Are you thinking of building a new house? You're certainly not alone in that. According to iProperty Management, the number of new builds in 2022 was over 27% higher than the previous 120-month average. When it comes to housing, there's nothing quite like building to your own tastes. We highly recommend striking while the iron is hot. Here's why now is a great time to build your new home.

Construction Costs Are Down, Customization Is Up

According to the World Economic Forum, the costs of materials are getting lower now compared to when the supply chain was greatly slowed down by the pandemic of 2020. Initially, there was a spike in the price of lumber, which made building homes a lot more prohibitive. General contractors were struggling, but now, the tide has begun to turn. That means that you're going to pay a lot less for building materials than you would have a couple of years ago. There's no telling what the future holds, however, making now a good time to build.

Now that the supply chain has improved, it also means you'll have more options at your disposal to customize your home the way you want to. Since there are more materials available for general contractors to get their hands on, there's more variety to go around. As a result, you'll be able to build the home of your dreams without having to make many, if any, compromises.

Interest Rates Are Likely to Drop

While this one is more subject to the whims of the housing market, you may be able to expect better rates on your mortgage. That's another added incentive to having your home built now. You can lock yourself into great rates and stay on top of your payments much more easily, making for easier living down the road.

You Can Implement New Smart Technology

These days, we have access to technology that seemed like the realm of science fiction, or at least peak opulence, just a few decades ago. When you build your own home, you can plan ahead for the installations that'll save you money on your energy bills, make chores much easier, increase security, or boost your entertainment.

Are you looking for general contractors in your area? We'd be more than happy to help construct the property of your dreams. Contact our team at Chuck Harrell Home Construction today to learn more!