5 Reasons to Build Now
- Fixed mortgage interest rates are at historic lows. That means it costs less for you to borrow money from the banks right now. When rates go back up, so will your monthly payments.
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- Construction loan interest rates are also at historic lows. Banks are currently borrowing money from the federal government at almost zero percent, which means your cost to borrow money is very inexpensive. Eventually, the federal government will raise interest rates to stave off inflation, so the cost of borrowing money from the bank will increase, which raises your monthly payments and reduces the amount of money you can borrow and spend.
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- The cost of building lots, labor and materials have stabilized. It seemed that the cost of lots and materials had gotten out of control, now costs have stabilized and in some cases decreased. Despite the current economic conditions, real estate has always proven to regain and hold its value because there is a finite amount of property available. As the economy improves the price of land, just like oil, will also go up.
> Learn about the factors that affect lot selection cost.
- Technology in the design and construction of new houses has improved. Along with the use of new green building materials, new building techniques have contributed to greater interior air quality, noise reduction, and energy efficiency which translate into greater comfort and huge utility cost savings.
> Learn about the initial steps for building a new home.
- The Home Buyer Tax Credits Have Expired. However, service members who were on official extended duty outside of the United States for at least 90 days between Jan.1, 2009 and May 1, 2010, may qualify for a one-year extension.
To Get Started, call Highlander Construction & Development
today at 540-382-0824 or send us your request in the sidebar.
"Why Build Now"
New River Valley Magazine – March/April, 2010: James Oliver from Highlander Construction & Development explains why now is a great time to build a home.
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Read our recent Roanoke Times story:
"A Perfect Storm of Building Opportunities"
The Roanoke Times – February 21, 2010: James Oliver of Highlander Construction builds homes such as his one in High Meadows. Oliver said a "perfect storm" of conditions – lot availability, low construction loan interest rates and competitive labor and materials pricing – makes now the best time to build a house.