Sounds like a sales pitch, but “now” is always the best time to buy from Silverpoint Homes. Here’s why…
Interest have hovered around their historical lows for the past few years. As the economy recovers, interest rates are expected to go up by 1% or more. A 1% change in interest rate means a huge difference in buying power. On a $200,000 loan, this calculates to a $125.66 per month increase, or $1,505.52 per year, or $45,165.60 over the life of a 30 year loan. Trying to time the market to hit a low point in interest rates is impossible. A few lenders offer a rate lock which is good insurance that you will receive the lowest rate. Even just a 0.25% change means an increase of more than $10,000 over the life of the loan. This is more than any price increase we have ever implemented.
Prices Always Increase
The cost of a new custom construction home always goes up. A custom built modular home is a huge compilation of hundreds of components like lumber, drywall, siding, shingles, etc. These individual commodities move up and down regularly, but the overall long term trend is up. Once they reach a certain threshold, our manufacturers must implement a price increase. Most increases cannot be anticipated as they are often driven by natural disasters that disrupt the supply and demand. These price increases are not a few hundred dollars. The typical increase in retail price of a home is 2 - 5%. In our 18 years of operation, we have never seen a manufacturer price decrease. We have seen years with no changes and some years with multiple price increases.
Prices Can Change Overnight
The price increases that are implemented are typically a two week lead time notice. It is not possible to obtain a loan and actually make a purchase in that timeframe.
Silverpoint Homes Builds Year Round
A tremendous advantage to modular homes is that they are built inside a climate controlled environment and are mostly complete when set on the foundation. This means that we can build year round. Silverpoint Homes only needs a few good weather days to complete the foundation and to crane set on the foundation. There is no need for a romantic vision to build a home in the summer. In fact, summer can be more challenging for good weather due to thunderstorms. Let us worry about the weather.
Silverpoint Homes offers the Best Price Every Day
Each home is custom designed and custom built to each customer’s unique requests. This is very different than having inventory on hand to sell. In this respect, it does not make sense to have discounts or huge incentives when each unique home has defined costs for materials and labor. We believe it also adds stress to the buying process. We give each home the best price every day.
Many customers report to us that their new, larger home saves at least $25-$50 in utility bills. In a few cases, the winter utility bill is down over $150. Modular homes are much more energy efficient than a traditional site built home. Modular homes are built inside out – meaning drywall is installed before the exterior sheathing and siding. This allows for every penetration point of electrical and plumbing to be foam sealed for air leakage.
Put this all together, NOW is always the best time to buy a home from Silverpoint Homes.