The St. George real estate market is booming with no signs of slowing down any time soon, thanks to historically low mortgage rates, a strong economic recovery after the COVID-19 pandemic and increased remote work opportunities.

As of July 2021, the Utah housing market is the top housing market in the nation. With rising numbers throughout the state's job sector, low unemployment, low mortgage rates, few mortgage delinquencies, and low state and local taxes, it is no surprise why many now call Utah 'home'.

The job landscape in Utah is also one of the best in the country. Over the last decade, the state has held the top spot for the fastest-growing job market in the country. While the employment sector surged, it brought new residents with it.

During that same time period, Utah's population increased by 18.4%, making it the fastest-growing state in the US. One look at southern Utah's beautiful desert landscape, natural amenities, and growing infrastructure, and you will quickly understand why so many people are making a move.

As many families choose southern Utah to lay down their roots, Dennis Miller Homes, a leading home builder in southern Utah, is here to not only find you a house but a place that you can call home.  

Our team offers a custom home-building process that ensures you build a home with all of the functions and features you need to know that you made the right choice. To help you get a jump start on building your dream home, we compiled a list of five must-haves that every southern Utah home needs. Here is what you should know:

Your Custom Home in St. George Needs These Features

Home Lots For Sale in Washington County

We all know the saying, "Location, location, location." But how does that apply to you? Location will determine not only where you live, but how you live, from your kid's new school to commute to nearby amenities and more.

As a southern Utah custom home builder, we know a thing or two about how a location can affect your home-building experience. We believe that choosing the right place to build is just as important as what you choose to build. Many homebuyers who work with a custom builder already have a site where they plan to build their new place. However, other buyers would prefer an expert to guide them through the site selection process.

Whichever category you fall into, Dennis Miller Homes can help. We can partner with you no matter where you are in the home-building process.

If you haven't found a home lot for sale in St. George yet, here are a few things to consider when selecting the best location to build your new home in St. George, Utah.

  1. Topography of the Land

No matter where you build, your home needs a solid foundation. Look for properties with sturdy soil that you won't need to spend a fortune to make structurally sound.

It might be as simple as pulling up the site's address on the Federal Emergency Management Agency's website to find out about topography and other crucial information at FEMA.gov. You can also send a sample of the soil to an expert for a soil test or ask the seller to provide the information.

Another consideration you will need to make when selecting a site to build your home is installing utilities, plumbing, electrical wiring, and other crucial home systems. If you are looking at land for sale in Hurricane or other locations throughout southern Utah, you might want to consider the location of a septic tank. If you need to install a septic tank, the property must pass a perc test (or perk, short for "percolation") to ensure that the soil is suitable.

  1. Views

How you plan to orient your home also matters. As you explore different properties, imagine how you will design your home to capture the best views. Familiarize yourself with the entire property before making your final agreement to purchase. Many new home buyers don't take enough time touring the entire property before buying. Don't make this mistake. Instead, do the work ahead of time to ensure that you buy a piece of land that you love and where you can capture southern Utah's amazing vistas and red rock views.

  1. Future City Plans

Along with touring the property and knowing the land, you should consider how the neighborhood will look five or ten years in the future. St. George is growing rapidly, and many locations don't look like they did a year ago. You may love a rural property today without realizing that a developer is building a new commercial complex down the road. While you can't know exactly what will happen in the future, if you get as much city planning information upfront, you can create a custom home that will still be your dream home in 15 years. 

  1. Family-Oriented Environment

It is no surprise that where you choose to build will impact your kids. Costs of homes aside—do everything you can to make that impact positive by looking for properties in locations that boast a family-friendly environment. Consider school zones, parks, hiking and biking trails, libraries, and other important environments. You can spend your time looking online for information about the area or walk the neighborhood, asking people for insider information, like religious communities, number of kids in the area, school districts, sports, and more. This first-hand information will provide great insights into how people live in that area and whether it would be a good choice for your family. 

  1. Ask an Expert

Along with talking to people within the community, ask your custom home builder where people want to live in southern Utah. Our team has years of experience building homes in various areas throughout St. George. From Bloomington Hills to Washington City, we know who is moving and whether you would be a good fit. Together, we can find a site that would be the perfect spot to build your custom home.

