The Advantages of Buying New Homes

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Jay Brown, president of Greater Fort Worth Home Builders’ Association, recently addressed the pros and cons of purchasing new homes, as opposed to opting for a resale. In addition to the obvious advantages of new homes’ energy-efficiency, contemporary floor plans and master suites, and the ability to select appliances and flooring, there are other, less obvious reasons to go with a new home builder.

Buying a New Home

A typical urban or suburban neighborhood can be comprised of an eclectic group of residents. New neighborhoods, such as those offered by LGI Homes, are often family-focused environments, filled with friendly neighbors—many of whom likely share common interests.

Brown says that today’s builders, particularly Texas home builders, “are responding to home buyer preferences for outdoor living and entertaining. Rooms are designed to flow into each other more easily and new versions of the great room concept lend generous space for parties and informal gatherings. If you enjoy patio dining and relaxing, you’ll find that new homes offer more common areas and transitional living spaces, as well as outdoor kitchens and fireplaces.”

When looking at resale homes, would-be buyers have to imagine what the space will look like when decorated to their liking. Buying a new home allows buyers to create the home decor from the very beginning, Brown says, “without the time and expense of removing wallpaper, popcorn ceilings or dated paint colors. Having a clean slate and a sparkling new kitchen can also make new construction very appealing. Additionally, you don’t have to worry about working with overgrown shrubbery or unimaginative landscaping.”

Brown also points out that new homes are designed to accommodate modern technology in a way homes built even just five years ago couldn’t imagine. “New homes are wired or pre-wired to accommodate the latest in high-definition televisions, home theatres, DVRs, computers and other technology-related devices and applications,” he explains. “Many older homes are simply not equipped to handle the different electrical requirements of today’s (and tomorrow’s) technology.”

Consumers Can Help Restore Housing Market

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House sold sign

According to real estate marketer Steve Hundley, realtors and consumers need to work together to revive the nation’s flagging housing market. To that end, Hundley put together “The Real Estate and Housing Symposium” which happened on April 21, 2011 in San Diego. The idea of the event was to have a Town Hall style event that would be recreated in major cities across the country.

The event was aimed to kick off a national campaign called “Bring Back Our U.S. Housing Market”, which seeks to initiate citizen-led forums focusing on a Blueprint for Housing Reform, which will be presented to Congress.

Hundley says it has become his personal mission to educate Americans on what they can do to help restore the country’s housing market. “Correcting our housing market means more money for communities, higher property values, more jobs created and improved consumer confidence.”

Assisting Hundley as honorary co-chairperson is Congressman Duncan Hunter, who observes, “The idea of presenting strategies from leaders in our real estate industry to our elected officials in every level of government to advocate meaningful reform is an important step, and I’m proud to be a part of it. The participants at this symposium are industry professionals who are in the trenches everyday with their clients.”

The Blueprint for Housing Reform addresses three key areas of recovery: removing as much inventory off the market as quickly as possible; addressing regulations that overly-restrict lending and put a choke hold on recovery; and restoring confidence in America’s housing market. Hundley stresses that a robust real estate and housing market creates millions of jobs.

“Ultimately,” he says, “We hope to create momentum that educates communities via Real Estate Town Halls across America – where we can reach and teach realtors and Americans in every neighborhood on what they can do to bring back our housing market.”

Finding Financing in a Tough Mortgage Market

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home financing

You’ve undoubtedly read or seen news reports about how tight financing conditions are frustrating millions of homebuyers in their attempts to secure a mortgage. The coverage makes much of the fact that these homebuyers—who have stellar credit—are considered too risky for a mortgage, because they are unable to put 20 percent down on the purchase of their home. Although interested in buying a home, you may have seen these stories and thought to yourself, “If they can’t get a mortgage, I certainly couldn’t get one either!” Figuring you’d never be able to secure a mortgage, you may have thought that fulfilling your dream of homeownership just wasn’t in the stars. But this isn’t necessarily true.

If you’ve been weighing your options and decided that buying a home now seems like the right move for you, LGI Homes is here to show you that your goals don’t have to be derailed by bad mortgage news. Instead, smart buyers just like you are moving into brand-new homes, financed through low-rate mortgages that require little to no money down. We know, because we’re helping them do it every day, in many of our new home communities across the state of Texas.

When you hear about today’s tight lending market, much of that coverage pertains to private lenders, who don’t operate within the confines of loans backed by the Federal Housing Administration, or FHA. FHA loans are popular with first-time and moderate income buyers, because they require downpayments of only 3.5 percent, and have lending terms that are more lenient for individuals with prior credit troubles. LGI Homes has extensive experience helping home shoppers qualify for FHA loans, and our on-site mortgage specialists can answer any questions you may have about the process.

In addition to FHA loans, many homebuyers are taking advantage of USDA home loan programs that allow buyers to purchase a home with absolutely no money down. The USDA program incentivizes development in rural areas with populations of less than 20,000 people. Many of our LGI Homes communities, while conveniently located near major metropolitan areas, are situated in just these types of locations. Interested homebuyers can find financing through the USDA that requires no downpayment, has no maximum on house purchase price, and has lenient terms on funding for closing costs. LGI Homes has helped hundreds of homeowners secure USDA-backed financing for their brand-new homes… why not you?

To find out more about LGI Homes can help you finance your purchase of a beautiful and brand-new home, just contact us.