Posted by Kari Montoya on Mar 29, 2022 8:00:00 AM

If you have the inclination to build a new home, the time to start the process is now!

Prices are rising. The Consumer Price Index climbed 7% in 2021, something unseen since 1982. The Federal Reserve is considering raising borrowing costs, and home prices continue to skyrocket due to a lack of inventory.

WHY YOU SHOULD BUILD NOW

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Pricing Forecast

Many people believe that prices will soon start to come back down, as some material costs level off. However, most experts believe that pricing will continue to rise.

“Prices aren’t going to come down,” says Josh Biggs, Senior VP of Strategic Growth. “As lumber prices came down [last summer], different materials, products, and labor prices rose rapidly, making up for the lumber decrease.”

Building is, however, where you can make a sound investment—especially with Adair Homes. Thanks to this unique economic situation, when your Adair Home is complete, a positive equity position is nearly guaranteed.

Through the decades, Adair Homes has built long-term relationships with subcontractors and supply houses like Inter-Pak Supply, resulting in a streamlined construction schedule. While many homebuilders have severely struggled to find products due to the interruptions in the supply chain, Adair has the advantage of these professional relationships, as well as 53 years of experience navigating challenging markets. 

One-Stop Shopping

Adair Homes also offers our customers the added value benefit of working with AFS (Adair Financial Services) directly, for all their financing needs. 

“The new conforming loan limit has increased to $647,200,” says Ryan Holtcamp, General Manager of Adair Financial Services. “Due to increasing costs and home prices, this increased loan limit will assist customers in securing a conventional loan, rather than a jumbo loan which would carry higher risk, costs, and interest rates.”

Working with Adair Financial Services is easy, and comes with a major advantage—your prequalification is a no-obligation assessment, and does not affect your credit score. Adair Homes believes that understanding your budget up front is both powerful and necessary! We want every Adair Home Owner to feel in control of their own finances from the very beginning.

“Our initial pulls are all soft credit pulls,” says Holtcamp. “Once the customer moves forward and has identified land, then we’ll administer a hard credit pull to move the file to the underwriting lender and issue a conditional approval.” And locking in your rates today means big savings tomorrow!

AFS is an Adair Homes exclusive lender. This relationship offers customers a one-stop-shop homebuilding experience, where transparency is key. AFS has closed thousands of construction loans for Adair Homes over the last twenty years.

“Our experience in this arena is truly unparalleled,” says Holtcamp. “We offer various loan programs, and we will work with every Adair customer to assist in credit guidance (if needed). Our team takes the customer from the initial pre-qualification all the way to funding.”

With one-close construction loans and conventional loans up to $647,200, AFS is confident they can help you get into a new home. Requirements to qualify include a 680 credit score and a minimum of 5% down (or 5% equity in the land if the customer already owns the subject property). FHA construction loans are also available, with qualifying property and credit scores of 660.

Investing in Your Future

Building a home is life changing.

Financial freedom through equity in home ownership has always been at the heart of Adair Homes. We believe in the family home as a wealth building tool, and will continue to work toward that end; helping every single one of our customers realize the dream of home ownership.

 

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About Adair Homes

With 52-plus years in the industry, Adair’s long-term commitment to treating each customer with honesty, integrity, and respect has paid off, 22,000 customers strong and counting. 

At Adair Homes, our mission states: it is our privilege to build our customers the home they have always dreamed of. We believe in providing the greatest value for our customer’s dollar and finding innovative ways to value engineer homes. We believe that we can offer an outstanding customer experience that is both enjoyable and rewarding—and offer this one-of-a-kind customer experience as the largest on-your-lot builder in the West. For more info, get in touch with us here or call 1-844-518-7072.