Over the last 16 months, the housing industry has been dramatically impacted by events beyond anyone’s wildest imagination. While housing has been, and continues to be, a bright spot in the nation’s economy, the reality is that home builders face unique challenges that impact both the cost of building and construction timelines. These changes ultimately impact you, our customers, so we wanted to share exactly what is happening in the housing market, and what Copper Builders is doing to continue building amazing, custom homes on your lot in Charlotte.
Challenge: Supply and Demand
There is an incredible demand for new homes right now, and for the past year, there’s not been enough supply of materials to build them. The materials shortage has been due to pandemic-related factory shutdowns and a decreased workforce. Although some of these materials, like lumber, are only now starting to become more widely available (and its record-high prices slowly drifting back down), there’s still a backlog of demand to be met, and that will take some time.
Still today, all home builders are managing unpredictable costs and extended build times as the market struggles to correct itself. Lumber is only one example. Product delays or suspensions have affected nearly every line item in a home’s budget — from concrete, cabinets, and appliances to paint and sheetrock. It’s been a challenging year for home builders, to say the least.
Yet, construction has moved forward, and we’re proud to say that Copper Builders has been at the vanguard of that movement here in Charlotte. Here’s what we are doing to meet and overcome the challenges of this unprecedented market, and continue to build quality, custom homes for you.
Solution: Fixed Price Contracts
With so much fluctuation in the cost of lumber, resin, and other materials, it can be a challenge to approximate what the final cost of a home will be. Instead of adding price escalation clauses to our contracts that can create uncertainty and frustration for buyers, we offer fixed price contracts. Once you sign your agreement to build a Copper home, you are locking in today’s material costs, and if they increase by the time construction is complete, we will absorb it. It’s important to us that our customers’ expectations are met in full with a home that is built on time and on budget.
In fact, we urge you to determine your budget and lock in today’s home prices as soon as possible. Home values in Charlotte have been on a steep upward trajectory since late 2020, and as of March 2021, had increased 16.4% year-over-year. With Charlotte being the 3rd fastest growing city in the nation, values show no signs of slowing. By locking in the price of a new home today, you know exactly what the final cost will be when construction is complete.
Copper Builders is committed to providing the same high-end, custom, build on your lot homes in Charlotte that we have become known for, even in the face of a tough market. We will continue to absorb as much of the impact as possible, guaranteeing a smooth, seamless building experience for our customers.
And while the build time for your new home may be slightly longer than normal if we need to wait on specific products, the result is a beautiful new home that costs what you expect, is built to your exact specifications, and will make your life feel more luxurious from here on out.
If you would like to learn more about Copper Builders’ fixed price contracts, or have any questions about the BOYL home construction process in Charlotte, please contact Kelsey at 704-389-5237 or schedule a model home tour in Charlotte. We can’t wait to get started!