Given the housing industry’s historic shifts during the past 2 years, we can expect 2022 to present ongoing challenges for eager homebuyers. Individuals of all ages—from young families to retirees—may wonder whether they should build a home now or wait a few years. If this question concerns you, our experienced team at Paradigm Homes can offer valuable guidance for your specific home situation. We can help you consider today’s high-demand market, ongoing and changing material costs, and selective buyer and builder behavior for Luxury Homes in Arlington.
Here, we discuss whether you should build a home now or wait:
A High-Demand Market
The nation’s home building industry continued to strengthen at the end of 2021, and market experts now expect demand to remain high through 2022. As a result, experts predict home prices to increase almost 3% while sales increase 6% over last year’s highs.
Local trends mirror the national ones. In an interview with SN Mortgage Company, Paradigm’s Owner and President Tim Winter reported that the company was averaging high Design/Build rates over the past few months and will continue to operate at this capacity over the next year. Our Design/Build and Pop Top processes offer a unique solution for buyers worried about ROI: the chance to create a home suited to their needs. Paradigm’s comprehensive services help buyers navigate competitive markets rather than compete over limited homes on the market.
Understanding Material Costs
The costs of materials continued to rise during the first half of 2021. We are seeing a similar trend this year, experts are hopeful that the market may stabilize, but there is still a lot of uncertainty in the market.
Reach out to Paradigm today to learn how we can help analyze your budget concerns in this fluctuating market and ensure you, as to why now is still a good time to build a Custom Home.
Selective Buyer & Builder Behavior
A high-demand market can produce selective, competitive partnerships. Tim says that Home Builders are being more selective about which clients they take on while operating under increased demand. He encourages buyers to do the same!
Research contractors and Design/Build firms thoroughly to determine whether they can meet your design needs in light of supply chain issues and labor shortages. Tim also suggests, “See what’s going on with the quality” in regards to the Home Building process.
Additionally, he encourages buyers to ask which products the builder is using “behind the finishes.” Why not see whether they leverage design technology to save you time and money? Then, ask your builder candidates: “What is going on in the energy efficiency realm?”
Choose a Home Builder that continues to rise above current industry constraints. Find a firm that you get along with and share your project vision and do not try to impose theirs. Finally, establish a schedule that works for both you and the builder and adapts to the market’s fluctuations.
Design/Build Your Dream Home with a Custom Home Builder in Arlington, VA!
Bring your dreams to life with Paradigm Homes, a Custom Home Builder working in Arlington, VA. Paradigm guides clients through the complex home building and buying market, creating a specialized experience through our Design/Build process. Your project also supports the Paradigm Foundation, which provides homes to those in need around the world. Contact us today at (703) 476-5877 or by completing the online form.
Use the link here to watch Tim Winter’s full interview with SN Mortgage Company.