The Best Time to Build a New Custom Home in Tennessee


3 Facts Why NOW May Be the Best Time To Build in Tennessee


 

Published on Jul 22, 2011



This is Not Your Father’s (or Mother’s) Lending Environment

Mortgage rates are the lowest they have been in 50 years. In your parent’s time, mortgage interest was much higher and so were down payment requirements.

According to Freddie Mac’s Primary Mortgage Survey quoted in their May 2011 Outlook, “Homebuyer affordability remains extraordinarily high because of low mortgage rates and house prices that are well off their cyclic peak: The average rate on 30-year fixed-rate conforming mortgages has hovered between 4.75 and 5% for most of this year.”

Your Money Will Go Farther than it has in Ten Years
Today’s home prices are competitive with pre-housing boom pricing found a decade ago. The median price for a previously owned home fell to $156,100 in February, the lowest level since 2002 but are on the rise again to $163,700.

Professional builders, like Americas Home Place in Tennessee, are able to source the best quality materials at the best possible prices and pass that savings on to you. This is an enormous opportunity for anyone considering a new custom home in Tennessee.

You Can Afford It, More So than Any Time Since 1989
Home “affordability” is measured by a calculation called, “Price-to-Income-Ratio.” Quite simply it compares the median household income to the median housing price. Nationally that number is now at 20.9%, according to Moody Analytics. That is lower than the 15-year average ending in 2010. It is 12.5% lower than the 1989 – 2004 average.

If scary news stories have you convinced you can’t afford to build your Tennessee dream home, take out a calculator and do the math. Most people who want to build a new custom home are pleasantly surprised by the facts of their individual Price-to-Income-Ratios.

So, if you own a lot, or that perfect piece of Tennessee land –or you want to find land–but have put that custom dream home on hold, take a careful look at the facts, do some calculations, and contact Americas Home Place in Tennessee.

If you’re like many of your neighbors who have built their custom dream homes with us in and around the cities of Chattanooga, TN, Jackson, TN, Knoxville, TN, Lebanon, TN, and Memphis, TN, you might discover that it’s time to stop postponing that important dream of owning the custom home you want, the way you want, where you want it!

Source: The Wall Street Journal: June 4, 2011, “Why It’s Time to Buy”
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Americas Home Place- Tennessee Custom Home Builder

Welcome to Americas Home Place - Tennessee Custom Home Builder information page. If you are planning on building a new custom home in Tennessee, this page will show you the counties where America's Home Place currently builds in TN, with maps of each county to help you visualize the location of your new home relative to cities, landmarks and business centers in TN. This page also provides new home planners with valuable links to Georgia county information covering:
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About America’s Home Place in Tennessee

Having built thousands of homes in Tennessee, America’s Home Place has been building custom homes since its inception in 1972.

America’s Home Place has built and continues to build new custom homes in many of Tennessee’s counties, with additional reach into counties in all of TN’s bordering states.