With the unpredictable nature of 2020 and 2021, home buyers are taking steps EARLY to purchase their dream home. In today’s housing market, it is no longer an option to procrastinate. With price increases and a rise in demand, it has become essential to ensure that you have a plan to find the right home. In this article, we’ll discuss the reasons home buyers are planning ahead, and explain why you might want to do the same.
It’s no secret that the cost of homes has increased in the past year. The spike in material costs paired with slowed production time due to the pandemic drove prices up significantly. The American Auction Forum estimated an overall 15% price jump compared to this time a year ago. That statistic can be intimidating, which is understandable!
Whether you choose the traditional stick-built method or go the factory-built route (which is what we do!), having a plan in advance is highly recommended. To ensure that you can move in to your new home when you are expecting, timing is key. Some aspects of the home-building process will be out of your control, such as unexpected delays…or a worldwide pandemic. Regardless, we would like to explain the trends we’ve seen and why they might apply to you.
At Middletown Homes, we have seen more and more home buyers come through our doors that want to plan their build 2 or 3 years in advance. A lot of people want to start looking at homes before they plan their budget or buy land, which helps them get a feel for what they want a nd gives them the time they need to make the best decision for them.
People have always loved fantasizing about their dream home and imagining exactly what it will look like (thank you, Pinterest!). This year in particular, though, we have noticed home buyers wanting to be more involved in the process – and EARLY. Some of our customers come to us knowing exactly what floor plan they want, the interior style they are looking for, and have their budget already set in stone. We have seen a big increase in the use of our InHouse Experience tools, which offer users a chance to test out different options for their home online.
Both first-time buyers and experienced buyers are feeling the need to be prepared – and we love it! The current timeline for most home builds is around a year, which varies depending on the builder. Having a plan in advance can help you feel confident in your choices and help you move in on time.
If you’re considering buying a home in the next few years, you might want to follow the trend of acting early. Giving yourself plenty of time to weigh your options and get your finances in order will not only help you feel more secure, but it will also maximize the ease of the whole process.
· Decide what home type is best for you (check out our blog post on this topic!)
· Research home builders that fit your needs and your budget (we have a blog post for that too)
· Talk to your financial institution about a savings plan or loan options
· Visit the locations of a few home builders and talk to a specialist about your vision
· Get excited!
Even if you’re not planning to build a home soon, it might still be fun to create a plan anyway! Make a dream home wish-list, take a look at your home savings plan, or visit a home builder to see what they do!
If you’d like to learn more about home building or what we do here at Middletown Homes, contact us today and speak to a sales specialist, or continue browsing our homes online!