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April 28, 2022

Should I Wait To Build My Custom Home?

Should I Wait To Build My Custom Home?

A dream home. A vacation home. A summer home. There are plenty of reasons why you might want to get that custom home built and ready to move into right now. But how do you know if now is the right time? Read on if you’re wondering whether you should wait to build your custom home. 

Is 2022 A Good Year To Build A Home?

It’s no secret that the housing market has been wild for the past year or so due to rising demand, higher prices, and increased interest rates. Even so, 2022 can be a good year to build a home. Building a custom home tailored to your needs is an investment in you and your family’s future. It’s a long-term investment that will give you exactly what you’re looking for in a house. The value of your home is also very likely to increase as years go on. 

How Fast Can A Custom House Be Built?

The amount of time it takes to build a custom home varies depending on the location of your build, the size of your home, the materials you use, the efficiency of your building team, and whether or not your build faced any obstacles along the way. On average, it takes anywhere from 10 to 18 months to build a custom home. Smaller houses will be closer to 10 months, while medium and large homes usually take at least 12 months to be built. 

Is It Cheaper To Build Or Buy?

In the short term, buying a house that’s already been built is almost always cheaper. However, buying a renovated home can come with risks. Plus, once you factor in overall satisfaction with a custom home and long-term value, building a house can end up being the better financial decision — but only if you have the money to do it. The most significant advantage of building your home is that you’ll get exactly what you want without worrying about taking on a renovation. Building a home also means that you can choose the most energy-efficient fixtures when it comes to heating, cooling, and ventilation. Building an energy-efficient home can also save you money in the long run by lowering your utility bills. 

What Does The Home Building Market Look Like Today? 

The cost to build a custom home in Prescott has been steadily rising over the past few years. This rising cost is related to an overall increase in the cost of home building materials. However, the biggest reason prices are rising is inflation, which has risen to record-breaking rates in recent months. As of February 2022, the cost per square foot to build a custom home in Prescott, Arizona, ranges from $300-450.

Schedule A Project Review With Our Team 

If you’re looking to create a place that you can call home, now is the time to start building your custom house. At RES Contracting, we have 30 years of experience helping people build the custom homes of their dreams. Call us today at 928-776-0301 to schedule a meeting and review your project with a member of our team.