With housing prices falling, purchasing a brand new home is a great investment or those who can afford it. A more buyer favorable housing market means more ROI for you which is always a good thing when purchasing anything and especially housing.
But there are a number of hidden costs involved when purchasing a property – you say.
You may find that more affordable homes can be the older ones, with an older structure there is a high chance that this home will need you to get some amount of work done to get the home up to code. At this point, you may see how something that seems like a great deal can turn out to actually not be. You don’t want to purchase a home that ends up being a money pit and that is reason # 1 to Purchase a Brand New Home – you will get Value for Money. What are things to look out for when looking for your new home?
With new construction, this typically means you are getting a brand new home in an up and coming area. This can mean a lot of benefits which include;
Good school districts
Low crime rates
New Appliances and Warranties
When purchasing a new home, we here at SilverBeam Homes provide a warranty on the property. We do this because we are certain of the quality of our homes and all the materials, techniques and technology that we use to build you a strong, safe home for you and your family. Also, any appliances included with your purchase have never been used and so you don’t have to worry about them conking out within the first month. And that gives you reason # 2 to buy a new home – Peace of Mind.
A Custom Built Home
Here at SilverBeam Homes, we offer you the option to create a customized home that will intimately and precisely meet the needs of you and your family. This is not something you can get when you purchase an older home. And that is reason # 3 supporting why you should purchase a brand new home – The Ability to Customize the Home. You can choose your location, choose your floorplan and choose your amenities.
When it comes to purchasing a home, it is not always smooth sailing. Statistics show that 1 in 5 homes get canceled at closing. So new homes will often offer you a better price and less stress as closing can be done as soon as the next day. You see in these instances, the builders are motivated to sell. We may even have a discount we can offer if you are willing to close earlier.
Choose the Seller’s Mortgage Company
Going with the mortgage company that your seller works with can help to streamline the entire process. This makes the builder more comfortable as well as it helps the entire process to go through faster and smoother. You may even get some sort of discount or additional offer that make the deal even a little bit sweeter. Opt to ask for other partner companies that the builder works with. These may be companies you need for other things related to purchasing your new home and getting settled in there.
So you bought your first home! Congratulations, we are super happy for you to have reached this milestone in your life. But what do you do now? We know you are tempted to purchase all the home goods at all the home goods and furniture stores but wait, let’s hold off on all of that for right now. Yes, we understand that your new home is a new start and filling it with a bunch of new things feels like the right thing to do. But let’s face it, there are monetary constraints and it makes no sense to put yourself into debt with a house full of brand new items. So what do we suggest should be the new purchases for your home? Keep reading to find out.
Lighting is a very important factor in every home. In most cases, each room will require different levels of lighting based on how it will be used. Your office may require more lighting than your TV room for instance as well as your bathroom may require more lighting than your bedroom. The fact of the matter is you will need lighting before you attempt to move anything into your new house so let’s start here.
2. Window Treatments
Window Treatments – the jury is still out whether you should take care of lighting before you take care of the window treatments. These window treatments can really add some happiness to an empty room and they can also keep outside eyes from seeing what’s going on in your house while you are unpacking, moving in, sorting out your space. They can also keep the wandering eyes from knowing that your living room is still empty even though you moved into your new home three months ago. I hear you though, you haven’t got the color scheme and design all figured out yet. You can start off with basic window treatments that are only for allowing privacy. Get some drab drapes or some basic blinds until you have your full design figured out.
3. Side/End Tables
Side/End Tables – you never realize just how important these little pieces of furniture are until you have nowhere to place stuff. The great thing about these is even if you haven’t decided on your design theme or color story you can find neutral tables that can later fit into your chosen theme or story. These tables are very versatile and as such provide you with an exceptional bang for your buck since they can be placed in every room in your home.
4. The Necessities
The Necessities – now we cant list these out for you as these are different for each family. You will need to take stock of all home items you already own and first get those into space. Remember you can always change out into new things later, but for right away we want you to take all functional items that are still working and move them into your new space. Its all about making responsible fiscal decisions. Choose necessities that you don’t currently own and start with those purchases first.
While we understand that each homewoners needs are different going into their first home this list is a great place to start. It wont be a complete list for many and there may even be unnecessary things on there for some but it gives you a good idea to start off your new home purcashing or wish list with.
After a 2018 survey, it was found that residents of Metro Vancouver wanted to see a reduction in the cost of homes. Fast forward to May 2019 and we can safely say that they have been granted their wish. Even so, there are some people who simply cannot afford to purchase a home.
If you are one of those, you don’t have to worry about giving up on your dream of owning a home. Co-ownership of a home can provide you and a friend or family member the ability to meet your dreams. What is co-ownership and how can you go about getting a co-owned home?
What is Co-Ownership?
With co-ownership of a home, there is a difference from that of a shared home as in a husband and wife situation. With co-ownership, you can split the homeownership percentage however you find necessary for your situation. So it could be split 50/50 or it could be split 30/70. A co-ownership even allows you the option to have separate mortgage payments. This is one of the high points of this type of arrangement. Especially if you are going into this deal with a friend. In such a case it is understandable that you will need a clear separation. This includes separation of ownership and expenses related to the new home.
Challenges of Co-Ownership
Co-ownership can help you find a way to own a home but it can also have its downsides. Though you get to explicitly determine how much percentage of the house each owner gets there are challenges. It will be hard to draw these lines physically in the home space. This is due to the fact that many homes are not designed for co-ownership and as such there will be a lot of shared areas. The best way to forego this challenge is to choose to build your co-owned home from scratch. That’s where us here at SilverBeamHomes come in. Check out our process and get in touch with us so we can help make your dream of owning a home a reality.