 

Build A Custom Home That Matches Your Lifestyle 

Home-building isn't about keeping up with the Joneses anymore. Now, buyers want to create spaces where their families can thrive. Leave behind the extravagance of the 1990s and early 2000s. Instead, design a home with enough space to be comfortable, rather than enormous, extravagant rooms that you will end up leaving empty. 

To implement functionality into your custom home-building process, design a practical home that matches your lifestyle. Your home should work for your family, not against it. Consider what everyone in your family needs on a day-to-day basis. How many family members will be living in your new home? Do they work, go to school, have extracurricular activities or hobbies? How many bedrooms will you need? Bathrooms? Does your family spend a lot of time in the kitchen, watching television together, or outside?

Assessing all of your basic needs first will ensure you build to scale rather than building a home that has too much space for your family to use. However, it is important to include a few 'dream' items where you can. What are the key features that you always wished you had in your home? A butler's pantry? Five-car garage? Theater room?

Once you design a home based on your basic needs, then you should incorporate these big-ticket items. Plus, you will know upfront which features will fit your budget or if you should focus on the areas your family needs to function. If you have to leave some of the fun features off your dream home blueprint, talk with our custom home builders. We have a knack for finding a way of making it work, whether that is opting for a big flat-screen television instead of a dedicated home theater or scaling down to four bedrooms instead of five.

Our St. George custom home builders are committed to providing our clients with full transparency throughout design and construction. We also care about helping you stay on budget, which is why we bid our projects "long-hand." To help you navigate your budget, we will present you with several options in your price range. Then, you will know whether the choice you are making is within your budget or if you will splurge to get the exact home feature you want.

Whichever option you choose, we will offer our honest advice, letting you know which is best for your budget and lifestyle. It is your home. Let us give you the tools you need to design a home that makes your life easier, more comfortable, and has everything you want and more.

 

Indoor-Outdoor Home Design

Southern Utah is known for its unique weather patterns and desert climate. You don't want to build a home that removes you entirely from the beautiful outdoors. Instead, find a way to make the outdoors part of your indoor living space.

Custom Utah Home Builder in St. George | Dennis Miller Homes

There are a few different design tricks that you can implement to accomplish indoor/outdoor living—for example, large pocket doors. These massive doors sneakily slide into the wall, eliminating the wall standing between you and your backyard. It takes open concept living to the next level. Once you want to make your home itself again, simply pull the pocket doors back to their original position.

Another option to maximizing indoor-outdoor living is installing large windows throughout your home. These windows will allow expansive views of the outdoors and let in floods of natural light. Windows also reduce your need for artificial lighting and make the room appear bigger. It is a win-win for everyone living in your home.

Plus, your indoor house plants will thrive in a sunny environment, which will improve your indoor-outdoor lifestyle. 

 

Incorporate Flexible Space Into Your New Home

Flexible Space in A Custom Souther Utah HomeAs you build your new custom home, you should also implement a few flexible spaces into your new design. Today's homeowners prefer spaces that function in multiple ways rather than dedicated rooms that only work for one use.

On the other hand, flexible spaces give you the room you need to transform the space depending on your family's current and future needs.  For example, a space that you can use as a guest room, a home office, a playroom, or a craft area. These flexible spaces work well in the current remote work environment. As you work from home, you can convert your extra room into a home office during the day, gym in the morning, and playroom at night. And as a bonus, your home office can potentially provide extra tax credits, depending on your situation.

Whatever you need, a custom home design will ensure you have the space you need to build a home where your family can not only grow but thrive.

 

Mother in Law Apartment or Casita

Custom Homes with Mother In Law Apartments | Dennis Miller HomesOne of the main features St. George homebuyers look for in a new home is a mother-in-law apartment or casita. Casitas or mother-in-law apartments, also known as guest houses, are separate dwelling units (ADUs) from the main house. These separate living areas work well in southern Utah because it is a prime vacation spot for many northern Utah residents. Such a feature can be useful if you have an older parent who comes to live with you, an adult child who needs to move back home, or simply if you want to provide comfort and privacy to out-of-town visitors.

In the meantime, you can also use this dwelling as a separate home office, studio, or pool house. Another option that many St. George homeowners with casitas enjoy is listing the guest house on Airbnb to earn extra income during peak vacation seasons.

