There are some who would argue that the opportunity to build a new home has come and gone. After all, the economy is improving and housing prices are rising. This may not be entirely true.
If you look at the facts, 30-year fixed rate mortgages are as low as 3.5 percent (this time last year, rates were at 4.75 percent or higher). Additionally, home building material prices such as lumber and drywall, have also decreased within the past year, making overhead less costly. Couple those savings with the low mortgage rates and many families are realizing their dream of building a home is not only attainable, but pretty darned attractive.
It just so happens that land prices are also at all-time lows, and many builders have lowered their profit margins in order to remain competitive. Many offer more builder incentives, including upgraded options as standard features, and are offering more energy efficient products as standard.
The truth about construction today is that you can buy land for less, builders are giving you more for your money, and interest rates are at historic lows. Consumers are in a unique position to take advantage of lower material prices, competitive subcontractor bids, and even increased equity when the home is finished.
Looking to the future, they understand that there is only so much developed land, that interest rates will rise and that the cost of building and land will go back up. The truth is there’s no better time than NOW to build the home of your dreams.
Let Barker All Phase Construction help you realize the home or business of your dreams. Based in Lockhart, we provide turnkey construction services to the people of Lockhart, Gonzales, San Marcos and New Braunfels, Texas. We handle all of the details – from land improvements and design to construction and finish out – so you don’t have to. Barker All Phase Construction has you covered from the ground up.