The Cost To Build A New House Is On The Rise

Whether you’re just getting started in the process or know you want to build a new house this year, sooner is better than later! I’ll share a quick story that will drive the point home. (Or you can watch the video instead of reading. )

I’m working with a client who met with a builder 4 weeks ago about building a new house. He didn’t like the way he was spoken to and treated during the meeting so he left and we eventually connected.

After showing him a few houses he decided to reconnect with the builder and move forward with building a new house, only this time with me in his corner.

After speaking with the builder I relayed the prices and my client was shocked! The cost to build the exact same house in the exact same neighborhood had risen $8,000 since their meeting.

The rising costs of new construction were passed down to my client and unfortunately there’s not much that can be done about it with the way the market is.

Builders know that they will sell their houses and there will eventually be a buyer to come along to scoop up a deal.

A lot of people are experiencing this same situation and it can be frustrating & overwhelming.

My advice would be this.

Set a plan and stick to that plan. If you have a number that you don’t want to go over, then don’t go over it.

However, if you love a specific subdivision / development and know you’ll live there for several years then move forward, build the house and be done with it.

Interest rates are going to start to rise and the affordability of that new house is only going to decrease.

Essentially your monthly note will rise as interest rates rise and the cost of construction will rise right along with it.

It will be a slow process of watching your dream home slip right out of your fingers.

So, take action. Build your new house, take advantage of these amazing interest rates and don’t get consumed with how unfair the costs to build a new house are.