7 ways to save when building a house
When it comes to building, the general rule for keeping it affordable is to keep it as simple as possible. A simple crackerbox-style house on a flat lot in a subdivision with utilities is going to be much more affordable than a Victorian house in the woods built into a steep hill. 1. Work with […]
Renovation and construction loans shine in a sellers’ market
All across the country, home buyers are struggling to purchase a new house. When we see what’s happening in the market, it’s easy to see why: Average changes in February 2020 vs February 2021Inventory is down – 48.6% fewer homes on the marketHomes are selling faster – 12 days less on the marketHome prices are […]
Answers to common construction loan questions
What’s unique about a construction loan?It’s a short-term (usually 12 to 18 months) loan used for the materials and labor needed to construct a home. Sometimes, the funds are also used to purchase the lot the house will be built upon. The interest rate for a construction loan is typically around 1% higher than mortgage […]
