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.
Chart: 2017 Mortgage rates, freddiemac.com
The Moodys chose Louie’s company for several reasons. “We were very impressed with his personal home as well as the other homes he’d built. He actually came in a little lower than the other builder we had interviewed and gave us more detailing to the house than they planned on doing,” Leslie says.
Features the Moodys had not expected included wrought iron railings outside and on the inside staircase, and larger doors for their bedrooms and closets. “The larger doors really made a difference,” Leslie says. Louie also found extra space and suggested uses for it, including adding an office off the upstairs playroom.
Retired Army Colonel Dwayne Green and his wife, Starline, contracted Hopkins Builders to build their retirement home. Dwayne says, “It was a pleasure building this house. I’m a fan of Louie’s. He’s young and bright. He’s done amazing things at his age, and I don’t say that about many people.” He adds, “I’m not a novice when it comes to construction.”
Dwayne grew up working with his father in construction, and then earned an engineering degree from South Carolina State College. Before retiring from the Army, he realized he did not own any properties and started purchasing and renovating homes. Since retiring, he continues to work from home as a contractor for the Pentagon, and he continues to acquire and renovate properties of his own.
Dwayne interviewed eight builders before choosing Louie to build his family’s retirement home in Florence. Three important things to Dwayne were that Louie’s company was financially sound, the projects it constructed were high quality and Louie was very easy to work with.
Dr. Douglas Snowden and his wife, Deryl, have a long professional and personal relationship with Louie Hopkins. As they began the process of planning and building their home in 2004, they discovered rental properties that Louie had constructed on speculation.
The Snowdens started purchasing some of those properties, and also had Louie build others for them. They now own 26 residential rental properties, including duplex apartments, two-story townhouses and a commercial building, all of which were built by Hopkins Builders.
Deryl says, “Even now, if I need anything done for our personal residence, I call him. He’s a good guy, and he really is a good builder. He’s loyal to his customers, and he works really hard to please them.”
She adds, “We have been very pleased. I think it speaks to his character that we’ve all remained friends and we can all go out to dinner together.”
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.
In 2003, Hopkins Builders built a home for Badge and Laura Baker in Florence. In 2008, when Badge’s employment took him to Manning, SC, they turned to Louie again. Badge says, “We were very pleased with how Louie built the first house, so we were happy to use him again for the second one. He was very prompt in doing what he said he was going to do. I thought Louie was very helpful with suggestions to dress up a room or to cut back on our costs.”
Badge says he was not up to date on building materials and methods, but Louie was, so when he read or heard about something new, he called Louie. “I relied on him to help out with that,” Badge says.
The area is climbing back to normal as it attempts to clean up after Hurricane Matthew blew through. You may be one of the unlucky ones that experienced damage to your home. Many have been surprised at the enormous estimates to repair seemingly superficial damage. This may be a good time to think about trading up to a newly built home from Hopkins Builders. Look around your home and think about all the things you’d like to change. This may be a golden opportunity to make that leap to a brand new home! Give Louie a call to discuss the possibilities!
Chris Arnold in a recent story on NPR, reports that home renovation is experiencing a boom, which has strained the ability to find a good contractor. Arnold reports that with rising home values, homeowners now have the ability to spruce up their living situations using their homes equity.
Some are spending upwards of $140,000 on kitchen renovations. Granted, this antidote is from the North East where prices are a bit higher, but it begs the question of when would moving to a newly constructed home be advantageous to fixing up the same old place. If you are thinking of a major renovation to your existing home, you should consider the opportunity to move to a new home, constructed just for you! Contact us today and we’ll be glad to walk you through your options!
Owner Louie Hopkins is a second-generation builder. As a youth, he began helping on construction sites and eventually worked his way up to overall management. With hands-on experience in various phases of construction, he founded Hopkins Builders in 2001 with the knowledge that making customers happy was the only way to be successful, and the company soon earned a sterling reputation.
Louie says, “We try to go above and beyond in all of our homes. All of them exceed energy-efficiency standards. I think our customers appreciate that we try to give them a higher-quality home with larger moldings, custom cabinets and a variety of flooring options.”
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.