Outside Forces Can Affect Home Cost

Generally most people think of the local market as the major driver of the cost of a new home, while this is true, other outside forces well beyond the area can have an impact.

The cost of materials can be affected by a wide range of factors. Currently in the news is the talk of tariffs on imported goods. One of particular interest to builders is lumber imported from Canada. Canadian lumber makes up to 40% of the lumber market in the U.S. So an increase in it’s cost will surely cause the overall price of lumber to rise.

Another impact is local and state building requirements and codes. These rules are set by county, state and federal building code offices for reasons of safety and zoning. They can seem very arbitrary and many more rules and requirements are added every year. Deciding to build your home next year as opposed to this year, can sometimes be the difference of a few thousand dollars, depending on how many new codes go into effect. And don’t forget the myriad of permits and fees associated with building a home.

Federal laws can change what building supplies are available and their cost. When new laws are in acted, for instance one to limit the amount of water a toilet uses when it is flushed, can cause product availability issues and also raise it cost.

Other rules surrounding the professionals and workers that are involved in the housing industry also play a part. State or counties can require special licenses or training for real estate agents, contractors, professional trades (plumber, electrician, etc.), lawyers and even day laborers. An additional requirement or cost to any of these individuals will certainly be passed down to the home buyer.

Banking law and interest rates, of course, contribute immensely to the cost of your new home. A slight increase in the mortgage interest rate or limits on how much you can borrow can make the difference between getting that polished granite countertop or settling for a nice faux one.

Fortunately, Louie Hopkins can help guide you through this process. His experience and connections within the local building community, gives him the knowledge and expertise to navigate even the most complicated plan. He has relationships with local real estate agents, brokers, and developers to help you find the right lot. Rest assured that Hopkins Builders has every item on the list covered, from permits to licenses. Give them a call today, 843.992.4697.

Mortgage Rates Remain Flat

Good news! Mortgage rates this year have remained relatively flat with only a slight tick upward of less than two tenths of a percent forecast.
Although rates are a bit higher than last Fall, they are still at all time lows. In addition, reports show that the inventory of existing homes for sale is low, keeping home prices up. That has caused newly constructed home costs to be extremely competitive in this market, and can even cost less than comparative existing homes.
You owe it to yourself to explore your options when purchasing a home. Give Hopkins Builders the opportunity to discuss your home needs and what a newly constructed home has to offer.

News story

Chart: 2017 Mortgage rates, freddiemac.com

Mortgage Rates Tick Upward

For years, mortgage rates have remained at historic lows. But that trend seems to finally be ending as the Federal Reserve begins to raise their rates. At one point in the last five years, mortgage rates have been as low as 3.36%. Those days may be over for good.
With that in mind, those considering a new home project would be wise to explore their options now rather than later. Hopkins Builders can answer all your questions about the process of building your dream home, as well as suggest neighborhood developments and lots. Give them a call today.

Owning Your Home Still The Best Investment

According to a recent story by the AP, 10 years after the housing peak, homeowners are far better off than those who are renting. The huge drop in interest rates have made housing much less expensive than renting in addition to gaining equity. Renters are faced with rising costs due to the higher demand for rental properties. These stark realities prove once again that owning your own home is bar far one of the best investments you can make. If you’ve ever considered building your new dream home you owe it to yourself to explore the many opportunities. Louie at Hopkins builders will be glad to discuss those possibilities today, give him a call at 843.992.4697.

Mortgage Rates Rising, Now is the Time to Build Your Dream Home

As the Fed hints at rate increases, Mortgage rates have ticked upward, according to a recent Forbes report. While forecasting what rates will do in the future is anyone guess, reason has it that the historic low rates can’t last forever. If you’ve been thinking about building, now by be the best time to start the process for your dream home. Contact Hopkins Builders today and we’ll talk you through the process and what you need to do to get on track toward your new home!

Mortgage Rates to Remain Low

The Federal Reserve will continue to try to push long term interest rates lower in an effort to encourage borrowing and rev up the economy. That means mortgage interest rates will most likely remain low for the foreseeable future. That’s good news for those that can qualify for a new home mortgage. Now is certainly the time to put that new home plan into action. Although it appears that interest rates will continue to stay low for a while, it’s very difficult to determine how long they will last. Call Hopkins Builders today to discuss your new dream home.