Benefits of a new subdivison home on Hilton Head Island can be substantial. In our coastal area, new construction comes with the knowledge that the builder has had to use improved materials. Specifically, the building codes have changed substantially due to the Florida hurricanes and Beaufort County, and Hilton Head Island in particular, have adopted those 2005 Miami-Dade standards. This benefits the buyer since windows must withstand specific wind speeds, new elevations are required, roof construction and material standards have been upgraded, and in general, exterior sheathing and insulation has improved as well.
The cost per square foot for new construction is generally based on final selections in the case of a custom home; one of the benefits of a new subdivision home on Hilton Head Island is that you'll realize tremendous economies of scale. That national builder is buying materials in huge quantities and you can benefit greatly. What used to be considered upgrades are now standard; i.e., porches, garages, 42" cabinets, granite, cultured marble in bathrooms, manufactured hardwood floors, 6" baseboard, bath fixtures, kitchen fixtures, and the list goes on and on.
Another substantial cost savings is that the price of homesites has dropped precipitously throughout Beaufort County but notably on Hilton Head Island. Builders have been willing to buy up small parcels on the island due to the dramatic changes in price; what may have cost $100,000/site is now closer to $40,000 - this again translates into more acceptable margins for them and savings for buyers. If purchasing a home/lot package, the buyer does not have to carry the cost of construction; after the initial deposit, usually another deposit after selections and at ground-breaking, often times no additional funding is required until construction completion - and often the national builders have in-house financing and offer some seller incentives if you use their lender.
There are currently two communities on the island that have national builders involved in new construction; both incidentally on the north end of the island. The general comment I hear is that the new homes don't have the character and the neighborhood is not as well-established. One of the stars of HGTV's home series, Sarah Richardson gives some terrific decorating tips for a new subdivision home feel less like every other subdivision home.
The time to build is generally six months; not all that bad since it gives you time to sell your current home and both of the builders have an option for you to build contingent on that sale. It's a great incentive to spruce up your home, clear out the clutter, make the move you've dreamed of, take advantage of the dramatically low interest rates, and get ready for your new life on Hilton Head Island.
For specific information about the new construction on Hilton Head Island, or to buy your own homesite, check out my website!
Comments(0)