Building a home is one of the biggest investments you'll make, and choosing the right lot is a crucial step in the process. While it may seem like a simple decision, there are many factors to consider to ensure your lot meets your long-term needs and preferences. Here's a breakdown of key aspects to keep in mind when selecting the perfect lot for your new home.

Researching Available Lots

When building in a new construction neighborhood, start by checking the builder's website. Many production builders provide online maps showing available, reserved, and sold lots. This can give you a head start on finding a lot that fits your criteria before physically visiting the site.

Lot sizes can vary significantly. In our neighborhood, lots range from 0.3 to 0.7 acres. While a larger yard would have been ideal, purchasing private land for a custom build was beyond our budget. Knowing the trade-offs between space, cost, and location is essential in making an informed decision.

Considering Location and Privacy

Your lot's location within the neighborhood can impact your daily life. We preferred a lot further from the main entrance to minimize traffic and noise. Additionally, we didn't want a backyard that directly met another neighbor's property, as privacy was an important factor. Fortunately, a lake behind our home provides a natural buffer, enhancing both privacy and the view.

If privacy is important to you, consider:

• Whether the lot backs onto another property or a natural feature (such as a lake or greenbelt)
• The proximity to busy streets, playgrounds, or common areas
• The overall traffic flow within the neighborhood

The Importance of Lot Orientation

Sunlight exposure can affect the comfort and efficiency of your home. A north-facing lot was ideal for us because it ensures that the main living spaces (living room, kitchen, dining area) receive plenty of natural light throughout the day. If you spend a lot of time in your backyard in the evening, you may prefer a west-facing lot to provide shade at sunset.

Climate considerations also matter. In snowy regions, driveways and walkways on the north or west sides of a home will take longer to melt, which could require additional maintenance.

Ensuring Home Fit and Compliance

Before selecting a lot, confirm with your builder that your desired home design will fit within the lot's dimensions and restrictions. In our case, we initially considered a neighboring lot but realized our preferred floor plan with a side-loading garage wouldn't fit. Knowing these constraints ahead of time saved us from potential disappointment later.

Additionally, some neighborhoods have restrictions to prevent identical homes from being built too close together. For example, in our community, the same elevation cannot be built directly next to or across from another home with the same design. Builders may also require variation in exterior finishes, such as brick or siding color.

Checking Easements and HOA Guidelines

Many lots come with easements, which grant utility companies access to certain sections of the land for infrastructure maintenance. In our case, we have a 25-foot yard with an additional 45-foot easement leading to the lake. Permanent structures cannot be built in the easement, limiting how much of the yard can be used for features like decks or patios.

HOAs may have specific guidelines regarding easement use. Some allow fences within easements, while others do not. Before finalizing your lot selection, contact the HOA to clarify any restrictions that may affect your plans.

Walking the Lot Before Purchase

Online maps and blueprints only tell part of the story. Walking the lot in person gives you a real sense of the space, elevation, and surroundings. We visited our lot multiple times, taking pictures from different angles to better visualize how our home would fit. Keep in mind that elevation changes can affect sightlines and drainage, which could impact landscaping plans in the future.

Reviewing the Lot Survey

Once you choose a lot, you should receive a lot survey from the builder. This document outlines key details such as:

• Lot lines and measurements
• Easements and restrictions
• Topography
• The proposed placement of your home

Different lot types may be available depending on the neighborhood's topography:

• Walkout: Full-size basement windows with a door leading outside
• Lookout: Full-size basement windows but no direct outdoor access
• Standard: Small egress windows in the basement

Understanding these differences will help you determine which lot type best suits your needs. Selecting the right lot requires careful consideration of location, privacy, sunlight exposure, and HOA regulations. By researching available options, verifying home compatibility, and walking the lot in person, you can make a well-informed decision that enhances both your lifestyle and investment. Taking the time to plan now will ensure you enjoy your new home for years to come.

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Just like fashion, food, and hairstyles, home and garden design trends evolve over time. While some trends inspire nostalgia for the past, few have stirred as much reaction as Pantone's 2025 Color of the Year—Mocha Mousse.

The Controversy of Mocha Mousse

Pantone describes Mocha Mousse as a "rich, warming brown shade" with "the comforting qualities of coffee and chocolate" and "a touch of glamour." However, many designers and consumers have likened it to less flattering comparisons. Celebrated New Orleans exterior color consultant and interior designer Louis Aubert dismisses the shade as "bland" and "tired," predicting it will not gain popularity among New Orleans homeowners, much like Benjamin Moore's ill-fated "Mellow Yellow" from 2000.

