If you are waiting for the economy to rebound you might be missing one of the best opportunities to build your custom dream home. Right now is one of the best markets to not only build your new home but also sell your current home.
Interest rates continue to trend downward. Lenders are looking for solid people to lend money to, who have high credit scores and a strong equity value in their current home. Builders are slow and will be willing to work with you on obtaining the best possible price for the features you want in your new custom home. Subcontractors need to keep staff busy and are bidding very competitively to obtain business in this tough economy.
Building now may give you the perfect opportunity to apply the science of energy efficient homes into your dream home and therefore allow you to have lower heating and cooling costs into the future. Building materials will not be going down; the cost of transporting them will not be going down. Take advantage of the current pricing on all the components that make up a new home.
The keys are working with a builder you trust. Start by finding an experienced realtor who has extensive knowledge of the home building process. They will know the reputable builders in your area. Working with a realtor will allow you to not only find lots builders might be currently holding but also allow you to find neighborhoods that are a good investment.
Your real estate agent will gain you access to homes this builder has built and will help you sort through the extensive information each builder will have. Interview at least three builders who can build in the neighborhoods you would like to focus on. Decide which builder seems to be a good fit both from a personality standpoint and experience standpoint.
Your realtor can help you examine each builder’s warranty, their standard specifications and definitely interview at least two people who have built with this builder. You will be spending a lot of time with your builder make sure that you like and respect the way he does business.
Despite the downturn in the economy, building now will mean you are not rushed through the process and time and care are taken with each phase of building. If you have always dreamed of a custom home now is the time to act.
