Have you been considering building a brand new custom home but just aren’t sure if now is the right time? You may be surprised! Keep reading for three reasons why 2019 is a great time to build a custom home.
Lower Home Prices
Commodity prices began to fall towards the end of 2018 and are now below what prices were in 2017. In short, the cost of home building materials is much lower today than it was in previous years. That’s great news for both builders and homeowners! With lower commodity prices on materials like lumber, doors, and hardware, homes cost less to build and homeowners can get more bang for their buck.
Mortgage Interest Rates are Holding Steady
Recently, mortgage interest rates were expected to climb close to or above 5%. Instead of increasing, interest rates have actually held fairly steady over the last couple of months. In February, rates even fell slightly! As of February 27, 2019, the average interest rate for a 30-year fixed mortgage was as low as 4.14%. Borrowers also saw rates as low as 3.57% for a 15-year fixed mortgage and as low as 3.85% for a 5/1 ARM mortgage.
A Wide Variety of Homesites
If lower home prices and reasonable interest rates weren’t enough to convince you, this will! In the Omaha area, there is a much wider variety of homesites available than before. Finding the perfect homesite to build your dream home on is easier than ever with more neighborhoods and lots to choose from!
Need a place to start? Custom home packages in our family-friendly Grandview Ridge neighborhood start right at the $475,000 range and offer upscale living close to everything Omaha has to offer. Likewise, our Blue Sage Creek neighborhood offers privacy and idyllic creek views with home packages starting in the $600,000 range.
Ready to get started building your dream home? Contact TD Builders to learn more about the communities we build in and our available homesites.
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