Building your custom home is a huge decision and investment, influenced by many factors. In today’s ever-changing real estate market, timing is everything when making your dream home a reality while keeping costs in check. Here are five compelling reasons why NOW is the perfect time to start your custom home journey.
1. Economic Factors Driving Costs
The influx of cash into our economy drives up materials and labor costs. With demand soaring and supply chains facing hiccups, construction costs are rising.
By building now, you can lock in today’s prices for materials and labor, avoiding potential hikes down the road. This keeps your budget predictable and ensures you get the best value for your investment.
2. Population Shifts to Florida
Florida is seeing a steady stream of new residents from other states, attracted by its tax benefits, vibrant communities, and year-round sunshine. This population boom is increasing the demand for housing, putting pressure on existing homes and available land.
Building your custom home now means securing a prime location before land prices increase, ensuring you benefit from the long-term value.
3. Favorable Interest Rate Environment
Interest rates for mortgages and construction loans are favorable when looking over the past 30 years, making financing your custom home project more affordable. Lower rates mean reduced long-term financing costs, saving you money over the life of your loan. With rates potentially changing in the future, starting your build now lets you take advantage of these optimal conditions. And if rates trend even lower, there is always the opportunity to refinance your home.
4. Limited Availability of Land
Finding suitable land for your custom home is becoming more challenging, especially in desirable areas—urban growth and zoning restrictions limit available building sites, driving up land prices. Securing your land allows you to design and build exactly what you want, safeguarding against future land scarcity and competition.
5. Customization and Personalization Opportunities
Building a custom home allows you to create a space that reflects your style, preferences, and needs. From the architectural design to interior finishes and energy-efficient features, you can tailor everything to your liking.
Starting your build now means incorporating the latest trends in home design and technology, creating a beautiful and functional living space that stands the test of time.
At Westmont, we truly believe…
Now is the best time to start building your custom home. By taking advantage of favorable economic conditions, population trends, low interest rates, and securing desirable land, you’re setting yourself up for long-term happiness and financial stability.
Whether you dream of a modern retreat or a timeless estate, taking action now ensures your vision becomes a reality. Contact us today to see how we can help make your custom home dreams come true.
