As many property analysts point out, now is a good time to invest in building your own home. This decision should be taken especially by those who have been delaying such an investment for a long time due to unstable prices of construction materials. It is therefore worth taking a closer look at the market for building materials and services after a period of galloping inflation
Good time to build a house
Deciding to start building a house still this year may turn out to be a bull’s eye. This is due, among other things, to the fact that everything indicates that the period of rising prices of construction services and materials is currently coming to an end. Analysts point to the opposite situation. It is predicted that the prices of construction services and materials will remain at the same level or may even fall marginally. This is especially true for single-family construction. Such forecasts are based on careful observation and analysis of the market for products used in the construction industry, including the construction of single-family houses. A fall in the prices of these products could already be seen at the turn of the summer and autumn of this year. This applies to most categories of construction products. In other categories, however, prices remained at the same level or increased only symbolically. The price decreases primarily concern OSB, timber, waterproofing and roofs and gutters
Price increases below inflation
The average prices of the construction range are today more than 1% higher compared to last year’s prices. However, there is no denying that the price growth rate is steadily declining. Even at the beginning of this year, it was still in double digits. However, it is worth taking a look at what construction products have become more expensive over this period. Lime and cement should be mentioned first. Despite the price drop at the turn of the summer and autumn, these materials are still much more expensive than a year ago. The price increase concerned paints and varnishes. However, this price increase remained below inflation. This means that the cost of building a single-family house this year is little changed compared to last year. For investors, this is very good news. After all, they do not have to take out a much larger loan to build a house today
Time is of the essence
The stabilisation of building material prices is not the only fact worth noting. As analysts point out, the supply of plots of land has also increased recently and the availability of credit has improved. All this means that the mood in the construction industry has improved significantly. This is clearly indicated by the results of the autumn construction fairs, which are a kind of barometer of the construction autumn. It is worth bearing this in mind when deciding to build a house. The sooner, the better. A much better situation in the construction industry may mean an increase in prices. This is the law of the market. Therefore, it is worth not delaying the decision too long
Price stabilisation and construction cost estimates
Stabilisation of building material prices on the market greatly facilitates the preparation of a building estimate. In other words, it becomes much safer. It is clear that a financial margin of safety must be included in any such cost estimate. This is precisely because of the possible increase in the price of building materials already during the construction work. Not so long ago, there was a very high risk of the financial margin being exceeded. Today, this risk is much smaller. As a result, the construction of a house can be approached much more calmly. For more on price rises and building a house, see Price rises and building – Warta.pl
Insurance of house construction
As indicated, today is the time when it is worth making a decision to build a house. However, it is important to provide additional insurance cover for such an investment. We are precisely talking about insurance protection. A good solution is undoubtedly the home under construction insurance at Warta.pl. Not everyone is aware of the fact that a single-family house may also be insured during construction. The insurance may cover fortuitous events and burglary. Construction materials stored on the construction site or in the house may also be insured. If they are destroyed, you can count on compensation. This means that you do not have to spend extra money to buy new materials. Once the house has reached the shell of the building, it can be covered for burglary. In this case, items such as cookers, radiators, window sills and built-in appliances will be covered, regardless of whether they have already been installed or not
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