While this feature isn't always a top priority for many new homebuyers, it quickly becomes a favorite once they understand its versatility. If you are interested in including an ADU in your custom home design, speak with our southern Utah home builder. We will provide you with valuable insights, including how much it costs to build a casita.

Together, we can make the best choice for your new St. George home.

 

Southern Utah Custom Home Builders at Dennis Miller Homes

Whatever feature you choose to include in your home, partner with Southern Utah custom home builder Dennis Miller Homes. We take the stress and anxiety out of house construction by maintaining the integrity of a family name for over 35 years. Call us old-fashioned, but we still believe in the core values of every successful business: honesty, openness, and real concern. As one of the top custom house builders in St. George, we commit to you and your home every step of the way!

Allow us to put our experience and knowledge to the test as we design and build a custom home in a prime location, matches your lifestyle, maximizes indoor-outdoor living, has flexible space, and has a separate guest house. However, we understand that while these features are key for many southern Utah buyers, every customer has unique requirements. No matter your needs, we are prepared to satisfy them by customizing a home just for you.

Schedule a free consultation today to get started building your new custom home.

 

Buyers looking for a new home often ask, "How much does it cost to build a custom home?" The cost to build a custom home depends on a range of variables, including the specified location, size of the home, and more. Although many people confuse custom homes with multi-million dollar McMansions, building a custom home means choosing your price.

HomeAdvisor estimates that a custom home can cost anywhere between $350,000 to over $1 million. At Dennis Miller Homes, we tell our clients there is no firm price on building a customer home in St. George, Utah. Instead, our custom home building process allows you to customize your home and budget.

Because you decide which style, features, and amenities you want in your home design the total cost of those will depend upon your selections.

When you work with us, our home builder in St. George, Utah will work with you to set a comfortable budget, whether $400,000 or $2 million.

Our team will present you with a proposal at the beginning of the building process that includes a long-hand bid. This bid will have several different allowances to give you an idea of how much money you will pay depending on your home design.

For example, the long-hand bid often includes an appliance allowance. If you don't use your kitchen as often as other areas of your home, you might decide to install appliances that aren't as high-grade as we included in the bid. On the other hand, buyers who enjoy cooking might want to upgrade their kitchen appliances.

Based on your decision, you can update your budget to reflect how much money you spent on that allowance. Then, you can decide to allocate money from a different allowance or adjust your final budget.  

No matter which option you choose, our team will be by your side to regularly update you on where your money is going. We want you to stay informed throughout the process to make design choices to help you reach your end goal.

Average St. George Custom Home Cost

Unlike quick builds, prefabs, or used homes in St. George, custom homes are original designs informed by our clients.

Dennis Miller Homes' custom home-building services will help you build a home that reflects your lifestyle and budget. Working with our St. George custom home builder, you will be guided through every step of the design and construction process. 

You will select everything about your new home, from the location to the floor plan to the finishing touches by collaborating with our design + build team. Before you begin the custom home building process, to ensure you understand the cost of building your St. George custom home, our team has outlined a few variables that may affect the final price.

Let's discuss.

Factors that Affect the Cost of Your Custom Home

The Current Market

The current real estate market can dramatically affect the cost of your new home. If homes are selling at a higher price, you can expect to pay more to build a custom home. If the market is low, you might pay steady or, even, discounted prices. 

Other market factors that come into play when building a custom home are lumber or other material costs. The laws of supply and demand means that prices sometimes fluctuate.

It is up to you to decide when it’s the right time to build a custom home.Some homebuyers have a flexible timeline while others must begin the building process immediately. Our team will work hard to meet your timelines and ensure you get the best price for your custom home. We are on your side. 

Custom homes come with a custom price tag. No matter the current standing of the Utah real estate market, there are always benefits to building a custom home, including:  

Location

Although the estimate for construction in the United States is $150 per square foot, that cost fluctuates depending on where you build. For instance, the construction costs for building a custom home in St. George, Utah, are vastly different than they are in Los Angeles, California, or even Salt Lake City, Utah.

The price discrepancy is due to changes of the price of materials, building permits, labor, and other fees by location. No matter where you build, there is always a potential for unforeseen costs. For example,  rocky surfaces require special machinery to remove, which may affect your budget. 

