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K. Knight Contracting - Is now the time to invest in a custom built home?

It's worth considering the time and money advantages of a custom build

The cost of buying a residential home continues to increase year over year. The Ontario Housing Market in 2022, increased by 25.6% from 2021 to an average of $998,629. More and more demand for homes in addition to record-breaking inflation suggests that there are no signs of slowing down. Choosing to learn more about the building process of a custom home could mean a more cost-effective home in a shorter amount of time. 

Homebuyers are sacrificing their dream homes

With the housing market as competitive as it is, desperate home buyers may put an offer on a residential home that doesn’t fit their needs or with less pressure to buy may have moved on to another property.

“Buyers are giving up on finding their dream home because their need to find a place to live has come first. The competition over every single listing often means ignoring factors that would have been deal-breakers, waiving inspections, and paying thousands of dollars above the listing price,” says Tara Kuznecov, General Manager at K. Knight Contracting Ltd.

How much does building a custom home cost?

There’s a common premise that building a custom home is more expensive than buying an existing home. With housing costs where they are now, building a modest custom home could lead to a lower overall cost. 

“The cost of building a custom home varies greatly based on the individual’s choice of finishes,” says Kuznecov, “We are often asked if we will supply a square foot price, for many looking for a general idea of cost this is feasible but we would much rather meet with the customer and work to provide them with a quote that best reflects how they wish to see their home build.” 

The benefit of investing in a custom build means that every fixture, window, and wall has been built according to the home owner’s specific needs and wants. Each component of a build is also brand new and sourced local first, putting the owner at an advantage when repairs and upgrades can cost an existing home buyer more money in the future. 

“You might spend the next five years waiting to have your offer accepted for a property or for the housing market to return to pre-pandemic prices,” says Kuznecov, “even with current shortages of building materials possibly extending timelines, the average build time is only 4 to 6 months depending on the size and complexity.”

Over 20 years of custom build dedication

K. Knight Contracting is an Orillia-based general contracting company established in 1989 that assists in the building of residential, commercial, and industrial construction projects. Depending on the rigour of a project, K. Knight Constructing has partnered with multiple local tradespeople, such as designers and municipal services, to assist in the overall completion of a custom build.

To get started on your dream home, start by contacting them here.