Are you currently renting and wondering why you’re helping to pay someone else’s mortgage, but think it’s too expensive to own your own home? With the real estate market stabilizing (and home values beginning to increase in 2013), is now the time to buy a new home? Napolitano Homes has two new homes communities in Suffolk, Virginia that offer a premium condominium lifestyle without needing to break the bank!
The Nouveau Series in The Vineyards at Bennett’s Creek Square has homes that start right at $200,000. At this price, you can getÃ‚Â The AtwoodÃ‚Â whichÃ‚Â is a 2 Bedroom, 2.5 Bath home with over 1,500 square feet of living space. Homeowners in this neighborhood enjoy walking trails, a Community Center, pool, and gorgeous landscaping! To learn more about The Nouveau series, contact Diana Jordan at 757-284-1845 to schedule a showing.
Edgewood at BelleHarbour is another Napolitano Homes new homes community that starts at extremely reasonable pricing. Starting at just $194,900, The Crawford model is a 3 Bedroom, 2.5 Bath home that has over 1,600 square feet! At that price, it’s possible to OWN a home at about $1,200 a month (speak with one of our preferred lenders to find out exact monthly payments based on loan type, down payment, and other factors that decide mortgage payments). To learn about the Edgewood neighborhood, contact Charles Cox at 757-237-7615.
Of course, deciding whether to buy a new home is far more complicated than comparing mortgage price to monthly rent. One way to help decide whether to continue renting or to buy a new home in Suffolk, VA is to check out this Rent vs Buy calculator. Just type in your current rent price, home purchase price, anticipated down payment and loan type, and presto! This handy tool shows if/when home ownership makes sense! Ã‚Â Another cost calculator to check out is from MSN Real Estate, and takes into account almost all costs associated with both renting and owning:Ã‚Â http://money.msn.com/home-loans/rent-or-buy-calculator.aspx
You may have noticed a little extra holiday cheer on our website in the last few days. Well, it’s because Napolitano Homes is putting a little something more in your stocking when you purchase a new home this Holiday Season! We all could use a little extra pocket money for those gifts that need to be bought this year right?Ã‚Â At our Suffolk Community: The Vineyards at Bennett’s Creek Square, we are giving you $10,000 towards your closing costs if you purchase one of our inventory homes. For some of our other inventory homes throughout Hampton Roads we are offering $5,000 towards your closing costs.* But you’ll need to take a look around our website to find these! Just keep any eye out for the little sprigs of holly and money signs. HINT check out ourÃ‚Â Move-In Ready homes.Ã‚Â Napolitano Homes wants everyone to have a fantastic holiday season and helping you and your family get into a beautiful new home in time for 2012 would definitely bring us joy. Happy Holidays from our family to yours and very Happy New Year!
*$10,000 toward closings costs can only be applied to Napolitano Inventory at The Vineyards. All other inventory will receive $5,000 in closing cost assistance. To receive closing cost assistance on the purchase of a Napolitano Inventory Home buyer must use a Napolitano Homes Preferred Lender. Money assistance for buyer closing costs can only be applied towards builder approved closings costs. See a Napolitano Homes Sales Associate or send us an EMAIL to request a copy of our builder approved closing costs.
You would pretty much have to have been living under a rock the last few years not to know what has been going on with the housing market. The words Ã¢â‚¬Å“ downwards slide into oblivionÃ¢â‚¬Â come to mind. IÃ¢â‚¬â„¢m sure you’re wondering why I, an employee of a new home builder would be bringing this to your attention, especially if everyone already knows. Well itÃ¢â‚¬â„¢s because of course we all know the housing market is down 29% since the peak in 2006. So, IÃ¢â‚¬â„¢m here to offer a new perspective. That, right now may indeed be the best time for someone to purchase a home (and no IÃ¢â‚¬â„¢m not crazy).
LetÃ¢â‚¬â„¢s chat about my last statement for a moment. With home ownership as withÃ‚Â most things, people tend to have different ideas about what it means. IfÃ‚Â home ownershipÃ‚Â is really the American Dream then itÃ¢â‚¬â„¢s looking a little different these days, but I would say that different is not a bad thing. If your American Dream consists of purchasing a piece of property that will appreciate by 30 percent a year, making a home a way to help fund your lifestyle then we are going to have to turn the page into a new Ã¢â‚¬Å“dream worldÃ¢â‚¬Â. The world of having a solid and fairly stable long-term investment and the satisfaction of knowing you own the home you live in. Despite what the housing market is going through that dream is still alive. Making this the best time to purchase a home.
So, I know you’re thinking thatÃ¢â‚¬â„¢s all well and dandy dreams blah blah blah, but letÃ¢â‚¬â„¢s look at some numbers. Interest Rates, those are some important numbers and they are about as low as they can get and home prices are down by 30 percent on average.Ã‚Â Lets do that math (I know, yucky but itÃ¢â‚¬â„¢s an eye opener) four years ago the monthly payment on a $300,000 house with 20 percent down and a mortgage rate of about 6.6 percent was $1,533. Today that $300,000 house would sell for $213,000 and a 30-year fixed-rate mortgage with 20 percent down would carry a rate of about 4.2 percent and a monthly payment of $833. ( Pricing information taken from Case, E. Carl. Ã¢â‚¬Å“A Dream House After AllÃ¢â‚¬Â The New York Times)
IÃ¢â‚¬â„¢m getting to the end donÃ¢â‚¬â„¢t worry. Here it isÃ¢â‚¬Â¦housing has never been a better bargain! Eventually the market will build itself back up again (no pun intended) and you will have purchased your home with the lowest housing prices and interest rates in 5 years. Happy Hunting! And hereÃ¢â‚¬â„¢s to the American Dream!