Housing Inventory Hits Lowest Point in 14 Years; Is it Time to Build Your Own Home?

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The inventory of existing homes for sale is extremely low. Purchasers are realizing that building new may be their only hope to get what they want, reports ArmchairBuilder.com.

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You can build your own home and save 20% or more by eliminating the professional builder mark-up and overhead.

"You can actually build your own home and get exactly what you want, where you want," says Michael Luckado co-founder of ArmchairBuilder.com. The thought of taking on such a large project is enough to keep most people up at night. But consider this: The raw unsold inventory of homes is currently at its lowest level since 1999, according to the National Association of Realtors. This really limits the choices for today’s anxious home buyer.

Owner builders around the country are taking on the general contractor role for their project to get the exact home of their dreams while saving some cash. According to Michael, "One of the biggest reasons to build your own home is to save money. You can save 20% or more by eliminating the professional builder mark-up and overhead." And as long as the owner stays in the home for two years, the savings realized are typically tax free.

But can anyone go out and build a house? According to Michael a seventeen year building veteran, "You don't need a license to build your own home. Much like a real estate license, the builder's license is there to protect consumers so there's nothing stopping you from selling or building on your own."

So what are some of the other advantages of taking on the general contractor role to build your own home? Consumers acting as their own general contractor can "bargain shop" for materials, while pro builders are typically tied into supplier contracts. And then there are the DIY'ers out there that are choosing to do some of the physical work themselves, saving even more money. "By doing just a few of the non-skilled labor activities, several thousand dollars can be saved on the average American home", says Michael.

There were 47k owner built homes started in 2011 according to the U.S. Census Bureau. With the market conditions being what they are today and the online resources available to help the owner builder, more and more prospective home buyers may soon be joining that group.

Having built, remodeled and repaired thousands of homes in his career, professional builder Michael Luckado created ArmchairBuilder.com to share his secrets for saving money while building a quality home. Videos, articles and downloadable resources are now available to those who want to create the home of their dreams while saving big money. Armchair Builder donates a portion of all product sales to Habitat for Humanity

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