If you’ve been considering buying a new home, whether you’re looking to move up into a larger home or wanting to scale down in preparation for retirement, now may be the perfect time to take the plunge into building your dream home.
Current Mortgage Rates
Whether you are looking for a fixed-rate or variable-rate mortgage, current rates in Manitoba are at an all-time low, meaning it is the perfect time to buy. If you’re looking for a fixed-rate mortgage with a five-year term, rates are ranging from an impressive 1.64 – 3.19, depending on the banking institution you choose. Not only will this save you money over time, but you can also look forward to the immediate benefit of a lower mortgage payment overall in comparison to the amount of interest you would pay with a higher rate.
Another benefit to lower mortgage rates is the increase in your buying power. Because less of your money will be going towards interest, you’ll have a bit more room to increase your budget and get the home you’ve been dreaming of.
Housing Market Trends
Despite the current situation we’ve been dealing with, the housing market has experienced a record year in sales, even surpassing sales in 2019. Experts expect the trend to continue into 2021, meaning there are a lot of buyers on the market looking to move. For you, this means it is an ideal time to list your current home as there are many people on the hunt for their next home, and their perfect new home could be the one you’re looking to sell.
New Communities & Lot Availability
New communities are a great place to plant your roots and we build in six throughout Winnipeg and the surrounding areas. While some are further along in their development than others, all are expertly planned with family-friendly living in mind. Walking paths, native grasses and an abundance of green spaces are just a few of the amenities new communities have to offer, not to mention that each has their own conveniences to provide.
Each community we build in has a variety of lots available for you to choose from, ranging in sizes and styles so you’re sure to find something that works for you and your family.
More Time to Move
While hiring movers is always an option, you can save money by packing your belongings and moving them yourself. Now is a good time to take this on as everyone’s schedule is more open, giving you more time to organize and make the move.
This is also the perfect time to do your research and start your home-building journey. With less on your plate outside of work, you can really focus on finding the perfect home, along with all the finishing details you’d like to include.
Future Move-in Date
The building process takes approximately 10 months from start to finish, meaning if you started your home building journey now, we’d be aiming for a late fall possession. This provides the perfect timing to make your move before the snow falls, and if you have school aged children, the transition will be closer to the start of the year, making it easier on everyone.
New Home Conveniences
With a lot of us spending much more time at home, whether you are working remotely or spending your evenings and weekends in the house, we’re starting to notice the drawbacks of our current living situation. Having a room that’s solely dedicated to being a home office could now be at the top of your priority list, or you may find you and your family tripping over each other because your common spaces are just too small. Whatever the case may be, deciding to move up into a larger home with more bedrooms or versatile spaces may be just what you need. We have 20 new home plans to choose from, all completely customizable to fit your needs. You can view them here.
Quick Possession Homes
If you’re looking to move in a shorter timeframe, a quick possession home is a great option to consider. Quick possession homes, also referred to as spec homes or inventory homes, are homes that are already in the process of being built. Whether the permit has been applied for, construction has started, or the home is completed, you can look forward to a shorter amount of time between when you purchase the home and when you take possession in comparison to going through the entire building process.
There are many benefits to buying a new home, and with the way the current market is going, paired with low mortgage rates, it’s the perfect time to take the leap into the home buying and building journey. If you’d like to get started be sure to reach out to us. We’re more than happy to help with any of your needs.
Let’s get started
Ready to find your new home? Browse Our New Home Plans or contact us for more information on building with Sterling Homes