Purchasing a home is a significant milestone that many people dream of accomplishing. Making a financial investment of that size can certainly be scary, but becoming a homeowner may be more realistic than you think, even during a time of high interest rates! Continue reading to learn more about why you should take advantage of this time to buy now – and also the benefits to buying new and move-in ready!
Lower Competition & Lower Prices
Many homebuyers are severely deterred by high interest rates, reducing the competition you face when searching for a home. Decreased demand often leads to a stabilization or decrease in price, making your dream home more affordable than it will be when demand picks up again. As your home appreciates over time, you’ll be happy you took advantage of a lower price to maximize the future value of your investment. Buying a new build versus resale may also lower your total purchase price as no extra money needs to be spent on repairs or remodels of a new home for many years. A less competitive market also means that your opportunity to purchase a move-in ready home is greater. A move-in ready home is already complete with all the bells and whistles you could possibly want, included in the final purchase price! It takes the stress out of making extra decisions and allows you to focus on closing escrow and moving into your new dream home in as little as 30 days.
Refinancing
There’s an old saying in real estate to “date the rate” which is meant to remind us that while your new home is a long-term investment, your interest rate may only be temporary. Refinancing your home to a lower interest rate is a common tool that many homebuyers use so they can proceed with their new home purchase despite current high rates. Don’t let temporary market conditions hold you back from buying your dream home when there are great options available such as refinancing. Signature Homes Preferred Lenders are highly knowledgeable about new home financing and provide excellent care in helping you through this important time. Consider applying for pre-approval with one of our Preferred Lenders to ensure you receive the best financial assistance possible.
Incentive Programs
Signature Homes understands the pressure that comes with taking on a mortgage and putting money down for your new home, which is why we offer two different incentive programs, Hometown Heroes and Homeowner Referral. To show appreciation for the service and dedication of first responders, medical workers, military, and teachers, Signature Homes offers a special $1,500 credit toward your new home. We also offer $5,000 to current Signature homeowners who refer friends or family that close on a Signature home. Ask a Sales Associate for further details!
Not only do you have the opportunity to take advantage of Signature Homes incentive programs, but state and federal programs also offer incentives. The California Housing Finance Agency (CalHFA) offers a MyHome Assistance Program for first-time homebuyers purchasing a single-family home as their primary residence. CalHFA also offers a Dream for All Shared Appreciation Loan for first-generation and first-time homebuyers. The California Association of Realtors (C.A.R.) offers a Pathway to Homeownership Closing Cost Assistance Grant Program for first-time homebuyers purchasing a single-family home as their primary residence who also belong to a designated Underserved Community. The U.S. Department of Veterans Affairs offers VA Home Loans for veterans, service members, and eligible surviving spouses.
Visit the links above for additional details and requirements of these programs, and reach out to a Signature Homes Preferred Lender to learn more about how they may be able to assist you.
Why Wait?
There’s no such thing as the perfect time to purchase a new home, so why wait any longer? Cut down on costs even further by purchasing an energy-efficient new build, or move into a move-in ready home in as little as 30 days! Signature Homes Sales Associates and Preferred Lenders are ready to get you into your dream home, whether it’s a convenient and beautifully completed move-in ready home, or customized with all your favorite finishes.
Be sure to visit our Signature Homes neighborhoods to find the right home for you. Join our Interest List to stay up to date on all our communities, and follow us on Instagram and Facebook to see all the latest photos, videos, and announcements!
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