Shipping Container Homes?

Welcome to THE REAL UPDATE - every Monday morning we bring you the latest real estate news. We talk about developments, listings, sales, renovations, debt, architecture, & businesses right here in Westchester County.

Listing of the Week:

1 Westminster Dr, White Plains, NY 10604

This 4 bed, 3 bath turn-key Tudor home is located in a desirable White Plains neighborhood. The home includes access to a private beach and is situated on a corner lot. Hardwood floors throughout, a recently renovated ensuite bathroom, and a short drive to downtown shopping and White Plains train station. Check out this listing here. 

Development Going Up:

Underhill Farms Redevelopment Project - 370 Underhill Ave, Yorktown, NY 10598

A Mixed-Use development project was recently approved by the Board of Yorktown- 50 condiminium townhomes, 30 condominium flats, & 85 apartments. The plans include the preservation of the previous "Soundview Prep" High School and will devleop 14 acres. The condos will offer garage parking. There will also be retail & office space for lease. Union Contracting Corp. of Cold Spring, NY is the developer.

Restaurant of the Week:

Purdy’s Farmer & the Fish - 100 Titicus Rd, North Salem, NY 10560

Fresh produce from their on-site farm & fresh fish from their exclusive supplier, Down East Seafood, makes this restaurant agruably the top seafood restaurant in Westechester. Check out their menu here.

Westchester County Market Report: August 2023

• 37 Days on Market- Average Time on Market

• $652,262 Median Sale Price

• 889 Homes Sold

• 55.6% Sold Above Asking Price

• +10% Avg. Sale Price vs. August 2022

SPOTLIGHT: Are Shipping Container Homes an Option?

In the past few years you have likely seen or heard about shipping containers being welded together to form livable residences. You probably saw the idea as something unique but never something realizable for your own residence. Shipping container homes are not as janky as you think - just like any other home the inside walls need to be insulated and paneled or drywalled. This leaves the metal structure exposed only on the outside. These container homes can come pre-fabricated which set you up for predictable building costs & a shorter construction time.

Choosing to build a shipping container home is mostly an economical decision. The majority of savings comes with the metal container allowing you to bypass the expensive step of wood-framing out a new house. However, the addition of wiring, piping, plumbing, electrical, and windows does bring more challenges than a conventional build. The biggest challenge for these homes is getting approval and permits from your local government. Container homes are considered modular homes- which means they must meet the same traditional building codes as a conventional home.

When you get into the numbers, a lot of the costs remain the same- you still need to buy the land, and include costs for the foundation, wiring, plumbing, and permits. The containers themselves go anywhere from $5,000-$10,000. Estimates for completing a multi-container build range anywhere from $80,000-$250,000 depending on the size and bedroom count of the home. My conclusion is that these homes should not be overlooked for first-time buyers. If you are a buyer who is out-priced by the 2 bed/2 bath home listed for $400,000, it may be worth your time to look into buying land and having one of these homes set up for you. A conservative estimate for resale value of a container home is $200 per square foot. You can dig into the the specifics of all the numbers here.

Written By: Thomas Cane

thomascanerealty.com

beehiiv.com/therealupdate