If you have been thinking about financing construction of a custom home or a remodel of your current space, you may have asked yourself: Should I wait?
Between fluctuating interest rates and ongoing conversations about the economy, it can feel safer to press pause. But in many cases, waiting does not reduce risk. If anything, it can increase the overall cost of your project while putting your plans for a better, more functional home on hold.
To get a clearer picture of what is actually happening in today’s lending landscape, we spoke with Paul Heathman, Assistant Vice President and Mortgage Loan Originator at Asheville-based HomeTrust Bank. His advice is straightforward: focus less on trying to time the market and more on what makes sense for your life right now.
Why Waiting to Build or Remodel May Cost You More
It’s easy to assume that waiting to build or remodel will put you in a better financial position. A lot of people are hoping interest rates will drop or that the other economic factors will shift in their favor. But in reality, construction costs tend to move in one direction, and that’s up.
“We don’t think land around Western North Carolina is losing value, and we don’t really think that materials or labor are going to get less expensive,” Heathman says.
Even if interest rates improve slightly, rising material and labor costs can offset those gains. Over time, waiting often results in a higher total investment, not a lower one.
Interest Rates Are Only Part of the Equation
Interest rates tend to dominate headlines, but trying to hold out for the “perfect” rate can leave homeowners stuck in limbo.
“If you wait for rates to fall, you could wait forever, and they never fall,” Heathman explains. “Or, you could move forward now and refinance later if and when rates do come down.”
That perspective shifts the conversation. Instead of treating today’s rate as a make-or-break decision, it becomes one piece of a larger, more flexible plan. People planning to do a remodel or build a home can start their project, settle into a home that fits their needs, and begin building equity sooner rather than later. If rates improve down the road, refinancing offers a clear path to adjust.
The Right Partner Makes All the Difference
At the end of the day, deciding to build or remodel is not just about timing the market—it is about having the right team in your corner.
At Scroggs Construction Services, we keep costs clear and transparent from the start. Early in the process, clients can choose between cost-plus and fixed-price contracts, depending on how they want to approach their investment.
Cost-plus offers full transparency into labor, materials, and subcontractor costs, along with the flexibility to make decisions as the project evolves. Fixed-price provides a clearly defined budget, giving homeowners more predictability and fewer financial unknowns.
Just as important, these conversations happen up front. Before construction gets underway, the Scroggs team takes the time to align your goals, budget, and expectations, so you can focus on what matters most: creating a home that works for your life.
Move Forward with Confidence
At Scroggs Construction Services, we help homeowners across Western North Carolina turn ideas into thoughtfully designed, well-built homes. From early planning through final construction, our team brings clarity, experience, and a steady hand to every step of the process.
If you have been thinking about building or remodeling, now is the time to explore what is possible. Reach out today to take the first step toward a home that truly fits your life.