South Florida has always been synonymous with sandy beaches, warm sunny weather, and maybe a mai tai or two. It’s that delectable reputation that paradise has built that drives more and more new residents to our shores, but what gets people to stay and invest in our city for the long haul is the opportunity to build a new kind of lifestyle.
Miami offers homeowners an opportunity to build a dream home, tailor-made for them, at a relatively low point of entry. Now, wait, before you start shouting “LOW?!” while reading this, hear us out.
In fact, Miami’s market is still undervalued. Bubble or no – we’re still going up, and honestly, only Elon Musk and the billionaire space club knows just how far we intend to go before heading back down to Earth.
So, what does that mean for those who are looking to invest and build new in Miami or South Florida? Plenty.
Here’s what you really need to know if you are considering building new.
If you’re interested in building new but are concerned about the current state of supply chain disruption and subsequent pricing models, let us be the first to tell you: this is not going to get better in the near future. In fact, pricing for materials may only go up over the next few years. And demand has not dwindled.
Translation? Timelines are only going to extend, and waitlists are only going to get longer. If you are certain you want to either undergo a large renovation or build new but are not sure you are 100% ready to break ground today – that’s fine. In fact, it’s perfect. You can contact an architect and start strategizing and planning today instead of sitting in limbo and having your project’s start date be listed even further down the road.
We’re sure by now you are familiar with the term “The Great Resignation.” While it may sound like a far-off notion, the realities of labor shortages are affecting the entire build process from vendor and manufacturer staffing to delivery drivers and engineering and permitting staff.
What does this mean for you? Essentially, everything is taking longer than it did in a pre-covid world. Does it mean it will only get worse? Actually, no. We’re already starting to see improvements across the industry, but it is not something we can wave a magic wand at and say “alohamora,” and hope to have unlocked all the new construction secrets to a speedy build (trust us, we’ve tried).
As we mentioned earlier, the demand for property in South Florida is only getting hotter. This means, finding the right land to build your home will only become more difficult as single-family homes continue to be in high-demand. Finding the lot that you truly want may prove a harder undertaking as more and more homeowners see the potential of living in Miami: space, paradise, and a market that isn’t going anywhere soon.
Long story short? If you are ready – and even if you are not quite ready – now is the best time to get started on your new construction build in South Florida. If you have any questions about the process or anticipated timeline, give us a call today.