New Home Construction at Highest Point Since 2008
CHICOPEE, Mass. (WGGB) –A.J. Crane’s day usually starts by checking on his all of his different projects, but he might have to do some more running around with signs that the housing market is looking up.
“We’re working on a new house in Granby, Homes for Our Troops with Sgt. Joshua Broussard that’s a new construction house, we’re also working on a new remodel in Chicopee,” he said.
According to the Commerce Department, new construction on single family homes is at its highest point since July 2008. That includes a 15% jump between August and September alone.
Crane co-owns A. Crane Construction Company in Chicopee says the findings echo his workload.
“We’re seeing a lot of plans that we’re putting out estimates on, working with banks to free up money for the customers, lot of additions, people remodeling to they can stay where they are already. Put money into the cycle. I think people’s confidence was a little less than it was before. So they want to make sure the investment in their home says where it is.”
If you’re in the market for a house, is it better to build one from the ground up? Or buy an existing home?
“It’s always location, location, location. If you find a lot that you love, or your family is in the area, friends in a subdivision, then you should take that into serious consideration. If you’re in a neighborhood you’ve been in for 50 years, maybe it’s a better idea to put an addition on with a new kitchen or a master suite, rather than build a new house in a whole new neighborhood.”
Crane adds that more folks are opting to add on to their current homes, to increase its value.
However, if you prefer to break ground on a new house, he says it could become more costly going into the winter. “If you get you’re holes in the ground now, your foundations, the asphalt plants will start closing up, and it’ll be more expensive to dig as it gets colder. You can do a lot of work in the winter if you’re careful about it,” Crane stated.
If you’re getting any kind of work done on your property, there’s one more tidbit to keep in mind. He notes that it’s important to hire the right contractor, because he spends about 3-4 jobs a year fixing other people’s mistakes.
Applications for building permits are also at a 4 year high.