02/23/2021
Let's be honest, the housing market is in a strange place right now. Low mortgage rates are driving people to enter a market with a decreasing supply of available homes. For prospective home buyers seeking existing homes, it can be daunting. On the other hand, home builders are surging. People are turning to building their ideal home that better suits their family’s changing needs- and the process is turning out to be a lot less stressful.
Here are a few reasons why now is the time to ditch used-homes and instead build your new home:
The existing inventory is shrinking by the minute. What this means for home buyers – or people deciding between buying or building – is that they should expect to pay more for existing homes right now. Housing prices continue to rise as inventory shrinks.
But there’s another factor that makes building a home much more attractive right now… and that’s low mortgage rates enticing buyers to enter the market. More people are able to secure low-rate mortgage loans and enter the market, which further exacerbates the dwindling house inventory and skyrocketing home prices.
Builds Are Increasing Across the U.S. More Americans are working from home right now than ever. Some companies are transitioning their workers to the office in shifts, with people working just a few days a week in the office. Building your house allows you to create spaces that are perfectly suited to your needs, whether it’s a floor plan made for entertaining, a walk-out basement, or a quiet home office. Whatever you need, your newly built home can provide.
There are a lot of reasons to choose to build rather than buy a used-house right now. If you’re looking to make the switch to a new home, take the time to figure out what your family needs. Historically low-interest rates may help your dream of building a new home be more attainable. We work with outstanding, quality builders, in a wide range of price points. Contact our team if you're interested
