That’s a good question. And I could go on about how interest rates are at historical lows, it’s a buyer’s market, home ownership has tons of tax goodies and more. But if you’re reading this blog, that’s all probably obvious to you, yet you’re still not sure. 
The most important thing to consider when you’re thinking about building or buying a place to call home is YOU. 
Why do you want a new home? 
1. Are you using up every inch of your current home and you still don’t have enough room? Do you have another family member on the way – a new baby or aging parent? More space is always a good reason.
2. Maybe you’re viewing it as a reward for your hard work or success and you can afford to make an investment. Another solid reason.
3. Moving to the area? Excellent time to build. You’re in transition anyway and you only want to do this once.
4. Maybe you’re aware of a higher quality school close by and moving into a new neighborhood gets you in. This is a very valid reason to move.
5. Keeping up with the Joneses? Everybody gets a little house envy now and then, but if you’re content in your own home, this alone should never drive you to take such a big step.
Bottom line is you should feel good about it on and off paper.  In reality you are looking to buy what will probably be the largest purchases of your life. You have to make sure it actually sits well with you. You know, listen to that little voice at night that says, “What are you thinking!?” and make sure you’re in sync. 
Can you afford it?
This is obvious but the answer is not made in a vacuum. Many times a new house is at least initially a stretch financially.  The question is how much a stretch is acceptable.  Some feel that being in a new, more comfortable home where they will raise a family is cause to live thin for a few years. Others may not want to change their lifestyle (and use current discretionary income) to make a home a reality.  There is no right or wrong answer.  Everybody has different comfort levels and this needs to be addressed before moving on to …
When do you want to move?
This, to some extent, you have no control over based on what's available when in the market. But you should consider that designing and building a new home takes roughly twelve months from when you start the design process. Ideally having kids settled in by the time school starts in September is often the goal so it’s good to keep that in mind as you talk to your builder about their construction schedule.
But by contrast- marketing, listing and selling your home in the spring is the best time to get the highest price.  So its takes some balancing and coordinating to develop a strategy for these competing interests.
In the end our advice is to walk through these questions and determine what’s best for you and your family and see if now is the right time to move forward.  If so now it’s time to find a builder and some land.  And we just happen to have some blog entries on that as well!