you will pay more upfront but save a bundle on interest. rates are low
That's true, if you're financing. But, if you're gonna pay cash, now is not the time to build.
Just my .02
Well before covid hit you could get rates on 30 fixed for 3.75% or a tad lower, that was dang good. I dont think the feds are gonna be in a hurry to get us back up to 5-6% again. Why pay 10-20% more in materials to build a house now to save 1% point. Wait it out.
Friend just bought 10 acres to build on, and contractors have already told him the house he wants would be on avg 80grand more than usual due to material prices now. He's gonna work on paying of his new lot the next couple years and hopefully things will be better for building by then.
I want to build a shop, just not going to right now.