Our team will analyze potential build sites to provide you with an estimate and alert you to any factors that may increase your costs.

Project Scope

Another location factor that impacts price is the project scope. The size of your custom home will directly impact the cost to build it. Generally speaking, increasing the size of your home or the amount of work that it will take to build your home will increase the total project cost.

If you choose to build your custom home on a lot with sloping, you will pay more for grading, foundation work, and retaining walls. If you select a large lot, you may spend more money on landscaping. Other factors may include adjustments for water table levels, reclamation needs, and tree removal.

When you choose the right custom home builder, you can collaborate and agree on a project scope that fits your budget.

Complexity of the Design

How much design work your custom home requires will affect the final cost of your project. For example, if you need a fully customized home plan drawn up by our team, it will cost you more than if you were to alter a replicated design. At Dennis Miller Homes, we offer it all.

Our three-tier design model ensures that you have the home-building services you need to fit your budget.

Specifications

The major advantage of building a custom home is customizing your design. As discussed earlier, your specifications determine the cost of your new home. You will spend more money on larger homes with luxury finishes than mid-grade finishes in a mid-size home. The cost is up to you.

Installing optional features in your custom home will also drive up the cost. One feature that many St. George homeowners love to install in their custom home is an outdoor pool.

While swimming pools are fantastic in a hot location like southern Utah, installing a pool will cost you more money. The variations on swimming pools range from custom designed pools vs. prefabricated liners, hot tubs, fountains, stone and concrete work, slides, or diving boards. 

Our design + build construction team can estimate the cost of your planned outdoor swimming pool in the original bid for your custom home. Together, we can determine how to design a custom home that includes all of your wishes for the right price.  

Other Factors To Consider

Along with the typical construction costs, there are a few more factors that will affect the final cost of living in your custom home. Some overlooked items are landscaping, fencing, and furnishings. 

In addition, a custom home requires having some maintenance items on hand. For many first-time homebuyers, these can be a surprise. Ladders, garden hoses, lawnmowers, and other tools for your home’s daily maintenance and upkeep come with a price tag.

Once you’ve built your beautiful new dream home, you’ll want to decorate it with furnishings that compliment the space and match the finishing touches in your home. Furniture and other home decor can be an added expense.

Landscaping around your custom home may also cost more money than you might expect. Many buyers have an idea of what the exterior of their home will look like but forget to budget for a sprinkler system, sod, plants, trees, and bushes, and outdoor furniture.

Our Dennis Miller Homes design team can work with you to create an allowance for every aspect of your new home, including interior design and landscaping.  

Cost of Custom Home Building at Dennis Miller Homes

Although building a custom home doesn't include a straightforward price tag, working with the right builder will allow you to comfortably stay within your predetermined budget. Let Dennis Miller Homes be your constant throughout the custom home building process.

Our St. George custom home builder offers complete cost clarity to our clients. In the beginning stages of building your custom home, we will draft a long-hand bid that includes approximate project costs.

Then, you can shop around using the allowances that we decided on together. We will provide complete transparency, so you know where every penny is going towards your new custom home's cost.

Trust our home builders to ensure your dream home fits your budget.

Build your dream home in St. George, Utah, by contacting Dennis Miller Homes today.

Building a dream home takes a lot of work. Building one in St. George, Utah, requires the expert hands of a custom home builder. Right now, southern Utah is one of the leading places to build a new home.

The current housing market is expanding at an alarming rate, with buyers coming to St. George from all over the country. If you are looking into what is available, now is a great time to make your dreams come true with a custom home builder.

Custom homes are exactly what the name implies— custom. Custom home builders bring your dream home to life. Unlike tract or spec builders, who only have the capacity to allow a few personalized touches in a home's design, custom builders have the experience and options available to fulfill your every wish.  

Everything from the location of your new home to the type of floor plan you use is up to you. Your southern Utah builder will work closely with you to take the vision you have in your head and translate it into a real-life masterpiece. 

You can partner with a builder at any time during the beginning stages of the process before selecting a lot or after you hired an architect or designer. Then, once you purchase a lot, your builder and designer can work together to design plans that fit the lot and achieve your project goals.

