Updated: May 3, 2022
Should I start to build right now, or wait?
With a hot real estate market, higher material costs and supply chain constraints, a lot of people are asking if they should start to build now or wait. If you are ready to build, now is a great time to get started on building your custom home or home renovation.
Pre-Construction Planning Takes Time
This is the perfect time to spend perfecting your home design and pre-planning your project. Building or renovating a home requires detailed plans which can take three-to-six months to perfect. A detailed plan is imperative for a seamless construction process. Ensuring that every detail is to your liking and that the final home design fits within your budget will save time, money, and frustration.
Mortgage Rates Are Still Low
Mortgage rates are still holding low, but rates are predicted to continue to rise throughout the year. With a construction-to-perm loan, you can lock in today’s great rates before construction begins and possibly lower the rate if a lower interest rate becomes available before closing.
Supply Constraints Will Be Decreasing
Supply constraints are predicted to decline in the second half of the year. Planning your project in advance will help reduce materials delays and shortages. While your build is underway, your home value will be increasing at a faster rate than the supply chain.
If you are ready to build a custom home or start a home renovation, the professionals at Ramos Construction will make the entire design build process easy and seamless. Contact us to schedule your free consultation.