Questioning whether it’s a good time to build or not?
A really common question at the moment is, is it a good time to build? My answer to that would be that yes, it is a good time to build if you are looking to build. What I mean by that is, if you’ve got land or you’re committed to having a new build, then I would think that you’re not really going to have a better time than now. Long term if inflation and history is anything to go by, then costs are going to continue to rise. There might be a slight decrease in the short term but I’d say other factors like interest rates are going to counteract that anyway. Now’s probably about as cheap as you’re going to have it. There’s some factors that are easing up, like there’s a lot of a downtown happening, so labor and materials and consents, things are actually starting to come back in favor of people building. If you’re looking to get a bargain, I’d say that buying a secondhand home as the the market starts to slow down, I’d say there’s going to be more opportunities for getting a bargain next year. If you’re looking to do a building project maybe you know buying a second-hand house and then renovating might be a really good idea. You’re probably going to get a more bang for your buck doing it that way. I think the stat is. that a new home costs, is it, 35 000 more on average than than a second-hand home of the same kind of size and spec. Definitely an advantage of buying second hand if you can and then renovating. That’s kind of my take on it, uh I’m not an economist, but yeah I’d say if you’re gonna get into it, get into it now. Cheers.
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