Author: Jerry Rouleau Added: August 21, 2008
Now is the best time to build or buy a home. Stop listening to the media and everyone else. Are they giving you the complete picture and telling you all the facts? Secrets that the media is not telling you • Have you read any articles that say that the population is decreasing and the demand for housing will go down?
• Have you seen articles that say that owning a home is no longer the dream of American consumers?
• Have you read articles on how 94 to 96% of the population is still gainfully employed?
• Have your read articles that say if you have a job, down payment money and a good credit score, that you can still get a mortgage? If you answered “no” to the above statements and feel that the population is still growing and owning a home is still a goal of most people, just think of the pent-up demand for housing that is just around the corner! What will happen when the market turns around, will prices start to climb? “The media’s job is to focus on how bad things are and make them worse.” Why now is a good time for you to buy or build a new home?
• Interest rates are great. In fact they are at an historic low.
• Building material prices are good and will go up, when the market opens up. The longer you wait to build, the chances that high fuel prices will effect building material cost. Do you see energy costs going down in the near future?
• If you are thinking of building a new home, contractors, sub contractors and land are available.
• Lot prices are about as low as they will be, and choice and availability are at their best.
• Money spent on a home is a better investment, than money spent on a rental.
• Money spent on a home is a better investment than money in today’s stock market
• Mortgage interest is still a tax deduction.
• Have you ever said to yourself, I wish I had bought that home or piece of property a few years ago, but thought the price was high? Now it seems like a real bargain! Don’t wait for the “all clear to build”, from the media. By then it will be too late. When they say now is the time to build, housing costs will start to rise, labor shortages will create long delays, interest rates will rise to try to control inflation, and homes will become less and less affordable. Low mortgage rates, combined with the lowest material and land costs we’re ever likely to see, mean that right now you can build or buy more home for the money, than you will when the housing market recovers. What this all means is that buyers who sell their homes today might get 8% - 10% less than they would have gotten back in 2005, but the cost of new construction is currently down by nearly 20% from those same levels (but already climbing.) So what’s the big deal if you get less for your home, when you can then turnaround and build your dream home at a greater value? Sure, when the market recovers existing homes will regain their previous value, but they won’t keep up with the rising costs of new construction. Do the math, now is the time to buy.
--- Jerry is a speaker, author, and consultant, specializing in the housing industry. He is the author of two books and a frequent article contributor to numerous building trade publications. Jerry is also the producer of the Builder Radio Media Network, which includes BuilderRadio & BuildGreenRadio.
Jerry can be reached at 860-589-7391, by e-mail at: jerryrouleau@comcast.net or through his website: http://www.jrouleau.com
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