Stats for the first quarter of 2010 compared with the 1st quarter of 2009 show that the number of building permits taken out in the Milwaukee metro area increased by 28%. This was taken from the Milwaukee Journal Sentinel dated 5-10-10.
This increase may reflect some confidence coming back into the housing market.
Some of you may wonder if now is the time to build instead of buying an existing home. Lots of inventory, lower prices on homes plus low interest rates are very much an incentive to buy…why would you go through the hassle of building with even brand new homes being on the market at low prices?
The one answer that I came up with is that if you truly want something that is hard to find a.k.a. “a needle in the haystack”, then it may be necessary to build so that you can get the exact floor plan and/or location that you want for your new home! If this is the case, go for it! Lots are out there and builders are looking for work. Just be aware that the time factor must be taken into account when you compare building vs buying an existing home! It takes a lot of time for one to go drawing up plans, consulting with builders and picking out everything from window treatments to hardware on cabinets. Some people enjoy this however and kudos to those of you who do!
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