New Construction Project in Raleigh, NC

[Emily Rose]

So I'm researching the costs of building new construction in Raleigh. My father has a successful construction arm in his real estate business on the coast and I've been picking his brain for months about how to replicate that process in Raleigh. Is there anyone who is doing either spec homes or custom home building successfully in the Raleigh market (or surrounding ares) that wouldn't mind answering some questions? 

What are you seeing as average cost to build per sq/ft? I'm looking to build in the secondary markets around Raleigh (Knightdale, Clayton, Garner, etc.) Do you build in only Raleigh or out in to the other markets as well? 

I have blueprints for a home we just finished building near the coast, would someone be able to give me an idea about the cost for building a home of this type in Raleigh? That way I can compare the costs and figure out what my budget for land needs to be.

I'll be starting my first project in 2017 and I am so excited to get started! Thanks in advance for any tips :)

[Chris Martin]

Sounds like the first people to talk to are those builders in outlying areas. For $/sq.ft. I think there are multiple answers depending on your target market. There virtually are no sub $100,000 new houses other than infills in Wake county anymore. October had 0, November had 8 infills. I assume you are in the $1M category? There are not that many new builds in that range so you, literally, could look at each one and draw a conclusion.

In the last few months, new home sales (by volume, not $) are about the same as the sales volume of existing homes in 4 segments tracked by the county in the $300K-$1M categories. So obviously you still have a really strong new home sales market.

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