Monday 22 April 2013

Two Reasons Its a Great Time to Build a New Home

Posted by at 3:19 PM

If you are thinking about building a new home you're onthe right track. Motgage rates are still historically low and existing home prices are rising. That combination is powerful when it comes to deciding when to build. The question doesn't seem to be if rates are going to rise the question seems to be when and how fast.

The lower the mortgage rate the less your monthy payments and over time the lower the total cost of your home so building during times of low mortgage rates will save you money over the life of your loan. In addition, acording to the Wall Street Journal the median price of homes sold in March was $184,300, up 12% from a year earlier. The rise of exising home prices is making it easier for people to sell their existing homes. The number of homes listed for sale grew for the second straight month, indicating that homeowners have started to feel more comfortable that they can sell their properties as demand grows and prices recover. The inventory of previously owned homes listed for sale at the end of March increased 1.6% from February to 1.93 million.

Between low mortgage rates and rising existing home prices it may make sense to build now instead of waiting. for a list of Wisconsin Homes builders who can help you with the design process and provide price quotes please vistit our builder list here: Builder Lookup