It’s Still A Good Time To Build

Considering how fragile the economy is right now and how timid banks are to loan money for new home construction, it is no wonder that one of the most frequently asked questions from our customers is “How they can save money building their new home?” It wasn’t that long ago when banks were “basically” giving out loans and the trend was to build large, extravagant homes. Today banks are less likely to fund new construction because of the high costs associated with new construction. The good news is that homeowners are now more apt to build smaller, greener and more affordable homes. But time is ticking as fixed mortgage rates continue to climb.

If you’re set on building a new home there are still many ways you can keep your cost down, which will make the banks more likely to fund your project. You can start by purchasing a stock house plan, which will save you thousands over hiring an architect or designer. With the decrease in new home construction, you can easily find great building and design products at a discounted rate. You also can look to FHA loans, which are still the best alternative to a conventional loan. You’ll want to inquire about a new Federal Housing Administration program, which will let first-time home buyers use their $8,000 tax credit for down payments or closing costs.

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Christine Cooney

Editor in Chief at The House Designers

Christine has over a decade of experience as a house plan and floor plan expert. Outside of providing her expertise to customers to help them find and build their dream homes, her passion and knowledge of the home building industry allows Christine to guide families and builders through all of the important steps from finding plans to building custom homes that meet the expectations of today’s new home owner. Christine’s years of knowledge of the diverse trends and needs of the modern homeowner has made her into an authoritative and trusted voice in the online house plan community.

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Christine Cooney

Christine has over a decade of experience as a house plan and floor plan expert. Outside of providing her expertise to customers to help them find and build their dream homes, her passion and knowledge of the home building industry allows Christine to guide families and builders through all of the important steps from finding plans to building custom homes that meet the expectations of today’s new home owner. Christine’s years of knowledge of the diverse trends and needs of the modern homeowner has made her into an authoritative and trusted voice in the online house plan community..