The Crescent City's Unique Relationship with Color

New Orleans has long embraced bold and vibrant hues in home design, reflecting its Latin heritage. While more subdued color palettes dominated the post-Louisiana Purchase era, recent years have seen a resurgence of bright exterior colors to highlight the city's historic architectural details.

Aubert notes that the Modern Farmhouse aesthetic continues to dominate new construction, with white exteriors, black accents, and cedar highlights remaining a popular choice. However, he anticipates an increasing use of color in 2025, with homeowners expressing individuality through colorful exteriors or striking accent details like a boldly painted front door.

Shifting Interior Trends

Interior design in 2025 is also seeing a return to nostalgic styles. Jennie Cannon West, principal and founder of Studio West, notes a rising demand for home bars and dedicated dining rooms. She attributes this to post-pandemic shifts, where homeowners have become more invested in entertaining within their homes.

West also observes a growing appreciation for historical design influences, such as the Art Nouveau period (1890-1910), characterized by flowing curves, bright colors, and asymmetrical compositions. Additionally, some homeowners are leaning into the retro aesthetics of the 1970s, incorporating wood-paneled walls, mustard yellow and avocado green accents, and atomic-style light fixtures.

The Future of Work and Home

West predicts that more people will return to office settings in 2025, leading to a transformation in workplace design. Companies are shifting away from rigid office layouts in favor of hospitality-focused environments that encourage collaboration and creativity. She cites the redesign of the New Orleans advertising agency Peter Mayer as an example, where traditional desking has been replaced with open, interactive spaces.

Outdoor Trends in 2025

Outdoor spaces are evolving alongside interiors, with sustainability and multifunctionality leading the way. Gardeners and landscape designers are prioritizing choices that support wildlife, reduce water consumption, and maximize usability.

With climate change concerns on the rise, native plant gardens are gaining traction. Plants such as anise, rudbeckia, Louisiana iris, and French mulberry are becoming go-to options for their beauty and resilience in fluctuating weather conditions.

Marianne Mumford, founder of Landscape Images in Jefferson, emphasizes the importance of integrating native plants with traditional New Orleans flora to create balanced, well-designed gardens. She also highlights the use of garden walls as decorative gallery spaces, blending indoor and outdoor aesthetics seamlessly.

Maximizing Small Outdoor Spaces

As urban living expands, small-space gardening continues to grow in popularity. Vertical gardens, trellises, and climbing plants like star jasmine and Peggy Martin roses are being used to bring greenery to compact areas. The enduring charm of balcony gardens in the French Quarter further demonstrates how vertical gardening can make a significant impact in small spaces.

Looking Forward

As 2025 unfolds, home and garden design trends will continue to reflect evolving lifestyles, cultural shifts, and environmental considerations. Whether through bold color choices, nostalgic interiors, or sustainable gardening practices, homeowners are finding new ways to express their individuality while adapting to the ever-changing world around them.

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Creating a custom-built home is an exciting endeavor, but it requires careful planning to ensure your new home is functional, comfortable, and suited to your needs. Whether you already have a floor plan in mind or are starting from scratch, these key strategies will help you design a space that works for you now and in the future.

Prioritize Storage Space

One of the most common frustrations in any home is a lack of storage. Ensure that your floor plan includes ample closet space, a well-sized pantry, and additional built-in cabinets. Even if you don't think you need the extra space now, you'll likely find it invaluable as time goes on. Consider slightly enlarging your pantry or adding extra storage in the garage to accommodate future needs.

Optimize Traffic Flow

The movement between rooms in your home should feel natural and unobstructed. Open floor plans that connect living, dining, and kitchen spaces can make a home feel larger and more inviting. Additionally, consider how your home transitions between indoor and outdoor spaces—especially if you enjoy gardening or outdoor activities. Having an easily accessible entrance near a small bathroom can prevent tracking dirt through the house.

Plan for the Future

When designing your home, think beyond your current needs. If you anticipate growing your family, ensure there is room for extra bedrooms or a nursery. If you work from home, a dedicated office space might be beneficial. Aging in place is another important factor to consider. Wide hallways, a first-floor master suite, and minimal stairs can make your home more accommodating as you age.

Consider Electrical and Plumbing Layout

Strategic placement of electrical and plumbing systems can significantly impact your budget. Aligning bathrooms and the kitchen along shared walls can simplify plumbing work, reducing labor costs. Likewise, consider where light fixtures and outlets will be most convenient to avoid costly rewiring in the future.

Incorporate a Separate Laundry and Utility Space

A dedicated laundry room is a practical addition that keeps your home organized. Tucking the washer and dryer into a separate space prevents noise from interfering with living areas. If you're building a two-story home, consider placing the laundry room near the bedrooms to minimize carrying heavy laundry baskets up and down the stairs.

