Builder’s Corner: Build it and They Will Come

There Has Never Been a Better Time to Build a New Custom Home

Did you ever notice that the most popular homes bustling with activity year-round are the ones with lots of amenities? You know the one in your neighborhood, the one with the inground pool, nicely landscaped yard, basement game room, vaulted ceilings, nice entertaining spaces with an open floor plan, fireplaces, and a custom kitchen? “If you build it, they will come.” You will be the toast of the neighborhood and possibly the envy to some. Friends and family will want to come celebrate holidays, graduations, birthdays, and milestones in life at your home because people like to recreate in beautiful spaces. It is the American dream home I am talking about and it can be yours! There has never been a better time to build a custom home either. Here is why:

Interest rates are at an all-time low and you will pay less than if you wait for the market to change. I highly encourage anyone who is thinking about building that custom home, addition, or remodeling project, to invest in your future now. A home is the single biggest investment most people will make in their lifetime. It is also the one that pays the most dividends and only increases in value and builds equity over time. Other big purchases like cars only depreciate where a home appreciates in value. Taxes are reasonable in Saratoga County because of the industry tax base. The tax burden does not fall solely on homeowners here. Therefore, homeownership is a particularly wise investment to make, given property values in Saratoga County remain the highest in the region. High property values with low taxes are a winning ticket here in Saratoga Springs.

Another reason right now is the time to build a custom home or take on the project that you have been considering, is that the housing inventory is exceptionally low. There is simply a higher demand for homes in the capital region than there are homes to sell. This also means it is a seller’s market and you will pay more for a dated home without the updated amenities you desire. No matter what existing home you end up choosing, you will most likely desire to make some major renovations to get the custom features you want. In a tight housing market, buyers can end up feeling like they settled. Existing home vs. new home means settling for choices others have made. Building a new home means you get to make all of your own personal selections. 

So, if you are thinking of building a new home contact a qualified builder as soon as possible. They will assist you with locating lots, home design, zoning laws and financing options. You could be in your custom new home before you know it! And remember, most qualified builders also do home makeovers, remodeling and renovations. 

Best wishes in your pursuit of a custom new home and/or remodeling project in 2021!

– Lou Galarneau, President Galarneau Builders