The Benefits of Master-Planned Communities

Categories: Sterling Lakes 1 Comment »

As we announced earlier this year, LGI Homes is both proud and excited to be one of the builders in South Houston’s beautiful new master-planned community, Sterling Lakes.

Sterling Lakes

While many of our prospective home buyers have also been excited at the possibility of obtaining high-quality, affordable homes in this stellar location, some have asked us, “What makes a master-planned community so special?” Today, we’re going to answer that question—along with some you may not even have thought of yet—and try to show you how a master-planned community isn’t just a good choice; it’s a great one.

What is a master-planned community?
A master-planned community like Sterling Lakes is a self-sufficient entity, focused not just on residences, but also on the host of auxiliary services that a thriving community requires. In the case of Sterling Lakes, residents will enjoy an exceptional location (located on Highway 288, and just south of Highway 6) along with leisure and recreational amenities built with family needs and modern lifestyles in mind.

What sort of amenities will Sterling Lakes provide?
Part of what makes us here at LGI Homes so excited about working within Sterling Lakes are the exceptional and attractive amenities that have been included in the area’s plan. From the $2.5 million Recreation Center Complex, to the walking trails and lakes, to the convenient bundled services (such as cable and internet) available to residents at low prices, and the safety and comfort of a fully guard-gated community. Sterling Lakes has tuned itself to what residents want, and left no detail outstanding in its effort to meet every need and desire.

Is Sterling Lakes really that much different than an existing community?
The answer to this one is both yes, and no. The beauty of a master-planned community is that it isn’t subject to years of whim and waiver by builders, residents, and local government. By being designed as a whole, the community follows a logical, comfortable plan that serves common purposes as well as individual comforts. While there are many existing communities that have grown organically into functional, pleasant places to live, we believe that master-planned communities like Sterling Lakes have an edge; at Sterling Lakes, residents are able to enjoy the benefits of owning beautiful brand-new homes, while luxuriating in the comforts, convenience, and sense of neighborhood that a fully-developed neighborhood can bring.

So how can I find out more about LGI Homes’ offerings in Sterling Lakes?
We’re glad you asked! LGI Homes is proud to offer six different floor plans in Sterling Lakes, ranging from 3-5 bedrooms. Best of all, prices to live in this community start at just $679 per month. You can find out more about Sterling Lakes in general—and LGI Homes’ houses there in particular— on our website.

Texas Cities Enjoy High Home Affordability

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Homebuyers researching mortgage costs are bound to be pleasantly surprised, thanks to interest rates that have been falling steadily for the past seven weeks.

Low Interest Rates

With 30-year fixed mortgage rates dropping to an average 4.5 percent over the past week, financing a home purchase has never looked more affordable.

As one of the main pillars of home affordability, this recent decline in mortgage interest rates means that borrowing costs for first-time and repeat homebuyers is at an all-time high. In fact, recent research from the online real-estate firm Trulia.com showed that it is actually more affordable to purchase a home than it is to rent in 78 percent of America’s major cities. This affordability has been helped enormously by rising rents and the continued drop in mortgage rates.

Texas had a stellar showing in Trulia’s research findings, with five of the state’s major metropolises landing in the nation’s 25 most affordable locales. The most affordable Texas city, Arlington, placed third on the list, and was followed by San Antonio at #11, El Paso at #12, Houston at #13, and Dallas at #16. Of course, those standings come as no surprise to us at LGI Homes, since we’ve been building quality and affordable homes in San Antonio, Dallas and Houston for years. And it’s also no surprise that we’ve recently begun following the affordability to Phoenix, Arizona, site of our soon-to-be announced newest community, and #2 on the national affordability list.

Working in concert with our preferred lenders, we’ve made the most of recent interest rate declines and have used government programs to work out fabulous financing for homebuyers in our communities throughout Texas. In fact, we’ve been able to help many of our homebuyers purchase brand-new homes with absolutely No Money Down, and have fitted them with mortgage payments that are often less than they were paying previously in rent!

If you’re interested in taking advantage of low interest rates and sky-high affordability, there’s no time like the present. Feel free to contact us, or just stop in at one of our communities, where our New Home Consultants are ready and waiting to answer your questions, and show you around your brand new home.

The Advantages of Buying New Homes

Categories: LGI Homes, San Antonio No Comments »

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’

New home

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.

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.”

For more information on the way today’s homes are built, visit an LGI Homes community in San Antonio, Houston, or Fort Worth.

Summer Maintenance Tips from LGI Homes

Categories: Home Maintenance 1 Comment »

Now that the first day of summer has nearly arrived, the lazy days of summer have truly begun. But before you get into a vacation mind frame, take the time to do some vital summer cleaning. Summer is the time of backyard barbecues, pool parties (if you are lucky enough to have a pool), or impromptu backyard picnics. So keep the outside of your home company ready with a few important maintenance projects.

Summer Maintenance: Time to clean the gutters

This past winter and spring brought unusually turbulent weather and moisture is not a homeowner’s friend. Check for any problems by carefully inspecting your home’s foundation, both inside and out. Repair any cracks you may find using caulk or cement. If you come across any areas where the ground has eroded away from the wall, fill them in with fresh dirt. Just make sure to slope the dirt away from the foundation, to prevent water from pooling up next to the foundation during the next storm.

Next, clean out the gutters and downspouts, and if you spot any places where winter snow has soaked through boards, replace them to prevent future rotting. Replace damaged siding that can’t be fixed and any broken roof shingles. If you have a deck or porch, check the integrity of the planks, replacing any that have warped or are damaged. Inspect your patio and use a quick drying cement to repair any cracks.

