Coronavirus has turned the world upside down, and many of our lives have changed dramatically to adapt during this pandemic. We know there is a lot of uncertainty and you may be looking for guidance on how to proceed with building a home today. The good news is that there are some reasons to be hopeful about the home building industry. It’s included as an essential business. Which means we are still here to support your custom home and remodeling needs.
Let’s talk about what this pandemic means for home building in Nashville.
The Safer at Home Order in Nashville
The city of Nashville is currently in a Safer at Home order until April 24th, but that could be extended if the city feels it necessary. This limits activities to essential activities like going to the grocery store, pharmacy, or exercising. Read more about what you can and can’t do under the order here.
However, what this also means is essential work is permitted to continue during the Safer at Home order. Included in essential work is construction, which means that Donnelly Timmons can continue to build during the pandemic.
Past Pandemics & Homebuilding
Past pandemics have proven to be troubling for the housing market. This is mostly because homebuyers aren’t likely to buy homes when they can’t see them, but also because supplies can be delayed and the workforce can get sick.
Yet, the homebuilding market has also proven to be resilient in past pandemics because home value has not historically decreased. While much of the economy begins to recede, investors advise putting money into real estate because they consider it a safer investment during uncertain times.
Homebuilding During Coronavirus
Experts anticipated 2020 to bring a booming housing market. Many people want houses but supply is short. Unemployment was low and mortgage rates are still low making the perfect storm for a great market. While in-person homebuying inquiries have been low, online inquiries have sharply risen.
With coronavirus, people are realizing now more than ever how important it is to have a healthy home with high-quality indoor air. Wellness within the home has never been more significant. People are thinking about their kitchens and home offices specifically as they spend markedly more time in both spaces. Smart builders know that now is the time to plan and prepare for a demand in homebuilding when shutdown orders are lifted.
Anticipated Hindrances to Construction
Though building in Nashville will not stop through a Safer at Home order, the pandemic will still impact the building process. Supply chains will be disrupted and inventory will fluctuate. Inspections will be delayed, and as mentioned before, workers will get sick and not be able to work.
Trust in a Professional Builder that Cares About Your Health
Donnelly Timmons understands the uncertainty from the pandemic can cause clients to pause their home building plans. However, now is a great time to start planning for the future after coronavirus. We can build and renovate healthy, custom homes with great air quality that save you money.
To learn more and get a free consultation, call Donnelly Timmons at 615-456-7983 or fill out a contact form.