It’s been an eventful year for real estate (to say the least!) and homebuyers have been asking this question.
Hear why Ken Warlick, VP of construction of Harrison Homes, says now is the time to build your dream home.
Historic Low Interest Rates Offset Material Cost Increases
Lumber prices, which spiked dramatically earlier in the year, are finally leveling off which is great news. At the same time, material costs are rising due to demand and COVID. However, interest rates for mortgages are still at an all-time historic low, helping to offset the rise of material costs.
The Housing Shortage Will Continue
According to Freddie Mac, the U.S. housing market is 3.8 million single-family homes short of supply to meet buyer demand. The shortage of supply and increased buyer demand is currently helping to flame the fire for the real-estate market. Home builders simply cannot build fast enough to meet the pace of this demand and it will take years for this to correct itself. This directly impacts the amount of inventory available to potential home buyers, keeping the demand competitive for the foreseeable future.
To build homes requires land. Due to the high number of people looking to build or buy, land becomes more scarce, increasing value and creating higher purchase prices for buyers.
As the economy continues to rebound from COVID, interest rates will eventually rise and it will cost homebuyers more money to secure a mortgage. With home prices anticipated to remain on an upward trend, it will become more expensive to buy.
If your financials are in order and you’ve been thinking about pursuing a new home, it’s to your benefit to act sooner than later.
New Construction Homes by Harrison Homes Offer Little Maintenance
A new construction or custom home by Harrison Homes offers little to no maintenance in the first years. Our high caliber homes come backed by limited 1, 2, 10 year warranties, and are built with more efficient technologies that lower monthly energy bills. Harrison Homes treats every home we build like it’s one we are building for our family, and we stand by the quality of our homes.
Beautiful Home Design
A new construction home—especially a home by Harrison—is designed to modern day design standards and trends. Harrison Homes are timeless, and built with high quality materials. Our homes uphold premium design standards and finish selections. If you build a custom home with Harrison, then the home is designed to your specific tastes and lifestyle preferences. Why settle for a traditional resale home that may require renovations, cosmetic upgrades, appliance replacements, etc. when you can build a home that you truly want?
For a list of available new construction homes by Harrison, click here.
To schedule a consultation to build your dream custom home, contact us.