Once that is done, give your house a refreshing power wash to remove accumulated dirt and debris. A power wash can also eliminate mildew and help prevent mold from gaining a foothold. If you are feeling ambitious, and have owned your home for a number of years, you may want to add a fresh coat of paint to the exterior.

By taking a couple of weekends to perform regular maintenance and refresh your house now, you’ll save time and money down the road—and have a picture perfect house inside and out.

New Home Buyers May Need to Buy Quickly

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Prospective new home buyers may not want to wait on that LGI Homes house—Congress is now considering a bill that will raise the minimum down payments required to buy a home, and lower the amount of money that can be backed by Federal Housing Administration (FHA) loans.

Real Estate: New Home Buyers May Need to Buy Quickly

The proposed changes remove some of the government’s real estate market supports put in place during the recent economic upheaval, which were designed to keep the housing market afloat through crisis times. This withdrawal of government support, however, is facing opposition from real estate agents, new home builders, and mortgage bankers.

As the primary mortgage lender for first-time home buyers, the stake which the FHA takes in the mortgage market makes a huge difference. Currently, homeowners can take out FHA-backed loans with a minimum down payment of three and a half percent. The draft bill being circulated by Rep. Judy Biggert (R., Ill.), would raise that minimum to five percent. Dow Jones reported that Biggert said the proposal “would ensure accountability and financial stability within the FHA program.”

Representatives from the housing and banking industry did not agree. Ron Phipps, president of the National Association of Realtors said raising the minimum deposit “does little to reduce risk of default compared to strong underwriting requirements, and only puts home ownership out of reach for many families who have the income necessary to carry the cost of the home purchase,”

Mortgage lenders are opposed to the recent proposal as well. Michael Berman, chairman of the Mortgage Bankers Association, explains that cutting the limits “would drastically deny access to credit for many otherwise qualified lower and middle class borrowers. We need to be very cautious in enacting these proposals, given the continued weak state of the housing market.”

Biggert, however, argued for a reduced federal role, saying that “the private market can’t function when it is crowded out by the federal government.”

The FHA doesn’t make loans but insures them against default. According to trade publication Inside Mortgage Finance, loans backed by the FHA made up nearly 18 percent of new loans made in the first quarter of 2011.

West Meadows in Baytown: Big City Living with a Small-Town Feel

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Houston is a fabulous place to live, but trying to find your own space in this sprawling metropolis can feel daunting.

West Meadows

We all want to live close to the city centers where we like to work and play, but we often crave a smaller-town feel in a neighborhood where we can really be at home. To that end, LGI Homes is proud to announce the opening of one of our newest projects: West Meadows in Baytown, where homeowners truly can have it all—starting at just $679 per month.

West Meadows offers exceptional access and proximity to the heart of downtown Houston, while giving residents a real sense of their own community, nestled within the greater Houston area. Oversized lots and generous floorplans give our homeowners space to thrive on their own property, while family-friendly community attractions like a playground, walking trails and a neighborhood park make coming together with friends, family and neighbors both easy and fun.

Homes in this newest LGI Homes community range in size from 3 to 5 bedrooms, and offer at least 2 bathrooms; a 2-car garage and a utility room are also included. These new homes in Houston also come with over $10,000 of interior upgrades included in the affordable sales price, such as custom cabinets and quality appliances (including a refrigerator!).

But these new homes aren’t just beautiful; all LGI Homes houses are also built with a commitment to quality and value. And when you buy with LGI Homes, our award-winning construction quality and our confident homeowner warranties mean that you can rest easy while you enjoy life in your new home and your new community.

With West Meadows, LGI Homes has once again shown that living in a big city doesn’t mean we have to give up our small-town dreams. It just takes the right builder in the right place to make having it all possible again. Stop by our new West Meadows community soon to see how we can make your dreams come true. We’ll be waiting for you.

Pride of Place at Luckey Ranch

Categories: San Antonio No Comments »

LGI Homes is pleased to announce the grand opening of an exciting new community in the San Antonio area: Luckey Ranch.

Luckey Ranch

This one-of-a-kind development offers affordability, a convenient location, and huge recreation and activity options, all starting at just $699 per month.

Luckey Ranch homes are built with the same care, sense of value, and attention to detail given to all of our LGI Homes houses. Our newest community has a number of exciting and adaptable floor plans available, with homes ranging in size from 3-5 bedrooms, and all offering at least 2 bathrooms. Quality interior upgrades and outdoor touches like fully-fenced backyards and front-yard landscaping make LGI Homes at Luckey Ranch ready for you to move-in and make yourself truly at home.

In addition to our commitment to affordability and quality, we focused on another real estate imperative with Luckey Ranch: location, location, location. Luckey Ranch gives homebuyers a tremendous opportunity to live at the heart of where they want to be for both work and play—near Lackland Air Force Base, and the Toyota Manufacturing Center, as well as Sea World, restaurants and major shopping attractions.

Active households will enjoy plenty of recreational activities inside their own community, whether it is fishing or kayaking on the lake, partaking in a quick game of pick-up on the full-sized basketball courts, or taking in the beautiful landscaping from our manicured walking trails. In fact, Luckey Ranch will be the site of a $2 million dollar recreation center that gives residents family-friendly and community-centered amenities in the heart of their own neighborhood. Try finding that sort of planning and design in an older existing community!

As you can see, LGI Homes has much to be proud of when it comes to their newest new homes community in San Antonio. Sure, we could build quality homes at great prices just about anywhere, but we’re committed to building only the best homes in the greatest locations. And Luckey Ranch offers just that. So we invite you to stop by our offices any time, and let one of our New Home Consultants show you around. We think you’ll find Luckey Ranch to be just as exciting as we do. See you soon!