Have you been wondering if now is a great time to build a new home? It is. Simply put, interest rates are still at historic lows, however, with the economy picking up steam interest rates are ripe to rise again this year. Inventories of used homes are at all time lows – which means finding the right home in the right location is going to be difficult. If you do find one, you’re probably find yourself in a bidding war. Now is a great time to build a new home, but also a great time to build the home of your dreams.
But isn’t a Building a New House Expensive?
It can be. It really depends on what kind of home you want to build, how organized you are during the process (change orders can increase the cost of building a new home considerably so you want to budget appropriately) among other considerations. Building a new home might cost more upfront, but you’re not going to have the maintenance issues on the other end.
When you buy a used home you also buy used appliances, used mechanicals like your HVAC system, used roof, used foundation, etc. All of these things will need replacing at one time or another. With a new home you get a warranty and can be assured that none of those things will need replacing for quite some time.
Building a New Home Takes a Long Time
Not really. The average time it takes to build a home is about 6 months. In this current housing market you could easily spend 6 months looking for the right home in the right location and in your price range. Still, if you don’t want to wait that long many builders have spec homes available. These are new homes in new communities that are move-in ready. You can see the available Regency Homes here.
If you’ve ever wanted to build your dream home, there isn’t a better time than now to start planning. Talk to one of our building experts to learn all you need to know about building your new home in Omaha.
