New England Sees Rise in New Construction

New Home Being Built

The construction industry in New England may very well be experiencing a significant boost. There may have been a series of years where construction lagged, but this downward turn might very well be passing. Stats show that New England's real estate market just might see a lot of new commercial and residential construction begin in the near future.

A Good Year for Real Estate

There were quite a number of good signs for the real estate market in New England in 2013. For one, single and multi-family homes and condominiums sold quite well in all the New England states with one exception, Vermont. Every other state saw an increase in sales across the board in residential real estate.

When demand for homes and property increases, the comes a demand for new home construction. The reason for this is rather easy to understand. There are not enough homes for sale on the market to meet demand. So, the construction of new homes is required.

More People Flipping Houses

Interest in flipping homes may also contribute to an increase in new real estate construction in the New England area. People do buy home for investments as this is where they draw long term equity and net worth from. That said, not everyone who buys a home is looking to access the long term benefits from the acquisition.

House Being RemodeledBuying the homes and then selling them at a slight increase in value (and an equally slight increase in profit) within a few years is a common practice many entrepreneurs take part in. These entrepreneurs may have their sights set on buying newly constructed homes and this can only further increase the demand for new property.

Low Rates are Still Out There

Once factor fueling the rebound in the housing market in New England would be the better interest rates available on mortgages. Easier access to home loans and lower interest rates means people will want to buy homes.

For the real estate mogul building homes from the ground up or the flipper who wishes to buy a newly constructed home for a short term investment, the fact buyers can borrow money is a good sign. After all, if they are able to borrow funds they can then make a purchase. This means newly constructed homes in New England are going to move in the market.

In Addition to Commercial Construction People are also;

  • Building Decks and Patios
  • Adding garages and sheds to their property
  • Building on or adding additions to existing homes
  • Building second / vacation homes
  • Repairing or upgrading their existing home
  • Adding home offices or other rooms

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Photo credit: pnwra / Foter / Creative Commons Attribution 2.0 Generic (CC BY 2.0)

Photo credit: Brock Builders / Foter / Creative Commons Attribution 2.0 Generic (CC BY 2.0)

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Wallboard Supply Company is a third generation, family run business that has been serving New England's building needs since 1970. Bob Filion started the company with a commitment to provide quality drywall and finishing products with unmatched customer service. The company has grown over the years, expanding its' product range, but never wavering from its' core values.