Have you been dreaming about building a home for years and you were hoping that 2022 would be your year to build a custom home? Are you now feeling a little confused about whether this is actually a good time to build given the current home build climate (can we say CRAY CRAY)?
Let me reassure you that you are NOT alone in questioning if this is the right time to start building your dream home! This fear (and confusion) is so common that I’ve decided to address it in a blog post.
IS 2022 YOUR YEAR TO BUILD A CUSTOM HOME?
Let’s be real … this is a VERY tough time to be building a home given the material price volatility (I’m looking at you, lumber prices) and availability issues (i.e. lag time in production and delivery of materials).
Not to mention, the rising interest rates (which, by the way, they’ve been REALLY low for years so they were bound to go back up).
There’s a lot of uncertainty and it’s scary BUT people ARE still building. People are finding a way to make it work.
However, it’s important to be realistic and understand that what you could have built pre-pandemic is going to cost more to build now and that’s just the reality of the market we’re in. We’re paying more for everything (gas, groceries, clothing, etc.) … literally, prices for everything are going up so it makes sense that we’re going to pay more to build a house.
With that said, if you’ve been dreaming about building a home and now you’re on the fence because it’s such a difficult home-build market right now, you DO have options and it’s up to YOU to decide what the best option is for YOUR family.
OPTION 1: CHOOSE NOT TO BUILD A HOME (AT ANY TIME)
If you decide that you don’t want to build a home at any time (for whatever reason), there is NO shame in that!
You have to do what is best for YOUR family and YOUR financial situation.
Confidently own your decision to not build and move forward toward buying an existing house or tweak your current home to make it work for your family.
OPTION 2: POSTPONE YOUR DREAM TO BUILD A HOME
If you decide that now isn’t the right time for your family to build and you don’t have a major rush to move, it’s ok to stay put and give it a year or two to see what happens with the home build market.
You don’t have to give up your dream of building a custom home altogether … there’s nothing wrong with postponing it.
My recommendation is that you start the initial planning work so that you’re ready to move forward and jump right into building your dream home as soon as the timing (and market) is right for YOUR family and your financial situation.
OPTION 3: GO FOR IT … BUILD YOUR DREAM HOME NOW!
If you choose option 3 and are ready to move forward in building your dream home, GREAT! This is exciting and CAN be a fun experience … I promise!
It might be a lil’ scary but most definitely fun and exciting too :). I encourage you to start planning NOW because the more prep work you do BEFORE you build, the better your chance of sticking close to budget (especially in 2022!).
And this is where I come in as your home build guide (or as I like to refer to myself, ‘your home build bestie’).
Through my BYF Home Build Prep Program, I’m here to guide you through preparing for your build in a way that will increase your chances of ending up with a home you LOVE (#noregrets) and without completely butchering your budget.
Obviously, I have no control over material costs and delivery times. You don’t have control over these things either, BUT there are things that you DO have control over when preparing to build your dream home … no matter what is going on in the home build market.
I like to focus on what you CAN control and I’ll be sharing more about what you DO have control over in next week’s blog post (so be sure to tune in for that one).
In the meantime, I invite you to sang a (virtual) seat in my *FREE* on-demand video training: ‘3 Simple Keys to Build Your Dream Home Within(ish) Budget in 2022 … without sacrificing your must haves, no matter how big or small your budget’.
Grab your (virtual) seat here and learn how to prepare for your home build so that you’re ready to jump in and start building as soon as the timing is *right* for your family!