This was post was inspired by a local Realtor and friend, Mark Pennington, who did a similar list for why you should list your home for sale in December. This is our top ten reasons to act now on your new home building project or remodeling/addition project.
Reason #10 to act now on your home building or remodeling/addition project. Interest rates WILL go higher and could go dramatically higher as the current rates are at historic lows and inflationary pressures are building in the money supply.
Reason #9 to act now on your home building or remodeling/addition project. Bankers won't let builders start any speculative homes so if you don't see something you like the only way you are going to get it is to start from scratch.
Reason #8 to act now on your home building or remodeling/addition project. Banks are under increased pressure to book loans OTHER than to builders/developers. This means making more loans to homeowners who want to remodel or build their own homes. The programs they can offer today due to the very low interest rates may not be available once rates start to rise.
Reason #7 to act now on your home building or remodeling/addition project. Over half of all builders and subcontractors have been forced out of business. The experienced ones who are left are the first to be hired back. So if you wait too long, then you may have to settle for less experienced builder/contractors building your home.
Reason #6 to act now on your home building or remodeling/addition project. The Texas Residential Construction Commission has been disbanded so there is no governing agency to oversee builders in Texas. Many builders who were barred from the industry and others who have little to no experience will be opening up shop once activity resumes in the industry. Buyer beware has never been more important than now.
Reason #5 to act now on your home building or remodeling/addition project. New federal regulations being proposed by the President and Congress will add even more regulatory costs to construction projects if passed. Which means you will get more for your money now.
Reason #4 to act now on your home building or remodeling/addition project. Building from scratch takes time to work on plans, make selections, secure permits, etc... With fewer proven builders in the market and more detailed loan applications, the delays may make it hard for your family to get the current low interest rates.
Reason #3 to act now on your home building or remodeling/addition project. The best building sites will go quickly and there are very few new subdividions in the works. Acting quickly can help prevent you from having to "settle" on a community that was not one of your top choices.
Reason #2 to act now on your home building or remodeling/addition project. Current construction techniques can save you on your utility bills while giving you space for your family that they have been clamoring for. You know your wife wants to move forward and if momma is not happy, you won't be happy.
Reason #1 to act now on your home building or remodeling/addition project. You have to start at some point so why are you waiting for higher interest rates, higher costs, and fewer choice lots to chose from? Procrastination is not going to get you a new home or more living space. Procrastination is not going to give you the features you have been dreaming of. Action will! Calling a trusted builder tonight and start your journey to your new home.
Thank You
If you have a question on the steps to move forward in the process, please feel free to email your questions to our offices. Garabedian Properties is a full service building firm serving the Dallas/Fort Worth Metroplex. We offer new luxury homes, premium remodels, green building/remodeling, home care services, storm/roof repairs and commercial building contracting.
Please feel free to leave your comments, drop us an email at mike@garabedianproperties.com or call our office at 817-748-2669 817-748-2669. I also encourage you to visit http://www.garabedianproperties.com to see movies on our homes, hundreds of pictures and information on how we can be of service to your family or clients. Or become a fan on Facebook.
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