In a period of global unrest, as we are experiencing, there are natural feelings of uncertainty. You are spending a great deal of time at home looking at the same four walls from dawn to dusk, and while each of us are impacted uniquely, now is the ideal time to dream of new builds.
A new build takes time. From the initial meeting with your construction partner, through to completion on move-in day, the process could take months or in excess of a year. After all, new builds are focused on creating your dream home!
With the additional time we have available to us now, it is truly the perfect moment to dream of new builds. While you might not be meeting your construction partner in person until we are all able, use this time to visualize and research.
Here are 5 reasons why now is the time to dream of new builds
1. Utilize this time to conduct your research
What are the trends in building a new home in 2020? What are the most popular materials of the year? Questions that you otherwise may be saving for the midnight oil can be done while we are all practicing social distancing!
When it comes to 2020 trends, we are seeing this as the year for sustainable development and sustainable architecture. We as a society are evolving into one that is focused on environmental commitment. Consider looking at recyclable materials, eco-friendly furniture and more. Research options that are available to you locally, that fit within your budget for a new build.
2. You have the time to create an annual budget
Speaking of budgets…
At this time, your kids are home from school, you may be working from home, and distance is kept between yourself and others. What better time than now to create an annual budget? Everything from monthly expenses to allocating a fund kept aside for a new construction build, consider starting an Excel sheet to plot out and plan your greatest dreams ahead.
3. Get your financing in order while local banks are quieter (than usual)
With many banks and branches closed or offering limited hours, staff are working from home during this time. Take advantage of the opportunity to get your financing in order without the need to go into a physical bank. Much of the paperwork, including your own budgeting, can be done via email and phone conferencing. While you will need to obtain a signed construction or purchase contract with your builder or developer before a bank can provide you with a loan, there is much work to be done with the upfront details needed before a loan can be provided. Take advantage of some spare time available to you!
4. This is the time to look for ways to save…
If you are just getting started with creating the vision for your dream home, this means you have plenty of time to plan. Giving yourself time also provides you with the opportunity to look for ways to save. From appliances and furniture to building materials and outdoor landscaping, an extended planning and building schedule will ensure you do not need to make quick decisions. Take time to source appliances that fit your budget, and building materials the will withstand the test of time.
5. If you haven’t found the perfect piece of property, we may be entering a buyer’s market
While the finance market is in question, this means a buyer’s market may be coming our way. The buyer’s market can provide you with two opportunities – one, potentially lower mortgage rates and two, potentially seeing an increase in property that enters the market. Practicing social distancing, you may feel inspired to go for long drives as you identify not only an area that you and your family are looking to reside in, but you can also spend the time to “home shop” and drive by some of our latest new home build projects.
While we all practice social distancing together during this time, you can use this as an opportunity to create the vision for your new home. When the time is right, we will be there for you as you pursue the next steps in transforming your vision to reality. To learn more, contact us here.