Hi everyone! I was speaking to one of my custom home builders the other day.  They build many high end custom homes in the Lake Conroe/Montgomery area and they mentioned that the price of lumber has gone up a whopping 20%!  Not to mention the outrageous increase in concrete. 

I tell ya, these fuel prices get us from every direction, don’t they?  So, what does this mean for the buyer wanting to build from the ground up?  A huge price tag! They are estimating their average home price of $400,000 on a brand new inventory home today, to cost at least $50,000-$60,000 more if they broke ground for a new build today. 

This is one of their inventory homes that is currently for sale at $389,000 (209 Lakeside Hills). They said that with the increase in lot prices and the cost of building, they would be lucky to build and sell this exact home for less than $475,000.

Point is, look at all your options before making this very expensive decision. If you want new, look at every inventory home you and your agent can find that meets your criteria.  You may be saving a lot of money. And don’t under estimate the true value you can find in a home already built just for you.