Kids are back to school, football season is upon us, and cooler fall temperatures are just around the corner. And though Spring tends to be recognized as the time of year to build a new home, it may surprise some that Fall is a great time to consider new digs.
When autumn arrives, so do the cooler, dryer temperatures which are ideal for home construction. If you’re looking to build during this time of year, it’s important to consider the benefits and tradeoffs in costs, financing, weather and timing.
Material costs in home building can vary greatly at different times of the year. During active building periods of spring and summer, higher demand drives up lumber and material prices across the country. Alternately, lumber prices tend to decrease in the Fall when building slows down in the colder climates. The savings can be considerable depending on the location, size of the home and number of competing projects.
If the home is financed and closed before the more severe part of the winter, foundations can be set, and the building can begin. In most cases, builders prefer working in the cooler temps as they can dress warmer and bring in heat much easier than battling oppressive temperatures. If all goes as planned, driveways can be poured at the first sign of spring and you’ll be grilling on your new deck before you know it. Overall, building a new home at this time generally takes longer because of the unpredictable weather and fewer clear days, but the tradeoff can be a better deal.
Budgeting your new home building project is one of the most important factors. Identifying the amount of home you can afford is key to ensuring long and happy homing. And though mortgage rates have risen slightly in the past year, they still remain very attractive. When considering financing, it’s best to shop mortgage rates as the market is quite competitive.
Patience & Flexibility
The hitch, of course, is that you’ll need to be flexible and have patience when building at this time of year. An early winter or long cold spell could cause unforeseen delays. But if you’re willing to wait for your dream home to be completed while saving some money, you may find that getting what you want at a better cost is preferred over building a home at the busiest time of the year. Happy home building!