While choosing the right custom home builder is an important step in the home building process, it can also feel like a daunting one. The experienced team at Dennis Miller Homes put together a guide to ensure that whichever decision you make is the right one. 

Follow these steps to choose your St. George custom home builder confidently.

 

How to Choose a Custom Home Builder

Start Researching

The first step to finding a home builder is by creating a list of potential builders. You can start your search by...

Once you have a list of prospective home builders, you can start narrowing down your options by reading client testimonials and reviews posted online. Reviews can give you a clearer understanding of how a home builder operates.

As you read, assess every review, whether it is good or bad. You can also contact any reviewers who left their information. Ask them about their experience and whether they would use the builder again.

Narrow Your Selection to Two or Three Builders

Working off of your previous list, begin to reach out to custom home builders. You can start by submitting forms on the builder's website, contact page or placing a phone call directly. 

In your first initial conversation, test the waters. Begin to understand how the builder communicates with their clients. Do they seem friendly? Do they have experience constructing the type of home you envision building? 

It would help if you also asked about their current availability. Do they have a schedule opening that fits your timeline? How long does their typical home-building process take? If your timelines don't align, ask them for outside references that might. Or, if the builder seems to fit your criteria, arrange a time to meet face-to-face. We recommend meeting with two or three builders before settling on your top choice. 

Meet Face-to-Face 

The first meeting with your future custom home builder is crucial. It will set the tone for your entire experience. Since the custom home building is a more intimate process, it will require extensive collaboration between you and your builder. You need to assess your compatibility with each candidate to determine which option is your best choice.  

Remember— you can never ask a home builder too many questions. Communicate what you need and ask them for thorough answers. Get as many specifics as possible. Never hesitate to ask for further clarification. What seems insignificant might end up being an important detail to inform your final decision.

You can also ask prospective builders about their experience, whether by looking at their luxury home project gallery or visiting their recently built homes in person. As you look at previous builds, look at the quality of the work. Inspect the trim, carpeting, architectural features, and more.

Then, ask the builder for additional references and contact information. These references will provide honest insights to help you make your final choice.

In our How to Choose a Custom Home Builder blog post, we highlighted a few other questions you can ask previous clients when you contact them, including:

  1. Are you happy with your new home?
  2. Did you enjoy working with your builder?
  3. What would you say are their strengths?
  4. Was your project finished on time? If not, what were the reasons for delays?
  5. Did the builder communicate the schedule?
  6. Did the builder ask for decisions on time?
  7. Did you feel your original budget estimate was thorough?
  8. Did the project finish within the predetermined budget? What were the reasons for overages?
  9. Were your project's finances clear and transparent?
  10. How did the builder react in stressful situations?
  11. What role did the builder take once the project began?
  12. Who specifically worked on your project? Who would you request if you were building again?
  13. Was the project clean and organized?
  14. Were there certain subcontractors on your project that you would strongly recommend or avoid?
  15. How has the builder responded to warranty issues since you moved in?
  16. If you were building another home, would you choose this builder again?

Choose Your Builder with Confidence

The most successful course for a St. George buyer building a custom home is to choose the builder you will be working with and work closely with them to acquire a lot and create a design to build their dream home. Luckily, after following all these steps, your final choice should have the experience, references, and compatibility you need to move forward with confidence.

St. George Custom Homes from Dennis Miller Homes

Dennis Miller Homes is a premier home builder in St. George, Utah, with over 35 years of experience. We offer buyers the red carpet experience, from architectural design to the final walk-through. Our team is committed to quality work and an exceptional home-building process. Together, we can create a southern Utah home that is functional, affordable, and luxurious.

As a family-owned and business, we care about our clients. We are passionate and dedicated to creating amazing experiences. When you move in, you can expect to be excited about your home yet sad that the home-building experience is over.

Choose Dennis Miller Homes to ensure that you and your custom home matter. Trust us to deliver home-building services designed to meet your needs. Contact us to schedule a consultation.  

Right now, people are moving to St. George and surrounding areas at a rapid pace. The current real estate market is booming with many buyers and a low inventory of homes. Many buyers place bids on homes that aren’t quite what they had in mind but make plans to renovate. Others bid on their dream home, only to lose out to a more qualified buyer. Although the current housing market conditions can be frustrating, they can also motivate you to consider purchasing a lot and hiring a custom home builder to create the home that fits your lifestyle. 

