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The market may never be better for building your dream home, heres why:

 

The weakness in the housing market provides a great opportunity to consider building your dream home.

Finding opportunities in the economic slow down can help the economy get back on track. One perfect example is that there may never be a better time to consider building your dream home than right now. There is a large surplus of labor in the home building industry and contractors will probably negotiate a discount with their fees to guarantee work. Home building materials have dropped in price as there is a reduced market demand for items such as wood, ceramic tile, roofing materials, concrete, etc. When you combine this with interest rates hovering near historic low levels then you can begin to see the opportunity unfold. If you have a home to sell, then you should carefully review the financial opportunities of lowering your sales price to ensure a quicker sale to purchase your dream home. If you lose 10% on a 150k investment, but are able to realize a 10% savings on a 250k investment, your net benefit would be ten thousand dollars. Most lenders do not offer construction loans, so be certain to begin the process of securing your financing before you commit to any projects or sell your home. If you are working with a large builder be certain to compare their in house lender programs with the open market to ensure you are getting the most favorable loan terms.

1-26-2008 ? LoanNetwork.com

 

 

 

 

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