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The Asheville Market


Rising costs:

According to an article in Asheville.com, “Inflation has increased the cost of building materials by 33% since the beginning of the pandemic.” Further, an analysis from the U.S. Census Bureau’s Building Permits Survey (2021 - the most recent data available) found that authorized units in Buncombe County have an average permit value of $247,573, compared to $218,791 per unit nationally. Click here to read the entire article.

Square foot costs:

There are many factors that go into determining the square foot cost of building a house including materials, labor, builder fees, size, location, design, finishes and selections. According to BuilderBuddy.com, most new homes in Asheville fall between $225 and $425 per square foot to build. But if the homeowner wants a custom-built home with high end features, selections, and a great view, the range can fall between $450 and $700 per heated square foot according to local builders. As you can see, the cost per square foot ranges dramatically and none of these estimates include land…which brings up the next point.


Because Asheville is situated in the mountains, there are inherent obstacles to building or even finding property! The popularity of Asheville as a place to live or have a second home along with the post-pandemic real estate boom swallowed up much of the available property within the city limits, consequently there are fewer affordable, buildable lots available in the areas that are most desirable. An alternative to living in the city is to go farther out but there can be other types of expenses associated with buying undeveloped land such as costs for setting up utilities, clearing and grading the property, making driveways, retaining walls, and other considerations.


Besides your budget, it all comes down to what your priorities are…to live in the city, close to shopping, restaurants, entertainment and the urban city vibe or to live outside the city and experience more privacy, long range mountain views, more land away from the hustle and bustle of the city. Whatever you choose for your home build or remodel, Black Locust Builders will be on top of your construction progress every step of the way to deliver a high end finished project.



 
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