When it comes to the stock market and the real estate market – as well as the overall economy – there is really no such thing as predictable. Today, it is not at all unusual for the stock market to have 1,000 point daily swings in either direction. Likewise, the real estate market that was on fire the past couple of years is starting to make a descent.
Given that, along with higher mortgage rates than we have seen in more than a decade, is now a good time to move forward on building a new custom home? Or is it better to wait it out on the sidelines – at least for a little while longer?
Even with the higher cost of borrowing right now, there could still be several reasons why it makes sense to proceed with the building of your dream home in the near term.
First, nobody knows what will happen in the future – and if interest rates rise again going forward, it could make the “price of money” today seem like a great deal. In addition, if other potential new home builders are waiting it out, it leaves you with less competition. Given that, you might have a better chance of finding – and securing – the ideal lot and location for your new abode.
If you’re planning to build a new custom home in Orlando or the surrounding Central Florida area, <give us a call at <phone number> for more details on floorplans and designs, as well as timelines and costs. That way, you will have a much better idea of what to anticipate going forward.
You can also send us an email by using our contact form with any questions that you may have. We look forward to hearing from you and providing you with guidance on how to turn your ideal dream home into the real thing!