3 Reasons Why Now is a Great Time Build a New Home

Since the housing bubble burst a few years ago, many may wonder if buying real estate is a sound investment. The housing market remains steady, so not only is now a great time to buy, it’s a great time to build a new house, as well.

Why is the housing market ripe for building a home? Here are 3 reasons that you might consider if you have thought of buying or building a home in the last several months:

Reason #1: Right Now You Can Get the Best Interest Rates in History

Although interest rates vary from loaning institution to loaning institution, one thing is certain: it will be a low rate. With the state of the economy in the last few months, people have been nervous to invest. Banks and other lenders have responded with lower rates. They are practically begging you to borrow money from them for an incredibly low rate.

Rates are so low you can save $100- to $200 per month on a new mortgage. What you do with that extra money is up to you. Maybe you want to build a bigger and better house than you could afford a few months ago. Or, perhaps pocketing an extra couple hundred dollars every month that you can use elsewhere in your budget is more appealing. Whatever your wishes are, you will save money if you choose to build today.

Reason #2: Large Availability of Lots

In the Omaha area today, there are about 17,000 lots available. This is such a large amount that it will take several years for them all to be purchased for a new home.

The real question becomes, “Where do you want to live?” The massive availability of lots right now makes so many great neighborhoods and communities in the Omaha area a possible new home location.

With the influx of so many plots of land available there are more willing and able people looking to build a home. This leads to great pricing from developers all that want you to live in their neighborhoods.

Reason #3: Construction Costs Have Stayed Low

After the economic slowdown over the previous year, construction costs have fluctuated. Some builders are offering an incredible value to help build your dream home.

Here’s great news: Those prices are still rock bottom low. You can have much more house built for the same money as a smaller home would be built just months ago. Now is the time to snatch up these low construction prices.

Here’s the bad news: We don’t know how long those prices will stay this low. That means in the very near future, constructions costs could rise dramatically. As a result, anyone considering building a home needs to act quickly to make sure they secure the current low building costs.

These are 3 great reasons if you have even considered building a home, you should act now. It’s not often that you will see record breaking low interest rates, a large availability of land, and low constructions costs all at the same time. If there has ever been a time to build a new home in the Omaha area, it is now!