Building your dream home in St. George, Utah is an exciting prospect. Before building a custom home, you might curate inspiration boards, drive through neighborhoods to find potential lots, and daydream about open floor plans and beautiful interiors that cater to the lifestyle you want to live.

Working with a custom home builder not only ensures a beautiful end product but a memorable home building experience. You will handpick every detail of your new home, putting together the pieces of the puzzle that creates a space that is entirely your own. 

Selecting the right custom home builder is an essential step in the home-building process. Custom home builders provide the tools, techniques, and experience that a home buyer needs to build their dream home. From lot selection to design to construction, custom home builders are involved in every phase of the home building process. To ensure that every square foot looks like you envision, you and your selected custom home builder must communicate effectively, share budget restrictions, and set realistic deadlines. An experienced custom home builder will be proactive and reactive to your needs throughout the home build.   

To help you decide whether building a custom home is the right choice for you, Dennis Miller Homes curated the top benefits of working with our St. George home builders.

Custom Living Room in Southern Utah Luxury Home Build

Advantages to Hiring a Custom Home Builder in St. George

Endless Options

Unlike buying a pre-built home or working with other home builders that have little leeway in design styles, custom home builders offer total customization. Your options are endless and restricted only by your budget, your vision, building codes, and the lot’s parameters. 

Your custom home builder will help you design a home down to the last nail. Do you like marble countertops or granite? Would you prefer a two-story home or a rambler? Will you build a casita on the side of your home for added square footage or keep everything connected in one space? 

Together, you and your St. George home builder will choose the layout, exterior features, flooring, window treatments, lighting, and more. You can draw upon your builder’s experience in interior design and architecture to create a cohesive and pleasing layout that matches your aesthetic. 

As Southern Utah's premier home builder for over 35 years, Dennis Miller Homes offers southern Utah homeowners a unique and personal experience with endless options and opportunities. Our team understands that the difference is in the details. It's our promise and commitment to deliver an exceptional custom home with an exceptional customer experience.

 

Find the Right Location

Since you have endless options when working with a custom home builder, you also get to choose where you build. You can select a lot from the curated list provided by your custom home builder, one you already own, or a lot that you find with your real estate agent. 

Part of the Dennis Miller Homes process includes planning your land purchase and applying for required permits. Early on in the process, we will analyze your lot (or a future lot) and present you with the opportunities available. 

As we go over your lot options, we will discuss your wants, needs, and dislikes as well as the square footage it will take for your family to live comfortably. 

 

Improved Design

When you build a custom home, you are involved in all aspects of decision-making. Instead of buying a home with an old layout or a prefab home with a semi-custom design, a custom home gives you the control you need to maximize the functionality of your new space. 

From open-concept living to individualized details, whichever home plan you design will focus on features that best fit your lifestyle and needs. It is your home-- why not be in charge of what you create? 

As your St. George home builder, we will listen to your goals, hopes, and dreams while ensuring functionality. Do you need a large living room for entertaining but don't want to lose out in other areas? Let's design it. Our team will get creative to give you the dream home you want while ensuring the design works perfectly for you and your family. Whatever choices you make, Dennis Miller Homes will be on your side to make it happen. 

Luxury Living Room with Custom Indoor Fireplace and Dining Area - St. George Custom Home Design

Budget Control

Many people believe that building a custom home will drain their budget, which isn't necessarily true. Unlike other home types with fixed price tags, custom builds come with a custom budget. You decide what you spend your money on and how much is spent. 

Fortunately, the home building market offers various products with a wide price range to select from. Communicate with your custom home builder to discuss where you want to spend your money and where you want to save. For example, you can minimize spending on lighting and window treatments to cover the costs of a luxury kitchen. 

Dennis Miller Homes is committed to full transparency and doing our part to help you stay on budget. We bid your project "long-hand" so there are no surprises during construction. We help you navigate your budget by presenting you with several options in your price range and keep you in line when you choose to splurge to help you stay aware of how much you are spending. 

 

Enjoy the Home Building Experience

When selecting a home builder, it's vital not only to find one that can capture your vision and execute it with exceptional craftsmanship but to provide the ultimate building experience. The home building process can be challenging, but having a builder that cares will go a long way. Choose a custom home builder that cares about building relationships.  

