new home construction: The Only Way You Can Predict the Future is to Build It!
- 02/15/23 04:48 AM
“The only way you can predict the future is to build it.”, is a quote by Alan Kay, best known for his pioneering work on object-oriented programming and windowing graphical user interface (GUI) design. To extend his thought, the only way to build the future is by investing in the present. That’s where we find ourselves today with offsite construction. Offsite modular construction is the modern method of construction that is the way homes will be built going forward. The only thing that the typical American consumer buys today that isn’t built in a factory is their home. You have to … (8 comments)
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new home construction: I'm Pretty Sure I Can Afford It. Can't I?
- 01/31/23 07:23 AM
Today’s interest rates have many wondering, “What can I actually afford to pay for my new home?” The good news is, if you could qualify for a home loan before the interest rates increased, then you can probably still qualify today. However, you just may not qualify for as much of a home. Most homebuyers only build one to three new homes in their entire life. Lending requirements for building a home are different than for buying an existing home. It is all based on risk. A lender takes more risk with a loan used to build a home than to … (9 comments)
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new home construction: Modules and Panels and Components, Oh My!
- 01/23/23 05:17 AM
Building technology is changing, but it is only changing incrementally. In the U.S., builders have used what is called light-frame wood construction as the primary method of building homes since the 1830s. Light-frame wood construction is a method of construction using many small and closely spaced members that can be assembled by nailing. These members are typically dimensional lumber that is bundled in stacks. These stacks are then dropped off outdoors at the homesite and each 2×4, 2×6, 2×8, or 2×10 is then pulled from the stack and individually cut outside and nailed together with other boards… in the mud, sun, … (2 comments)
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new home construction: Home Mortgage Options for 2023: Gimmicks vs. Good Advice
- 01/03/23 10:38 AM
In November of 2012, mortgage rates dropped to a record low of 3.35%. Before that time, mortgage rates had NEVER been lower. For some perspective, the monthly payment for a $100,000 loan at the historical peak rate of 18.45% in 1981 was $1,544, compared to $441 at the much lower rate of 3.35% in 2012. For the rest of the decade, mortgage rates stayed in the 3.45% to 4.87% range. By December 2020, at the peak of COVID, the 30-year mortgage rate fell to a new historical low of 2.68%. Rates spent most of 2021 between 2.70% and 3.10%, allowing homebuyers … (2 comments)
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new home construction: Why is a HERS Score Important to You?
- 06/21/21 04:29 AM
A HERS RATING CAN SAY A LOT ABOUT A HOUSEThe HERS Index or, the Home Energy Rating System is simply an analysis of a home’s energy efficiency per the HERS Index. This index is the nationally recognized scoring system for measuring a home’s energy performance. Many cities and some states either require or will be requiring that the test to determine a HERS Index Score be completed on a newly constructed home. In many cases, there are certain certification programs that require a specific HERS Score to be attained to meet a specified certification level. However, most states and cities don’t have … (3 comments)
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new home construction: Low Home Inventories Turn Many to Home Construction
- 03/15/21 04:15 AM
Existing home inventories are at an all-time low. There are very few good houses on the market for sale. If a good home finds its way to the market, then there is a bidding war for it driving the price upward for the eventual winner. And this story is repeated everywhere across the country. This is driving many people to look at new construction. But even new home construction can’t keep up with demand. Homebuilders and developers are burning their candles at both ends just to try and keep up.
Now let’s add in record-breaking lumber prices, and the ever-increasing prices, and … (2 comments)
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new home construction: Building to a Label
- 03/01/21 04:05 AM
Labels are just another way to say a standard. There is information overload for homebuyers in today’s marketplace – smart homes, construction standards, appliances, color selections, building materials, etc. When you build a home, there is a lot coming at you and many decisions to be made. How do you make sense of it? Most people care about how their home will look, how comfortable it will be to live in, is the home safe, and how much it will cost to live in. And then there is its location.
There are many labels out there that try to bring sense to … (3 comments)
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new home construction: HIGHER is the 2021 Word for Housing
- 02/22/21 03:32 AM
Housing is BOOMING in the U.S. HIGHER home prices, LONGER delivery timeframes, and GROWING interest rates are coming for 2021! While the economy still has a question mark on it, the home buyer’s confidence is doing well and growing. But, according to the National Association of Realtors, there is a housing shortage. Every year, as a country, we still aren’t building enough homes to cover the need of our growing population. Demand exceeds supply. Skyrocketing material costs, COVID-related supply chain disruptions, labor rates, and gas/oil prices are in the news, and all are impacting the affordability of your new home. Modular construction is the … (3 comments)
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new home construction: Compound Interest - Is it Your Best Friend or Your Worst Enemy?
- 10/26/20 03:46 AM
“’Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.”
-Albert Einstein
Interest is simply the cost of borrowing money. If you finance your home, you are going to be paying it. It is going to be expressed as a percentage. Because of the Federal Truth in Lending Act, lenders are also required to provide you with something called an APR. It is the Annual Percentage Rate, and it is also expressed as a percentage, and it is usually higher than the loan interest rate. That is because it attempts to include other charges … (3 comments)
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new home construction: Now is a Great Time to Build a Home - Despite Lumber Price Increases
- 09/08/20 04:54 AM
In the last six months, lumber prices have drastically increased. By drastically, we are talking by more the double the price they were at in March. This has driven the price of a house up sharply as we approach the end of the year. But we have also seen, historically, the lowest interest rates for a home mortgage. We are talking near record lows for a home mortgage. Most home buyers take out a 30-year loan to finance their home. So now we have what is called a quandary (i.e., a state of perplexity or uncertainty over what to do in … (3 comments)
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new home construction: Aim Small... Miss Small...
