included Realtor commission, financing and marketing. These costs are not dissimilar from 2013’s numbers, so the percentage breakdown of the cost of building a new home have not changed much in the last two years.
Click Here and Here for the Sources of Information.
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