To Build or Not to Build - by Dan Gile

As we approach another construction season many builders, developers and buyers will be asking themselves this question, and with inventory of new homes, town-homes and condos so low in Grand County, the answer for many will be to build. With a more stable economic forecast certainly we will see more custom home starts this year. We can also expect to see more multi-family construction. Although we may not see investors speculating on condo pre-sales I do expect to see individual buyers purchasing condominium and town-home pre-sales. This will be driven by the demand to buy something new and not nearly enough inventory to satisfy that demand. This demand should also spill over into the almost-new inventory for those not willing to wait for something to be completed. Many second home purchase plans were put on hold during the recession. Many of those plans will be dusted off and acted on this year. Is this the year for you to consider new construction?