If you think the winter months are a bad time to build a custom home, then you need to think again. Yes, while the wintertime may be the traditional, non-busy season for builders, this can also work to your advantage by helping to ensure cost savings on materials and labor as well as greater schedule certainty. In this post, we'll take a look at some of the key reasons why it could make sense to build a home during the winter months. Here's what you need to know:
4 Reasons to Build a Home in Winter
1. Subcontractor Availability
If there's an "offseason" for builders, it's during the winter months - but this isn't necessarily a bad thing. This is when the demand for labor is traditionally low, and, as a result, you may even be able to save some money on materials as well. The bottom line is that contractors want to work during the winter months when their schedules tend to be lighter and they're challenged to maintain cashflow. And while there may be some costs in the winter that property owners may have to budget for, such as portable heating and lighting to combat shorter days, these costs are often dwarfed by the increase in materials and labor come spring. Just think of the very basic concept of economics - supply and demand. When demand is low and supply is high, as is often the case during the winter, you're likely to benefit. When supply is low and demand is high during the spring and summer, the opposite may be true.
2. Interest Rates are Still at Historic Lows
As of January 2022, mortgage interest rates are still at near-historic lows - but there's evidence that these low rates may not last for much longer. The Federal Reserve has hinted for the past several months that an increase in interest rates could soon be on the way to help fend off further inflation. For reference, right now, the average 30-year fixed mortgage interest rate for someone with good to excellent credit is about 3.8 percent, while a 15-year fixed is at about 3 percent. It can make the decision to build that custom home now easier than waiting for what might come in the future.
3. Warm Weather Climates Can be More Favorable in Winter
If you're building in a warmer weather climate, like Arkansas, you're not likely to face some of the challenges that might come with home building in an area that experiences bitter cold winters. In Arkansas, for instance, the average temperature in the winter tends to be around 43 degrees Fahrenheit. Highs even tend to get into the low 50s. When you're not dealing with bitter cold, snow and ice, and many of the other wintertime conditions that other areas of the country face during January and February, it makes building more convenient and construction crews are better able to maintain their productivity.
What's more is that any good builder plans for inclement weather, no matter what time of the year it is. Even if a winter storm is forecast, it shouldn't push the schedule of your project in a significant way. And being that inclement weather tends to be less common during the winter months, the schedule is likely to stay more on track than during the stormy spring and summer seasons.
4. Better Move-in Time
When you build during the winter months, it's likely to mean that you'll be moving in during the summer. For many property owners, this is the ideal time to settle into a new home. Not only is the warm, summer weather convenient to move in, but there are many other benefits to moving into a new home at this time of year. These benefits include:
- Settling in before any children in the home return to school.
- Being able to address landscaping during the warm weather months so plants can begin to take root.
- More flexibility in your schedule with longer days and more daylight.
For more information about the benefits of building a custom home in the winter and to schedule a consultation, contact us today.