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Don't miss the boat this time around....
1. It’s a buyer’s market. Buyers are in the driver’s seat.
2. Tax benefits. Uncle Sam knows homeownership benefits the nation and encourages it through the mortgage interest deduction and deductions for state and local property taxes.
3. Great selection. There is a large inventory of home on the market that will accomadate with your lifestyle, location, personal preferences, and lot size.
4. Interest rates. For most consumers, the bottom line in a home purchase is the monthly mortgage payment. Mortgage interest rates today are near historic lows, helping to make homeownership more affordable.
5. Equity. Over time, homes appreciate in value, providing a source of funds for education, consumer goods, retirement, and more. And if the owner uses a home equity loan, the interest on the loan is tax deductible.
6. Energy and resource efficiency. New homes are increasingly energy-efficient and are constructed with resource conserving materials and techniques to save consumers money, protect the environment, and conserve valuable resources. Most newer larger homes will be more energy and cost efficient than a smaller older homes.
7. Amenities. When it comes to special features, the sky is the limit. From gourmet kitchens to mud rooms, luxurious bathrooms, home theaters and more, if a buyer can dream it, a builder can build it. Look for natural products to be incorporated into today’s homes. Walls of windows bring in plenty of natural light, soaring ceilings create an illusion of space, and low-maintenance materials help to keep homes looking great with minimal homeowner effort.
8. More space. Today’s new homes are more spacious and well designed than ever before to accommodate kids, pets, hobbies, and the changing demographics of American households. According to the US Census Bureau’s annual report on the Characteristics of New Housing, the average size single-family home built in 2006 was 2,469 square feet.
9. Subdivisions. Many of today’s neighborhoods focus on the amenities that homeowners can enjoy after their home is built. Conservancy subdivisions are on the rise, and homeowners appreciate the exposure options that are created when the developer works with the existing terrain and protects existing mature treelines. Walking trails and open space inspire a sense of community.
10. Lower Material Costs. There has never been a better time to build, remodel, or improve your home. The current normalization in the market has already resulted in a drop in the cost of lumber. In fact, material costs have declined or held steady and are currently at a five year low. For a typical 2,400 sq. ft. home you can realize a 10 – 15% savings in your lumber costs. This kind of savings may also be realized in other materials required in the construction of your home.
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