Make Space for Hobbies

Your home should reflect your lifestyle and interests. If you have hobbies that require space—such as crafting, woodworking, or home-based business operations—designate specific areas for these activities. If your hobbies take place outdoors, consider including a workshop, storage shed, or designated workspace in your yard.

Leave Room for Flexibility

A well-designed floor plan should accommodate potential changes in your lifestyle. Can a bedroom double as a home office? Can your kitchen layout allow for the addition of an island later? Designing with flexibility in mind ensures that your home can evolve with your needs over time.

A custom home allows you to create a space that is uniquely suited to your needs, but thoughtful planning is essential to avoid costly mistakes. By incorporating ample storage, optimizing traffic flow, considering future needs, and allowing for flexibility, you can design a home that is both functional and comfortable for years to come.

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How to Secure a Low Mortgage Rate in 2025

Mortgage interest rates have risen again, making home buying more expensive for many prospective buyers. While the Federal Reserve is expected to cut rates twice in 2025, those reductions may not occur for several months. However, waiting indefinitely for rates to fall isn't always practical or advisable. Instead, there are several strategies homebuyers can use to secure a lower-than-average mortgage rate.

Do Your Research

Finding the best mortgage rates begins with thorough research. Mark Worthington, branch manager at Churchill Mortgage, emphasizes the importance of comparing lenders. "The place to start is by doing research to discover which mortgage companies have the best reviews and most options," he advises. Reviewing multiple loan offers ensures you are making an informed decision rather than settling for the first available option.

Shop Around

One of the biggest mistakes buyers make is accepting the first mortgage rate they're quoted. Steven Parangi, a mortgage broker and owner of Alpine Mortgage, advises borrowers to compare offers from multiple lenders. "Even a tiny difference in rates can save you thousands of dollars over the life of the loan," Parangi notes. Taking the time to explore different lenders can result in significant long-term savings.

Improve Your Credit Score

Lenders reserve the best mortgage rates for borrowers with high credit scores. Conventional loans typically require a minimum credit score of 620, but a score of 740 or higher is necessary to qualify for the lowest rates. To improve your credit score, Parangi suggests paying down high-interest credit card debt and avoiding new credit accounts. Additionally, making timely payments is crucial, as payment history comprises about 35% of a FICO score.

Make a Higher Down Payment

A larger down payment can help secure a lower mortgage rate in multiple ways. "A bigger down payment reduces the loan-to-value (LTV) ratio, making you a less risky borrower in the eyes of lenders," says Parangi. Additionally, putting down at least 20% eliminates the need for private mortgage insurance (PMI), saving borrowers extra costs on their monthly payments.

Consider Different Loan Terms

Opting for a shorter loan term can also result in lower interest rates. Data from Freddie Mac shows that as of January 2, 2025, the average rate for a 15-year mortgage was 6.13%, compared to 6.90% for a 30-year mortgage. While shorter loan terms come with higher monthly payments, they can lead to substantial interest savings over time.

Lock in Your Rate

A rate lock ensures that your mortgage interest rate remains unchanged for a set period, provided your financial situation remains stable. If rates drop but are expected to rise again due to inflation or economic shifts, locking in your rate early can be a wise move. Parangi recommends that borrowers consider rate locks to protect against future fluctuations.

Consider Buying Mortgage Points

Another strategy to reduce mortgage rates is purchasing mortgage points. One mortgage point typically costs 1% of the loan amount and lowers the interest rate by about 0.25%. For instance, purchasing one point on a $420,000 home would cost $4,200. "This is a good strategy if you plan to stay in the home long enough to recoup the upfront cost through monthly savings," explains Parangi.

For homebuyers in 2025, securing a favorable mortgage rate requires proactive planning. "Start working on your financial profile early, explore all options, and don't accept the first offer you get," advises Parangi. Getting the best mortgage rate isn't a matter of luck—it's about having a well-thought-out plan. By following these strategies, buyers can maximize their chances of securing a lower mortgage rate and making homeownership more affordable.

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Private residential construction spending rose by 1.5% in October, as reported by the latest U.S. Census Construction Spending data. Compared to the same month last year, there was a 6.4% increase.

The monthly growth in private construction spending mainly came from higher expenses on residential improvements. Spending on improvements jumped by 2.7% in October and was up by 18.5% from a year earlier.

Spending on single-family homes increased slightly by 0.8% for the month. This uptick follows a five-month decline from April to August and reflects growing builder confidence. Year-over-year, spending on single-family homes was 1.3% higher.

