Building Season: New Lots and Low Interest Rates
Peak building season is here and so are new lots and some of the lowest interest rates in history. This building season is going to be one of the best opportunities in recent memory to design and build a new home. With new lots available in desirable locations and low interest rates being offered by lenders, many families are taking advantage of it to design and build their dream home with an affordable mortgage payment.
Our Casey’s Meadow subdivision has 36 new lots available which vary in shape, size, view, price, and more. Casey’s Meadow has proven to be one of the most sought-after locations to live in Oshkosh as it sits just minutes for west side shopping, within walking distance to Carl Traeger School, and near the YMCA too! There are a handful of homes under construction already and more on the way, so keep an eye on our Facebook Page and Ready Homes Page for progress pictures and virtual tours.
Now that we know there are new lots available in a great community, what about the financial side? Mortgage rates are very low right now which make building the exact home you want more affordable than ever. To provide some insight into how much money you could save by building now while interest rates are low, use the mortgage calculator below. A $300,000 build cost at today’s conservative rate of 3.5% for 30 years would result in a mortgage payment of $1,347. If you wait another year or two to build and interest rates go up to 4.5%, the very same $300,000 home will now have a mortgage payment of $1,520. Locking in this lower interest rate is a savings of over $2,000 per year or $62,000 over the life of the loan! You could pay for kids’ college or go on an annual vacation with those savings. Planning to build a home that costs more than $300,000? Those savings only get larger.
If you have been considering moving, a new home might be perfect for you and your family. Casey’s Meadow offers a variety of lots, a family-friendly environment, great schools, and a lifestyle convenience that is hard to match elsewhere. Add in the affordability of mortgage loans and you have a recipe for the dream scenario to get your dream home for your growing family. Contact us today if you would like to hear more about upcoming Ready Homes, or which lots might best fit your family’s needs.