Have you been wondering if you should build your dream home? Based on current interest rates and recent national stats, the answer to that question may be a huge YES! Of course, you can’t make the total decision based on market but if you have your credit in order and the funds to make it happen, you might want to explore all your options. Mortgage rates are at an all time low so that may also help you in your decision making process. Remember, waiting and waiting for the exact right time may cause you to miss out on the exact right time!    

Factors to Consider:

1)  Are you in a financial position to build?  Keep in mind that costs typically go well beyond the initial estimate from a builder as you add your personal choices re: floors, tiles, carpets, lighting, etc.

2) Are you prepared for the process…emotional and financial of building a home? You might want to talk with people you know who have gone thru the building process to gauge your own ability to do so without “going crazy”. An architect I knew once said, “Building a home will either draw you closer or tear you apart”. Seems extreme but often true.

3) Have you done your own homework on the kind of home you want…can afford….the location you want to build in and the cost of living there? If not, this is a very important FIRST step to building.

4) It’s important to research your architect and/or builder. Don’t just contact referrals they give you to talk with…of course those will be their ‘happy’ customers. Search out homes that were built by them and get honest and thorough feedback. Also check with the city you’re building in to see how many if any complaints or compliments they’ve had re: builders in town.

The point is, just because the interest rates are low does not mean it’s the right time for you to build but it could be. Be diligent. Be thorough. Be honest with yourself about your goals and finances. Then decide with confidence so you can move forward with joy about what’s to come. That joy will override all the challenges!