Southport Oak Island Realty Group, Inc

Why should I buy a home in this hot real estate market?

buy or build a home in coastal north carolina southport oak island realty group serving southport and oak island nc

To Buy or to build?

It is undeniable that home prices are high in the Southport, Oak Island, Boiling Spring Lakes, and St James Plantation, NC areas.

So why consider buying in this crazy market? We will break it down for you!

Since early 2021 we have seen a drastic increase in home prices in the Brunswick County, NC area. While inventories are still low and prices are high, realtors still say it is a good time to buy a home. We have crunched some numbers for you and agree it is still a great time to buy!

If you look at home prices locally as a whole, you will see that in Boiling spring lakes, NC you can get a home already built for around or just under two hundred ($200.00) per square foot. In Southport, the average for a built home is around three hundred and fifty ($350.00) per square foot. Oak Island-built home prices per square are about the same as Southport.

So why would I buy now and not just wait?

We dove in further and found out that on the cost to build a new home in Southport, Oak Island, Boiling Spring Lakes, and St. James Plantation averages between two hundred and fifty ($250) per square foot up to four hundred ($400) per square foot. While this may seem reasonable, that price does not include the property on which the home is built, the property clearing, prep, and utility installations. So, you can see how all this starts to add up to a lot of money, time, and headaches!

To top all that off, contractors locally are struggling to keep up with the high demand, and tell us that if you are looking into building a home, plan on at least 18 months to the move-in date!

So back to the main subject to buy or build?

While some may have the 18 months to wait, be willing to deal with all the leg work associated with finding the perfect lot, interviewing contractors, designing the home with an architect, pricing everything out, and then waiting for the home to be built. Others are ready to move and want a home!

With all that being said it is cheaper at this time, with inflation, lack of building materials, and labor in our local area to buy a home that is built rather than having one built for you. That is of course unless you want the option of designing your next home and are willing to wait.

Whatever your decision is, we here at Southport Oak Island Realty Group are here for YOU! We have experienced agents that live here and are from here, to help guide you through our different communities and locations to help you decide where to buy your next home or lot.

Contact us today!

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Jon Langley

Jon Langley

Hi! Nice to 'meet' you and thanks for visiting our Southport and Oak Island Real Estate Blog! My name is Jon Langley, and I'm a REALTOR® in Brunswick County, NC. I work alongside some of the best Realtors in the Southport & Oak Island area. I'd love to learn more about you if you'd like to connect with me on Facebook and Instagram or connect with our team at Southport Oak Island Realty Group. Looking forward to connecting!

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