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Is It Worth The Cost Of Building A New Home?

For the past 3 years we have seen our Real Estate market in Cape Coral embark on a rapid and steady upswing. Inventory has decreased and the price gap of a new home vs. resale home is narrowing.

Key Indicators:

  • LOW INVENTORY- Cape Coral now has only 4 months of existing home inventory. When inventory decreases this drives the price of homes up.
  • REBUILD COST- During the bottom of our market (Dec 2010) the price gap for a new home versus existing homes was 50 to 60%, thus making it financially unfeasible to build a new home. The price differential is now 15 – 20%, making the advantages of a brand new home much more appealing.
  • LOOSER LENDING GUIDELINES- When inventory was high, very few lenders were issuing construction loans, and those lenders who were loaning had very stringent borrowing requirements, i.e. 50% down payment, extremely high FICO score, etc. Now there are numerous lenders willing to provide construction loans with more reasonable requirements and rates
  • INCREASE IN BUILDING PERMITS- Over the past several months Cape Coral had an average 40-45 new construction permits per month. This is a significant surge from the 10-12 permits just a few years ago. We expect the monthly permits to increase steadily until we achieve a well-balanced level, which we believe is around 150 permits per month.


Why Should I have Your Team Represent Me When Building A New Home?

Whenever you are considering an expensive real estate transaction you should always consult knowledgeable/specialized Realtor. We are here to represent you with the same professionalism and expertise as we would in any other waterfront transaction. We will look out for YOUR best interest:

  • Suggest the most desirable waterfront floor plans and amenities preferred in SWFL
  • Recommend upgrades that yield the most aesthetic appeal and highest resale value
  • Oversee building process when/if you are out of area, and send photos as well as comments pertaining to the progress of your new home.

We have devoted extensive time researching the most reputable/reliable builders in our area. As Tom describes it, we have found the best “Cluck for your buck” builders. Every builder has their own unique standard features in a home, and those upgrades for which there is an extra cost. Comparing and keeping up to date on so many builders could be considered a full time job in itself. Our team has a list of top notch builders for every price range.


Locate a nice lot in a good neighborhood.  Whenever we are searching for a well located, well priced lot we always utilize the Neighborhood Aerial Map (See Below). This map, which is used by only a small percentage of Realtors, enables buyers to quickly and easily determine the best located/priced lots in a specific area.

The lots highlighted in purple below are the lots we consider the best values in these areas

This is only an example as of 11/5/13

(We will create a specific aerial map for your desired area and price range)

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 Copyright 2014 Multiple Listing Service of Greater Fort Myers and the Beach, Inc.; All rights reserved. The data relating to real estate for sale on this web site is the copyrighted and proprietary database of the Multiple Listing Service of Greater Fort Myers and the Beach, Inc. The properties displayed may not be all of the properties in the MLS' database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Properties listed by Brokers other than are marked with BR logo and include the name of the listing Brokers. Information provided is thought to be reliable but is not guaranteed to be accurate; buyers are advised to verify facts before making the decision to purchase a property. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Information provided is for consumer\'s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This site will be monitored for \'scraping\' and any use of search facilities of data on the site other than by a consumer looking to purchase real estate, is prohibited. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.