My wife and I are selling our current house and have already purchased another piece of property on which we plan to have a house built. We live in Mississippi and according to some contractors I have spoke with, the going rate for heated/cooled right now is $80 a sq. ft. and $50 a sq. ft. for non-heated/cooled.(i.e. garage, porches). My question is, if we wait until October or November to start construction, are construction costs likely to go down more? Or are we wasting our time waiting. Also, I wonder if interest rates will go down in the Winter as they have the past 10 out of 11 years. The size house we are planning on building is approx. 2200 sq. ft. heated and cooled.. and 800 sq. ft. non-heated, cooled. Construction costs have come down recently after the post-Hurricane Katrina spike. However, when I had our current house built 4 years ago, costs were $42 a sq. ft. heated and cooled. Could construction costs still be headed down from $80 a sq. ft.?