Building Your Own Home – How Do You Know the Perfect Time to Build?

Home building is an adventure. But it’s often difficult to pull the trigger and get started. Whether you’re an Owner Builder building your own home or using a General Contractor to build for you, it’s not easy to get the timing right.Question: Is now a good time to build a home?Answer:Real Estate, like life and business, has its ups and downs. At the time of this writing, I get this question a lot. It comes in different forms such as:
Should I wait until homes are appreciating in value before building a home?
Would it be better to buy a foreclosure or another existing home instead of building?
Does it make sense to rent in the current economy?
The answers to these and similar questions can depend upon when you’re reading this but the truth is that it’s more dependent upon your situation than it is a question of the economy.What are Your Home Building Objectives?You should think specifically about your goals … what are you trying to achieve? Where do you want to be in a year or two and how do you want to get there? In other words, it’s very personal. The decision to build should reflect your needs, your situation, and your ability to make it happen.I’ve helped people to build in many different housing markets. And I know through direct experience that economies and home values aren’t the only driving factors. If you know what you want and have the financial means to achieve it, then almost any market or economy can be a good time.When you’re really clear, you’ll know it. Till then, keep researching and learning.