On the other hand, spending on multifamily construction broke a ten-month downward trend, rising by 0.2% in October. Despite this small gain, multifamily construction spending is still 6.8% lower compared to last year.

The NAHB construction spending index illustrates that single-family construction spending has slowed since early 2024 due to high interest rates. Growth in multifamily construction spending has also dwindled since its peak in July 2023. Meanwhile, spending on improvements has picked up since late 2023.

In the nonresidential sector, private construction spending increased by 3.5% year-over-year. This rise was largely driven by higher spending in manufacturing, totaling $32.9 billion, followed by the power category at $6.4 billion.

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Strong demand for housing in the U.S. has put large homebuilders in a favorable position, while smaller builders are becoming targets for acquisition. Buyers include both domestic and Japanese firms.

This year, mergers and acquisitions in the single-family homebuilder sector are reaching record levels in terms of total dollar volume and nearly matching the number of deals, according to Margaret Whelan, founder of Whelan Advisory and a leading investment banker in the industry.

The largest builders are eager to expand. They want to enter new markets, offer a wider range of products, and improve their efficiency through acquisitions, Whelan explains.

So far this year, there have been 19 deals involving homebuilders. Whelan has four more in the pipeline before the year ends, with the potential for additional deals. Over the last five years, the average number of deals was just 12 annually.

This surge results from ongoing housing demand, which picked up at the start of the pandemic due to record-low mortgage rates and an increase in migration. However, those low rates also led to a significant housing shortage.

During the initial two years of the pandemic, homes sold quickly due to low rates. But when interest rates rose, many homeowners chose not to sell to avoid losing their low mortgage rates. This situation, often called the mortgage rate lock-in effect, has worsened the housing shortage.

Large homebuilders have gained from these trends, especially by offering incentives to reduce mortgage rates and attract buyers. Five years ago, builders represented one in six homes for sale. Now they account for one in three.

The biggest builders have increased their market share from 30% to 50%. Public builders have advantages over smaller private firms, as they can borrow at lower costs and often do not need loans for large acquisitions, according to Danielle Nguyen from John Burns Research and Consulting.

The trend includes not just American firms. Whelan noted that half of her deals this year involved Japanese buyers. They face slower growth in their home market and can access cheaper capital, allowing them to offer more competitive prices in the U.S. market.

Significant transactions this year include Japanese companies like Sekisui House acquiring MDC Holdings. This deal positioned Sekisui among the top five builders. Other names like Sumitomo Forestry and Daiwa House are expected to pursue similar acquisitions.

Whelan highlighted that Japanese companies excel in optimizing the homebuilding process. They often use 3-D imaging to plan homes and reduce waste by 20% to 30%. They also pre-cut materials in factories, making the building process more efficient.

Whelan expressed hope that these Japanese efficiencies could help make housing more affordable, similar to what they achieved in the U.S. auto industry.

M&A activity in homebuilding is likely to persist into next year, as transactions typically take time to finalize. The incoming Trump administration could also influence this growth.

President-elect Donald Trump has pledged to make more federal land available for homebuilding and may push state and local governments to ease zoning restrictions that limit development. However, he has also committed to mass deportations.

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Lower Mortgage Rates Are Enticing Potential Home Buyers

Homebuyers are reacting to lower mortgage rates and an increase in available homes. This has driven up mortgage demand recently, despite a decrease in refinancing applications

According to the Mortgage Bankers Association's seasonally adjusted index, overall mortgage application volume rose by 2.8% from the previous week, adjusted for the Thanksgiving holiday.

The average interest rate for 30-year fixed-rate mortgages with conforming loan balances, which are $766,550 or less, dropped to 6.69% from 6.86%. Points also fell from 0.70 to 0.67 for loans requiring a 20% down payment. This marks the lowest rate in over a month.

Mortgage applications for buying homes saw a 6% increase last week, the highest level since January. However, applications are still 21% lower compared to the same week last year, partly due to the change in Thanksgiving timing.

Joel Kan, an economist at the MBA, noted that the increase in purchasing activity is driven by lower rates and more homes available for sale, giving buyers greater choice than earlier this year.

Refinance applications dipped by 1% for the week and are down 7% from last year. Many current borrowers have financing at significantly lower rates than those available now.

Kan mentioned that while conventional refinance applications fell, FHA and VA refinance numbers improved compared to the previous week.

At the beginning of this week, mortgage rates continued to decrease slightly. Investors are balancing news from France and South Korea with positive economic remarks from several Federal Reserve officials.

More significant economic data is expected on Wednesday with the release of the ADP employment report and the ISM services index. Federal Reserve Chairman Jerome Powell will also participate in a discussion at The New York Times DealBook Summit.

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