Current economic conditions seem to have everyone in a holding pattern. Projects are on hold until better times. Therefore, are you better off to wait or should you begin your project now? We know that economics are cyclical. Times will be good again. In the meantime, material prices continue to escalate. I just received a bulletin apprising us of a 12% increase in gypsum board products effective June 23rd. Steel prices are likely to be double by this time next year according to suppliers. Rebar has already tripled! In addition, a relatively new house will appreciate and adjust to the market regardless of it's completion date. Simply put, if you wait a year and the house costs 25% more to build, will it be worth 25% more than a similar house completed a year earlier. Probably not. This brings me back to something I've always believed, sooner is better than later. So, if you're considering when to get going on that dream home of yours, there's no time like the present. Take advantage of the low rates.
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