Each custom home is unique and special. We’ve put together a list of 6 Reasons You Should Build A New Custom Home NOW:
(1) Start Building Equity: Investing in a new custom home is a forced savings plan. Think of your mortgage payment as forced savings, where you are also building up the value of an asset (which is the equity in your home). Equity is the amount of your home that you own outright. Equity is valuable and allows you to: receive cash once you sell your home, borrow again it with a home equity line of credit or loan, and you can even use it towards a down payment on a future home purchase. There’s no better time than the present to start saving!
(2) It Is A Great Investment: Once you have determined that you are ready to become a new custom homeowner it is time to decide where you’d like to build your new investment. Over time the cost of your home’s value will increase, and you won’t have as many costs associated with repairing and renovating your home since you purchased a new custom home. Now is the best time to start investing. There’s no better time than the present to start investing!
(3) Interest Rates Are Low: Strike while the iron is hot…or while interest rates are low. There isn’t a more perfect time to pre-qualify to build a new custom home than when interest rates are low. The lower the interest rate, the less you will pay for your home loan! A home loan mortgage consultant or broker will be able to help you find the right type of loan for you and your new custom home build. It doesn’t hurt to do a little research to find out which types of financing options are available to you. There’s not better time than the present to lock in a low interest rate!
(4) Owning Typically Costs Less Than Renting: Often monthly rent payments are higher than monthly mortgage payments on the property where someone is renting. This means renters are helping property owners pay down their mortgages each month (and then some) when they are living at their properties. Renting tends to be more expensive. A one-time security deposits is typically required to be paid when renters sign leases. This is on top of monthly rent payments. Property owners can also earn interest on a rental property’s security deposit, which allows them to earn interest (if they invest it wisely). A security deposit is money you could have in your bank earning interest or being spent another way. There’s no better time than the present to spend less money!
(5) New Homes Are Low Maintenance: New custom homes require very few repairs or renovations for quite some time after they are built. New custom homes require less repairs and renovations than homes that have already been built (especially older fixer-uppers). While they can take some time to be built, new custom homes are inspected, and must pass all current state building code requirements. Older homes may not be up to code, which can cost the homeowner money in repairs/renovations that are required to be brought up to code. There’s no better time than the present to consider building a new custom home!
(6) Pride of Owning A Custom Home: Who wouldn’t want to own their very own custom dream home? Owning a custom home is a big accomplishment and it is something that a homeowner should be proud of. Plus, when you own a custom home you will be living in your very own home that you designed, visualized, and turned into your reality. Just like a real life fairy-tale come true…and everyone dreams about that fairy-tale happy ending! There’s not better time than the present to become a proud homeowner!
We hope you found our list of 6 Reasons You Should Build A New Custom Home Now informative. When you’re ready, Devonshire Custom Home’s is here to help you build your new custom home!
Learn more about our current available lots , available homes , and click below to schedule your free consultation.
We look forward to hearing from you!
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