Why should buyers pre-qualify with a local lender?
Today I’ll give the buyers out there some tips on pre-qualification to help get their dream house.
Everybody talks about how getting pre-qualified is the most important thing to do first. These days, it’s even more important that you get pre-qualified by a local lender. They should be a trusted lender that your agent knows will close on time and who won’t treat you like another file in the pile.
The advantage of having a local lender is two-fold. First, you’ll have an in-person contact who can guide you through the process. We know that interest rates won’t stay this low forever, so you’ll want someone who can advise you on refinancing, when to buy your first house, when to turn it into a rental, etc. Secondly, establishing that relationship will save you from suffering delays. If you’re working with somebody local, they’re going to make sure the job is done right.
If you have any questions, feel free to reach out to me at 706-481-3800 and check out AnnMariesMcManus.com. I look forward to hearing from you.
Here’s how the rising cost of lumber has affected new home construction.
Things have been changing in the new home construction market, and these changes are mainly tied to the rising cost of lumber. In fact, lumber costs have risen by 180% since last spring.In previous blogs, I’ve spoken in depth about our low home inventory levels and high buyer demand. Builders are doing their best to continue construction, but the high costs of lumber are making the process more expensive. On average, the cost to build a new home has increased by $25,000.
It’s been important for both buyers and builders in the new construction market to accurately calculate their costs and stay flexible. Buyers must watch out for price increases they’re unprepared for, and construction delays are always possible due to pricey lumber costs and shipments.
We’re continuing to work with buyers and builders to ensure everyone knows what’s happening with new home construction and why. If you’re looking for more information about a particular neighborhood, or you’d like to know how these changes may affect your situation, feel free to reach out to me. I look forward to hearing from you soon.