Is Now a Good Time to Build?

As we start considering or even committing to some of our more normal activities like entertaining, weekend getaways, a return to team sports, a holiday in the snow or even summer holidays somewhere in NZ, we may start considering our housing and how we might better tailor them to suit our needs.

For example, it could be that you find yourself in a situation where working from home has been a much better experience than expected, and that your employer may be requiring that you continue to do that for some time. It could be that you are being provided the option of doing so on a more permanent basis which opens up the opportunity to base yourself in a different part of New Zealand, perhaps close to outdoor activities you enjoy participating in with your family.

You may be considering the fact that extensive international travel may not be a reality for some time and a second home in a holiday destination is now a more likely consideration. Or you could be living in another part of the world and are now seriously considering making a permanent return home.

Whatever your personal situation, if you are entertaining the idea of a new build, the question you may be wondering about is: Is now a good time to build? Below are some excellent reasons why here at David Reid Homes, we think it is:

• Winter is for designing – We often have a little more time in the evenings during winter and this presents the perfect opportunity to spend time on the design of your new home. Given how our lifestyle may have changed recently, we can also spend time incorporating features that make living and working at home much more enjoyable and functional.

• Start building when its warmer - During the winter months, progress on sites can be a little slower due to reduced daylight hours, cooler temperatures and of course variable weather conditions which are not always favourable for exterior work. Starting your project now, enables you to get the design process under way and completed with a goal of starting construction during the warmer months.

• Bank Lending – With lending on property at record lows (under 3% interest) there has never been a better time to commit to a building project.

• Demand for Resources – While the NZ construction market was strong pre-Covid, and continues to be strong immediately following lockdown, the impact of Covid-19 on the supply-chain and resourcing to the construction industry, while still unknown, has the potential for material costs to increase and a reduction in available work force. Committing to your project now, gives you the security of fixing the price of your build project.

• Personal wealth – History tells us that the best time to build is now. The New Zealand economy is set to recover strongly from the impact of Covid-19 with those holding their assets in property well positioned to protect and grow their wealth.

David Reid Homes has experts around the country who can meet with you in person or virtually to assist you in getting started on your new build project. Get in touch with us today.