Your custom home builder is there to help you create your dream home. If you feel that you are compromising on anything, work with your builder to get it right. Having open communication will ensure that every stage of the home building process goes flawlessly.  

At Dennis Miller Homes, we keep our lines of communication open and honest. Doing so will build trust between our team and you. Together, we can create a rewarding home building experience. 

 

Custom Home Builders at Dennis Miller Homes

Call us old-fashioned, but we still believe in the fundamental qualities of any good business: honesty, communication, and genuine care. Having maintained the integrity of a family name for more than 35 years, we take the stress and frustration out of the home building equation. As the leading St. George custom home builder, Dennis Miller Homes is dedicated to you and your home every step of the way!

Let us put our experience and knowledge to the test as we bring your dream home to life! Every client has different needs, and we are equipped and ready to meet yours by creating a home designed just for you.

Schedule a consultation to get started building your new home.

The last few weeks there has been quite a buzz surrounding the Federal Reserve’s decision to increase the Fed Rate. On March 15, 2017, the Federal Reserve (The Fed) increased their target rate from a range of .5 to .75 percent to a range of .75 to 1 percent. This is the third time the Federal Reserve has taken such action since the housing crises of 2008. Many people are left with certain questions such as: what exactly is the fed rate? What does this mean for me and my family financially? How does this affect my ability to buy a home? With all the uproar, and the pain of 2008 fresh in our memories, it can be unsettling if we aren’t clear about the issue.

So let’s bring some clarity.


What Exactly is the Fed Rate?

An article posted by Forbes provides a great definition to what exactly the Fed Rate is.

“The federal funds rate is a benchmark interest rate that determines how much it costs for financial institutions to lend to one another. When the rate rises, so does the cost of borrowing for banks. They may in turn pass their higher costs to consumers in the form of increased interest rates on credit cards, auto loans, mortgages and other types of financial products.”

Viewing the Fed Rate as banking institutions’ cost of doing business can also be helpful. Banks are in the business of lending money and charging an interest rate. Like any business, when their cost to provide that service goes up, it usually trickles down to the customers.

Why Would  The Fed  Raise Rates?

The Federal Reserve was created by congress to help keep the US financial system safe, flexible, and stable. In an attempt to curb inflation, The Fed typically will increase the Fed Rate when the economy is showing sign of growth and strength.

The recent cause for the Fed Rate hike was no different. Because the economy is showing strong employment rates, economic growth, and market confidence The Fed deemed it necessary to raise rates. Overall, this is a good sign for the strength of the US economy.

How does the Fed Rate Affect Me?

Typically, a rise in the Fed Rate means a rise all other interest rates associated with lending institutions. Most banking instruments that have a variable interest rate will see a rise in that rate. These instruments include credit cards, personal lines of credit, and home equity lines of credit.  Also, saving accounts will usually see an uptick in the interest being paid out to them.

What About Buying a Home?

One of the other major lending instruments that the Fed Rate hike affects is mortgages. Mortgage rates, like other lending instruments, are typically tied to the Fed Rate. Consequently, the rates on mortgages will very likely be going up.

Although a rise in mortgage rates may mean that your dollar today will buy you less house than it could yesterday, interest rates are still at historic lows.  There are still plenty of opportunities to get into a custom home of your dreams at an affordable price.

There have been many reports that The Fed could increase rates three to four more times this year. Therefore, the sooner you can get your finances in order and start building a home, the better.


What are You Waiting For? Design Your Custom Home Today!

-House at a Glance-

Location: Custom home in Highlands at Green Valley, St. George
Finished Size: 2,589 Square Feet
Garage: 920 Square Feet
Layout: Four bedrooms, two and a half bathrooms
Status: Currently Available

Rock work on the front of a custom home built in southern utah
 
beautiful modern desert kitchen with island counter in Southern Utah Half bath with dark cabinets in custom home in St. George Bathroom cabinets and mirror in custom Southern Utah home master bedroom in custom home built in St. George Utah custom home in southern utah living room with coffee table and white couch modern custom living room with white couch and ceiling fan in St. George Utah modern kitchen in Southern Utah with glass pendant lights

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