Is It a Good Time to Build a House?
Home building can be expensive. This is especially true right now. The pandemic has created many shortages.
For example, the price of materials such of lumber have skyrocketed. There is also a major labor shortage as a well. In this video, you will learn whether this is a good time to buy a house.
In this episode of The Ramsey Show, Helen wants to know if she should build a house now before interest rates increase. This is because interest rates are expected to skyrocket. However, Dave says that even when interest rates skyrocket, they normally only go up by as much as a quarter of a percentage point. Helen also says that she has saved up enough money to put 20% of the house down. She also has no debt whatsoever. This is a great start. Dave, says that it actually doesn’t matter much if she wants to build a house now or later as long as she has the money. It can be hard to predict the future. Interest rates may go up. On the other hand, material costs may go down. There are just too many variables to consider.