Are you tired of searching for the perfect house? It may not exist. Depending on the state of the market, the house you want may only exist in your mind. If this is the case, fear not, there is a solution: build baby, build. A growing number of home seekers have decided to skip the hassle of searching for a home and are partnering with professional builders to create custom design/build. Some people think that designing and building a house is expensive, but the truth is that this could be an affordable option with many advantages.
Customizable floor plans
Don’t waste your time or money trying to make an existing house the perfect home for you, build one instead. Companies have portfolios of homes that home hunters can sort through and that are highly customizable, from kitchen countertops to flooring.
More economical
One of the main ways that people save money through construction is by contributing labor. If you’re particularly handy, you can save a great deal of money by doing the work yourself. People also save by cutting out the middle man. Typically, when you build your own home, you pay vendors directly and drive down the margins. Taking control of the construction process and closely monitoring construction and material costs can save you money, as builders can inflate home costs to cover potential cost overruns.
good investment
Owning a home has proven time and time again that it is one of the best long-term investments a person can have. Owning a home can be an investment to revitalize or build a neighborhood. Additionally, homeowners find it easier to obtain lines of credit, as many creditors view home ownership as a sign of responsibility and a guarantee that they will make payments.
get more
Most homes being built now are an average of 700 square feet larger. This means that the houses built have larger rooms, kitchens and bathrooms. Plus, enhanced features, low maintenance fees and increased energy efficiency mean the design and construction gives you more home for less.
Spend less on materials
The Master Builders Association (MBA) reports a steady drop in lumber costs. In fact, material costs are the lowest in five years. This could translate to savings of up to 15 percent in material costs on a 2,500-square-foot home.
Excellent interest rates
The housing market is experiencing historically low interest rates. According to the MBA, between 1971 and 2001 there were only 13 months when interest rates were lower than they are now. This means that once you’ve saved money on materials, labor, energy and more, you can add a historically low interest rate once the house is complete.
If you are considering buying a home in the near future, building a home may be a more sound investment. With low interest rates, more homes for less, highly customizable plans, and great long-term investment potential, building your own home will not only give you the home of your dreams, it will save you a lot of money along the way.
