The year 2020 has been about as unpredictable as the weather and the stock market. While some aspects of the past 10 months – like the COVID-19 pandemic – have brought a number of changes to the way we work and live, others, such as the historically low mortgage rates in Florida as well as the nation as a whole, have provided many individuals and families with an added advantage.
In addition to our “new normal” in the U.S., our country is readying itself for another presidential election – and as this approaches, many people are wondering how long these low rates will last, as well as whether or not the scarcity of home building (and other) materials will continue to be hard to come by.
Further, many areas of Florida in particular have seen an influx of buyers – in large part from the cooler northern states – who are seeking ways to continue with outdoor dining and other activities due to the Coronavirus.
With that in mind, is now a good time to build a new home in Florida?
Given the lack of housing inventory, the second and third quarters of 2020 have become a seller’s market. So, moving forward with building a new custom home may be a viable option for individuals and families to get what they want, without having to outbid numerous other potential purchasers.
In addition, as the shelter-in-place restrictions could continue for some time in the future, the building of a home could allow for more customization with floorplans – such as a home office and/or areas where virtual schooling can more easily take place.
If you’re considering building a new home in the Orlando or the surrounding Central Florida area, the first step is to discuss your needs and objectives with an experienced company who knows the location well.
At Rare Builders, we’ve been building quality, unique, custom homes throughout Central Florida since 2010. If you would like to see what we can do for you, feel free to contact us at (407) 401-7575, or send us an email at [email protected]. We look forward to hearing from you.