Time to Build, Time to Buy
At Eastbrook Homes, we always want to give you more home for your money. Our goal is to make our building process easy and enjoyable, and ensure that the end result is a home you love.
As with any market, outside forces such as supply and demand and material prices, affect the cost to build a new home. The market for existing houses has also been extremely strong, creating a shortage in the number of homes available to eager buyers and pushing them to build instead.
After years of record lows, mortgage rates are also expected to increase again this year and chances are good that rates could hit the 5% mark by the end of 2018. Although rates are still comparably low, this projected movement has also pushed more people to buy or build this year.
At Eastbrook Homes, we have always done our best to keep costs managed so that we can stay focused on our goal – to provide our customers with more home for their money. Through partnerships with our suppliers, we leverage our buying power to get the best prices on our building materials and pass those savings on to you.
However, the price of lumber and other materials is also projected to increase throughout the year. With these changes in the housing and financial markets, we believe that 2018 is a good time to buy or build a new Eastbrook Home.
If you are considering the construction of a new Eastbrook home, this is a great time to get your project started for several reasons. Interest rates are expected to continue their upward climb, so waiting to start your project will impact monthly payments.
With material costs expected to increase, the cost to build could impact the size of your project and the options you select to personalize your new West Michigan, Lansing, Michigan, or Auburn, Alabama home.
Despite the impact of material and financial changes, West Michigan – and especially Grand Rapids – housing markets are still considered undervalued according to a nationwide study by real estate research firm, CoreLogic.
It’s still a great time to buy, and the Eastbrook Homes team wants to ensure that no matter what’s happening in the real estate market, our family of homeowners will always get more home for their money. Please contact us today to discuss your project.
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