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If you’ve been in the market to build or buy a home in the past few months, you’re probably aware of how hot the real estate industry is right now. Buyers across the country have been looking for homes they love to spend time in, and Weston Dean Custom Homes has been helping homeowners do just that since 2010. With so much going on in the world, you might be wondering if it really is the right time to build a new-construction home—we can confidently say yes. Read on for a few reasons we’ve seen homeowners jump at the opportunity to build a high-quality custom home in the greater San Antonio area.
Take advantage of record-low interest rates
For almost a year, the real estate market has been busier than most other industries—thanks in part to historically low interest rates. These interest rates are giving buyers the advantage and an opportunity to become homeowners at a lower cost. While building a new-construction home instead of buying requires different avenues of financing, Weston Dean Custom Homes and your lender can help you navigate the building process.
However, we also need to remind you that interest rates change daily. Once you start shopping for a construction loan and find the rate that’s right for you, you’ll enter into a contract—this contract agrees to the rate offered, and your lender agrees to give you that rate for a specified number of days (typically 30). Just like airline and hotel prices, specified days of the week are better for the buyer. The Mortgage Reports, with help from MBSQuoteline, broke down what days are best to lock in your rates. Mondays, Tuesdays and Thursdays are optimal for homebuyers—with the least extreme changes in market prices posing the least risk for the borrower.
We suggest you take advantage of these rates now because we’re not sure when they’ll start rising again. Once you’re approved for a loan, we’ll work with your bank to develop your draw schedule, which is based on benchmarks throughout construction.
Gain appreciation quickly with Texas land
One of the biggest benefits of building a custom home is the ability to build it on your preferred piece of land. Whether it’s your own private property or in one of our communities, purchasing land in the San Antonio area is an incredibly smart financial investment.
According to one San Antonio real estate market and investment report, area home values have appreciated by nearly 60% since 2012. The eight-county San Antonio-New Braunfels metropolitan area (where Weston Dean Custom Homes predominantly builds), has seen home values go up 4.3% over the past year. Zillow predicts they will rise another 4.9% in the next twelve months. Additionally, when you build a new-construction home in an area filled with other new-construction homes, your appreciation will increase more consistently because property values are always increasing.
Buying land in this area now will lead to great appreciation down the road. It’s never too late to get in on this investment.
Get exactly what you’re looking for
Building a custom home provides the opportunity to include everything your family needs and wants in your space, without compromise. You won’t have to go through the struggle of finding a home, just to spend more money and time on remodeling.
Don’t wait another day, week or month to make your decision. The only regret you’ll have working with Weston Dean Custom Homes is that you didn’t start sooner. Contact us today and we’ll be in touch as soon as possible.