If you’re thinking about building a custom home, odds are you’re aware of the current state of the world. Industries all across our nation have been impacted by countless issues including labor shortages, lumber and material price hikes, and production delays. But how are these changes affecting our local home building industry? For those in Las Cruces, there is a silver lining when it comes to custom home building.
This month, Judd Singer, founder and head builder of Villa Custom Homes, answered a few of the most common questions people ask him. Check out Judd’s answers below.
If you’d like to learn more about Villa Custom Homes or if you’re ready to get started building the home of your dreams, then give us a call!
What is the current state of Las Cruces’s housing market?
- The housing market remains strong and building lots remain difficult to find.
Is this the right time to buy a home in Las Cruces or should people wait?
- I get this question frequently. Presently, it’s a conundrum because the prices of materials are dropping, but at the same time interest rates are increasing. I believe the time to build is right now. The free market controls the price of materials and materials prices will seek out what the market will accept. However, interest rates are controlled by the government. The last time in history interest rates we at the recent lows was 100 years ago. Unfortunately, interest rates aren’t likely to start going in a downward direction for a long time to come.
What is affecting housing costs in Las Cruces in 2022? Is the lumber shortage still an issue?
- Lumber remains to be a challenge for the foreseeable future. Materials costs have gone up but so have labor costs and overhead. Fuel is almost twice the recent cost and everything we get, every machine we use, and every product made in a home requires energy.
What should first-time homeowners know about buying in Las Cruces?
- Prices at the entry-level of the market remain very competitive. Everyone in the industry, from top to bottom, is trying to cut costs to give buyers the homes they want for the prices they can afford. There’re programs for first-time buyers that they should check into. [Click here to learn more about New Mexico’s mortgage programs for first-time home buyers.]
What factors into the overall cost of custom home building in Las Cruces?
- Presently, I’m meeting with clients that have unimproved lots. Meaning no, water, no electricity, and no infrastructure of any kind. We can make electricity to build with but we cannot make water. On those types of lots, we need water first. Beware, well drillers are busy now.
Choose Us As Your Custom Home Builder in Las Cruces Today!
Custom home building is an exciting, collaborative process. It may seem overwhelming, but Villa Custom Homes will be here to guide you through the entire process. There are many pros and cons to building a home at this time, but as Judd said, the best time to build is right now. Things may change in the coming months, so it’s best to begin the process now in order to avoid any future obstacles.
If you’re ready to take the next steps toward your dream home, then give us a call! Perhaps you’d like to learn more about the Las Cruces housing market or you’re curious about what goes into the cost of building a new home. Well, to find all the answers you’re looking for, simply reach out to Villa Custom Homes!
Together, we’ll create a home worthy of your admiration.