""

Blog

Why Now is the Best Time to Buy a Home!

Categories: Best Time to Buy a Home, Blog, Buffalo Homes, Construction Prices, Home Builder, Home Locations, Home Value Stability, New Homes, Property Values, Rental Rates, Uncategorized | Posted: August 31, 2016

frontentrance_500

Buying a new home is among the largest and most important purchases most people ever make. As such, many homebuyers may be hesitant to commit as they wait for the perfect market conditions. However, now may be the best time to buy!

 

Interest Rates
Interest rates may be low now but they’re on the rise. Buying a home before they begin to climb is likely to save homeowners a significant amount of money in the long run.

Purchasing Power
Purchasing power is essentially how much you can get for your dollar. It’s affected by interest rates- just a 1% increase in your interest rate could reduce your purchasing power by 10%. It’s always best to buy when interest rates are low, as they are now.

Low Inventory
The housing market in Buffalo currently has an unusually low inventory. The Buffalo News reported that, at the present rate, there are only enough homes on the market in WNY to last 3.8 months (Jun. 8th, pg. B7). That’s nearly half of the ideal mark which is 6 months. This means that right now is absolutely an ideal time to sell your home.

Rental Rates Are Rising
According to rent.com, decreasing rental vacancies, and a low rental inventory has led to rising rental rates. Unlike with a home you own, there is no equity to gain as your rent increases.

Construction Prices
At each phase of a new community, the price for the homebuyer will increase. Getting into a new community early is almost always the most economical option.

Build Your Equity
Equity is the amount of your home which you own- your home’s value minus the total remaining balance on the mortgage. Because interest rates are low but rising, this is a perfect time to buy as the market will essentially do half the work of building your equity for you!

Buffalo Homes, in Particular
The Washington Post recently created an interactive map which showed that Buffalo was among the hottest regions in the country in terms of increased property values. The area is more vibrant than ever!

Ten Steps to Finding the Right Builder for You

Categories: Blog, Eco-Friendly Homes, Excellent School Districts, Home Builder, Home Locations, Home Value Stability, New Homes, Warranty | Posted: July 6, 2016

 

Choosing the perfect builder for your family’s home may seem like a daunting task but if you follow these ten simple steps your decision will practically make itself!

a outside

  1. Research Builders. The Better Business Bureau, a local Builders Association, LinkedIn, Facebook pages, and referrals from friends and family are all excellent ways to check on a builder’s reputation. Key factors to consider are the extent of the builder’s experience and the reviews they have received from past clients.
  2. Ask your Builder for References. It’s completely reasonable to request references from your builder. Talk to other homeowners and ask about their positive and negative experiences with each builder.
  3. Check Out Their Website or Social Media. This step can tell you a lot about the home plans that they offer. Often you can find photo galleries or FAQ’s on a builder’s website.
  4. Does the Builder Fit Your Style? Make sure to let them know what kind of design you have in mind. Is it modern? Rustic? One story or two? Make sure they have experience building this type of home.
  5. Confirm your Builder’s Longevity. Is their company financially stable? More weathered companies always provide peace of mind to a homebuyer
  6. Research Home Value Stability. Builders should be happy to provide you with a list of homes they have previously constructed. Looking into whether or not these homes have retained or lost their value over the years can give you great insight into the future of your home.
  7. Clearly State Your Needs. It’s important to discuss the size, style, and price range that’s right for your family at the very beginning of your conversation with your builder.
  8. Warranty and Service Agreements. Ask for details regarding their warranty, service agreements, or workmanship guarantee.
  9. Industry Connection. Does your builder hold a good standing with local Home Builders Associations? They should be proud of their connections within their industry and their relationship with their local community.
  10. Take a Tour.Touring a few of the builder’s homes is absolutely vital. See the quality of their work with your own eyes.

 

Bonus Tip:

Write a List of Questions. This is especially useful when touring model homes. When you have so much to see and consider, it can be easy to forget something you meant to ask beforehand. Having a physical list in hand at this time will keep you organized and efficient.

Page 1 of 3123