Is building a home much more convenient than buying one in the current economic situation? Well, let’s find out! Thanks to the pandemic and the fallout inflation that followed, rent prices are on the rise this year.
Above all, the fear that a recession might happen due to record-high inflation is still at the tip of everyone’s tongue. And that translates to high gas, food, and housing prices- to mention a few! So, to ease the burden of economic pressure, building a house is becoming a more lucrative option than ever. But is it a better option?
Why Now Is a Good Time to Build a House
- Subcontractor Availability
Most people don’t want to go through the process of building a home. It takes time and patience; let’s face it, not all of us are willing to wait. But with the right home builders in your corner, this process is relatively smooth, with manageable ups and downs. In fact, all you have to do is give the homebuilders your specification, and they’ll handle the rest.
Granted, this process isn’t immediate, so you’ll have to wait a little while before moving into your new home. And that’s why most people buy ready-made houses that don’t always reflect your vision. On the other hand, since buying a house is the trend, subcontractors are available to work on building your home.
- Supply Chain Availability
Supplies are another hurdle that most new homebuilders have to face. Typically, it’s impossible to get supplies on time when working on a new home, which delays the building process. However, that’s no longer the case. Since most people aren’t building houses, it’s now relatively easier to get supplies on time.
- Lower Rates Next Year
We all know the rates in the market are sky-high. That said, most people assume right now is the worst time to build your house, but that’s not true. If you start working on your home, you will get used to the current rates. However, these rates are expected to drop by next year, so your mortgage will be lower than usual.
So, should I build my house this year?
The straight-up answer is: YES! And if you are still on the fence about building or buying a home, we get it! Buying a house is, without a doubt, a big decision since it will affect your and your family’s future.
However, all factors considered now is the perfect time to build your future home. The most crucial part of it, especially in the front range, is working with the right construction service company.
Nelson & Son Construction Service Inc. has over 30 years of experience in this industry. Their reputable brand has thousands of reviews from previous customers who attest to their outstanding experience and quality results. So, if you need an expert company in the field willing to talk to you about this big decision, give us a call today!