Just posted on June 6th is the much anticipated news about our local construction industry. For many month’s now we have seen a small but steady upswing in the number of single family home permits being pulled by builders in our Lee County.
Here is the best news yet!
Good news for Lee County and our recovering new construction market. Contractors pulled 81 permits to build single family homes in May. That number is up from the previous month of April with 66 new permits pulled.
The “Lee County Builders Industry Association” says this will create more jobs here in Southwest Florida. While the news is excellent, it came as no surprise to this group. Back a couple of month’s ago, county commissioners decided in an almost unanimous vote to reduce impact fees for new construction by 80%. That was a huge move by the county commissioners to try and jump start a building rebound.
The head of the Association, Heather Mazuikiewicz stated, “This means jobs and that is the one thing we need to boost our local economy and help our single largest local industry here in Lee County. Our industry is the actual backbone of our economy.”
As a long time local Realtor, that has worked with builders for years, I can tell you that new construction is needed due to the low available inventory of existing homes, and a high demand from home buyers. When available inventory is low, builders start putting “Spec” homes in the ground as fast as they can. [Spec= Homes built on speculation, without a specific buyer in mind, using their own money to construct].
While custom homes take a bit longer to design, find a lot to purchase, and construct, the Cooke-cutter “Spec” homes can be built in 5-6 months. Most builders have 2-3 nice basic designs they use for these “Spec” homes. They usually already have several lots in their inventory for just this purpose. Most builders also offer a range of choices in pricing from the $170,000 price point up to $250,000.
Its a good time for the consumer to build a home, with material prices for plywood, concrete block, studs, and plumbing parts remaining stable and in good quantities.