New vs. Used

What are the benefits of owning a new home vs. a used home? One of the first decisions you will make when looking for your next home is deciding whether a brand-new home or a previously used home is right for you. Here are some benefits of new home ownership to consider:

Builder Warranty- Most homebuilders provide their homeowners with a warranty on their new home that covers all material and workmanship of the home during the first year of ownership at no additional cost. In addition, manufac- turer warranties on items in the home such as appliances, HVAC, flooring, etc. pass to the homeowner. These warran- ties offer peace of mind when moving into your new home.

Efficiency- New homes have the latest in appliances, home systems, insulation and windows that are energy efficient. Plus a new home will be built to the most current building codes. Having the most energy efficient systems and up to date construction in a home equates to lower energy costs and expenses.

Less Maintenance- As a home ages it becomes necessary to spend more money on maintaining it. A newly built home requires less maintenance since everything from appliances to the HVAC system, water heater, and roof are new!

Ability to customize and personalize- Depending on your timing, you may have the ability to choose specific floor plan options and customize your homes finishes including cabinets, countertops, appliances, flooring, paint, and exte- rior colors. This allows you to move in to a home that was designed with your needs and desires in mind and eliminate costly renovation costs.

Financing- Many homebuilders work with select Preferred Lenders that offer loan programs and pricing designed to make the home buying process simpler and more affordable.

Owning vs. Renting

Home ownership is abundant with benefits, and for families, it can offer greater stability and stronger ties to the community. With all its rewards, owning a home is also a big responsibility. So if you’re considering home ownership, see how these financial and lifestyle benefits can work to your advantage.

Owning gives you the freedom to customize your home to your heart’s content. You can have the gourmet kitchen you’ve always dreamed of, a rec room for family time and landscaping that shows your style. Owning also means you’re responsible for maintenance and repairs later on down the line. Having your own place gives your family the space and the freedom to stretch out, grow, be part of a community and make memories.

Planning

Identify what you’re Willing to Spend:
Realstar Homes has a preferred list of mortgage experts that are here to help guide and educate you on financing options and programs. They can help you determine loan terms and your price range so you’ll be able to purchase the most home for your dollar. They’ll also assist you in gathering the appropriate documentation for what will be required to get the ball rolling toward home ownership.

Find a Community that’s Right for You:
When buying a new home, its not only about a great neighborhood and how big the pool is. Proximity to schools, recreation areas, medical facilities and business centers are important to consider as well. For example, even if you don’t have school age children, the family who buys your home might.

Select that “One of a Kind” Homesite:
When considering the location of your dream home, there are several things to consider. Each piece of property is unique in its own way. Make sure you consider what’s important to you and your family. You may want afternoon sun in your Living Room or morning sun in your Kitchen. The rear facing direction of your homesite may affect this. Also, consider privacy factors. Waterfront homesites are great but sometimes don’t offer the privacy one might want.

Choose the Home you’ve Always Wanted:
Selecting a floorplan is more than just heated square feet and some bedrooms. Your new home should be a reflection of your style as well as your family’s needs. Consider how you’ll be using certain areas and the space allocated. The way a room lives can change as your life changes. Considering how you live day-to-day is more important than how you see yourself entertaining.

Personalizing

Coming Soon

Financing

Buying a home is a big investment in your family’s future and being prepared is one of the smartest things you can do to help the process run smoothly. Like any business transaction, it’s important to educate yourself. Once you’ve assessed how much of a monthly investment you can afford, getting pre-qualified is the next step. Realstar Homes has partnered with some of the best local lenders who can assist in getting you pre-qualified at no cost or obligation. This can also help you understand how much purchasing power you may have. Many times, people are amazed to find out that they can afford more home than they at first thought. The pre-qualification process also gives insight into loan types, payments, taxes, interest rates, and helps you make an informed decision.

Once pre-qualified and understanding the potential cost of a new home along with how much you can afford, you can begin to figure out your price range. This means doing research to consider the potential expenses like insurance, property taxes, utilities, HOA fees, maintenance costs, etc. To keep these figures at your fingertips, downloading a good mortgage calculator app to your phone is a good idea. There are several free ones available and most can handle calculating mortgage payments several ways depending on how you want to run the numbers.

A good credit score is paramount when shopping for a mortgage because it can affect your interest rate. For a clear idea of your credit health, obtain a copy of your credit report from each of the credit reporting agencies.

Construction Process

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Settlement

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FAQs

FAQs

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