According to this article by CNNMoney, now is a great time to build your dream home. Cost of materials, land, and skilled labor is at it’s lowest in years. For example, Framing lumber is now 18% cheaper than it was 18 months ago, while drywall is selling for 40% less. Also new home starts are down 34% so contractors are willing to bid much lower to keep jobs coming in as they ride out the downturn.
Even with all of these savings some homeowners are looking to become more involved in their home building project and decide to take on the role of general contractor which can save an additional 25% but its always best to hire professional help as a backup. Renovation consultants and consulting contractors can assist you in planning out your build, gaining permits, and even hiring subs, but you’ll still have to do the dirty work and manage the team if you are going to save any money.