Why New? Why Now?

Are you thinking about purchasing a new home but have been waiting for the market to turn around?  Well, wait no longer because now is the best time to purchase your new home. 

Since the housing recession began, almost four years ago, land values have dropped to pre-boom levels.  So what does that mean?  More affordable new homes!  The demand for housing has been fairly consistent; we simply saw the more affordable resale homes capture a larger share of the market.  The value of new homes was overburdened by high land cost.  However, the correction in the market has brought new home prices back down and now is the best time to purchase a new home.  

 So Why New? 

1. New homes offer up-to-date plans and features for your lifestyle.
2. A new home provides the security of a warranty, which eliminates hidden costs or unanticipated repairs.
3. New home efficiency saves you money.
4. New home purchasers often enjoy savings on homeowner’s insurance premiums.
5. Today’s more stringent construction standards mean new homes meet tougher structural requirements.
6. Up-to-date electrical means safer operation, more outlets and the ability to handle the latest in computer, cable and phone service. 

So Why Now? 

1. Interest rates are at an all time low but will not stay there forever.
2. Banks have normalized credit requirements and 95% loans are available.
3. FHA loans are great solutions, requiring only a 3.5% down payment.
4. The federal tax credit has been extended and expanded, which dramatically helps with cash down payments.  The tax credit expires April 30, 2010.
5. Pricing has stabilized as inventory has come into balance.  The fear of down side has been nearly eliminated.
6. The ‘Honey Do’ time can be reinvested in your families, your hobbies or just being you.

So don’t miss this opportunity.  Buy new and buy now.

Authored by, Jeff Kingsfield, Sr. VP of Sales for John Wieland Homes and Neighborhoods