Solving the Housing Shortage
There is only one way out of the housing shortage.... Build, baby, build! There are a lot of factors that influence the housing market but at the end of the day nothing has more impact than the simple fact there aren’t enough houses to support the population in our area. The only way to fix this problem is to build more houses and all the builders we know are full steam ahead for the next 10 years because they know what the numbers are. There just isn’t any other way around it. We need to build more homes.
The top 3 reasons to build a home right now are 1) you’re guaranteed to have a home within a year compared to people spending a year or more losing bidding wars and ending up frustrated, tired, and without a home 2) you can get exactly what you want 3) the price is about the same, sometimes less, compared to a resale.
The biggest mistake I see is home buyers going directly to a builder without being represented by a broker. Having a broker represent you with a new construction home doesn’t change the price. In fact, you’ll probably spend less with an experienced broker by your side helping you make good decisions along the way, particularly when it comes to financing, which is where we see builders take money from people with out them even knowing what happened.
There are special mortgage programs that allow someone to stay in their current home while the new home is being built. There are also zero down VA home construction loans as well as conventional home construction loans with as little as 5% down.
If you, a friend, or family member is considering buying a brand new home, please give us a call. We can help make it smoother, less expensive, and with far less risk.