- 04/27/20 04:24 AM
“Aim Small… Miss Small...” While some might think that was just a line from the Mel Gibson movie The Patriot, it was actually the advice given to both Mel Gibson and Heath Ledger by the film’s technical advisor when teaching them how you aim a muzzle-loading rifle. If you aim at the man and miss, you miss the man, while if you aim for a button on the man’s uniform, you still hit the man. This trick works well for all forms of target practice. It’s also great advice when designing and planning to build a home using modular construction.
Building … (1 comments)
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new home construction: The Top 7 Reasons Your Mortgage Application Could be Denied
- 03/23/20 05:25 AM
If you are building a home and need a mortgage, the first step in the process is to talk with a lender and get qualified for a mortgage. With that information, you will know your budget and are ready to start planning for your new home. But for some, the lender may give them some bad news. They don’t qualify for a mortgage and their dreams of building are dashed. Here are the top 7 reasons your mortgage request could be denied.
REASON #1 – DEBT-TO-INCOME RATIO IS TOO HIGHIn a report from the National Association of Realtors (NAR), the main reason … (2 comments)
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new home construction: Fighting the Confusion - Blame the Frame
- 02/11/20 05:52 AM
Today, more than ever before, we need well-designed, safe, and affordable housing. We can’t build homes fast enough to meet the current need for housing. The off-site construction industry is growing rapidly across the U.S. and in fact, around the world. But this has led to misinformation and misunderstanding. Some of this can be attributed to the fact that the industry is evolving quickly and misunderstandings can occur. In some cases, the cause for the misinformation is intentional. The manufactured home industry (NOT MODULAR) works to promote its (lower cost, lower quality) product and has created terms like CrossModtm, On-Frame Mod, … (1 comments)
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new home construction: Build More Custom Homes with Modular Construction
- 01/07/20 06:41 AM
Are you attending the International Builder Show in Las Vegas January 21st - 23rd? If so, come see one of my presentations!
Build More Custom Homes with Modular Construction
When? Tuesday, Jan. 21, 8:45 – 9:15am
Where? LVCC – Custom Building Central – North 257
During this presentation we’ll dispel the myths, mistruths and fake news that are preventing custom home builders from adopting modular construction. Hear from Ken Semler, a nationwide custom home builder that exclusively uses modular construction, about the design flexibility, customization and efficiency modular can offer your next custom home project. If hiring shortages, lack of available subcontractors and … (1 comments)
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new home construction: What's the Difference Between a Modular and Manufactured Home?
- 03/18/19 05:40 AM
Today, there is still much confusion. In fact, we fight it every day. The terms “modular home” and “manufactured home” are used interchangeably by many people today. Home buyers, as well as industry professionals such as Realtors, Home Inspectors, and even building code officials, don’t know the difference. As an industry, we haven’t done ourselves any favors. They both start with “m” so they are easily confused. While they are both factory built cousins, there are key differences that make them two completely different types of housing. Let’s compare the two.
WHAT IS A MANUFACTURED HOME? Manufactured homes are constructed with a permanent chassis designed … (0 comments)
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new home construction: Are We Approaching the Modular Tipping Point?
- 03/12/18 04:15 AM
TIP·PING POINTnoun
noun: tipping point; plural noun: tipping points
the point at which a series of small changes or incidents becomes significant enough to cause a larger, more important change.
Residential construction in the U.S. has changed. While getting skilled and trained labor in many industries is hard, getting it in the construction industry has gotten more difficult than ever with no end in sight. Material prices continue to go up. Taxes and tariffs are adding to the cost of construction. Updates to building codes are adding requirements which are adding even more mandatory costs to every home. And… we have a housing shortage in … (1 comments)
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new home construction: Get it Fast AND Right with Modular Construction
- 01/29/18 02:11 AM
One of the old sayings that applies to buying just about anything is that you can have it fast OR you can have it right, but you can’t have both. Using modular construction to build your new custom home turns that saying on its head. The whole premise behind modular construction is to take advantage of two main tenants of factory construction; to build quickly and to build correctly AND in addition, to do it consistently each and every time.
TURNING HOME CONSTRUCTION INTO A MANUFACTURING PROCESSThink about the current method of custom home construction. It is one of the only processes left … (1 comments)
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new home construction: Can I Build My New Home Before I Sell My Old Home?
- 01/20/17 08:01 AM
The Answer is, technically, Yes.
This question, “Can I Build My New Home Before I Sell My Old Home?” is typically asked when someone starts to think about building a new home. It is primarily driven by the desire not to have to move twice. After all, that means packing up everything, finding a rental home or apartment, unpacking enough to live for X amount of time, storing what you don’t have room for, and then doing it all again as your new home is completed and you move again. Just reading what you have to do is enough to exhaust most … (0 comments)
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new home construction: Interest Rates and the Presidential Election
- 11/18/16 05:44 AM
IT’S NOT JUST ABOUT WHO WONThis year’s election created numerous predictions of impact on interest rates depending on who won. In the post-election week, rates have jumped about .4%. Doesn’t sound like much, does it? While they are still at 3.97% nationwide (which is historically low), that jumps means an extra $42 a month in house payment for a $250,000 home loan with 20% down. This jump was probably more of a knee jerk reaction to the election and not based on any actual news or data. However, fluctuations in interest rates are possible. They have been artificially held down in … (1 comments)
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“The only way you can predict the future is to build it.”, is a quote by Alan Kay, best known for his pioneering work on object-oriented programming and windowing graphical user interface (GUI) design. To extend his thought, the only way to build the future is by investing in the present. That’s where we find ourselves today with offsite construction. Offsite modular construction is the modern method of construction that is the way homes will be built going forward. The only thing that the typical American consumer buys today that isn’t built in a factory is their home. You have to … (8 comments)
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