If you have been considering building a new custom home in Florida, you may be facing some difficult questions as to whether or not now would be the best time to do so. For example, just some of the ideas that you may be mulling over can include the following:
- Will I have to pay a higher or lower rate of mortgage interest if I wait?
- Are home values moving up or down in the current economic environment?
- How do I find the right builder for the specific home style and amenities that I want?
Overall, while it may seem like the housing market in Florida has been all over the board lately, the reality is that, according to the Sun Sentinel, home prices in the state are anticipated to continue moving higher. At least for the time being.
In addition, it is likely that the Fed will be increasing interest rates soon – and, if that occurs, banks and other lenders will typically reflect those rate increases on borrowers as versus on savings account holders and investors in other vehicles such as CDs.
With that in mind, right now could just be the ideal time for you to move forward with the building of a custom home – otherwise, you could end up having to pay a higher mortgage payment for the very same house next year.
The decision to build a custom home can oftentimes entail an even longer list of questions. So, talking directly with a builder in this niche can allow you to move forward with more certainty. We specialize in the creation of one-of-a-kind homes in Orlando and the Central Florida area. If you have questions or concerns about how the custom home building process works, feel free to Contact Us today.