Why Buy A New Home Now?

Why Buy Now

During these unsettled economic times, it’s easy to understand why someone wouldn’t want to buy a home now. And yet, for those who understand what they’re looking for, it could be one of the best times to buy.

  • This Is The Home Buying Golden Age – Years from now, when the financial crisis has ended and housing prices are up once more, many will look in the rearview mirror and realize that they missed the home buying golden age. Then, everyone who waited too long will kick themselves for not taking advantage of what may turn out to be the buying opportunity of a lifetime. Unfortunately, we do not know when this golden age will end, because we will only be able to identify a bottom with the benefit of hindsight. But as it does with the stock market, the moment usually arrives when everyone is feeling the most pessimistic.
  • Interest Rates Are At Historic, All-Time Lows – Home prices don’t necessarily move in unison with interest rates. Think about it—if you decided to wait to purchase your home, even a few months from now, and the home price were to actually drop from where it is today, you could still end up losing money! How? If interest rates were to move up just a half point during this time period, the savings on the reduced home price would be more than offset by the higher monthly payments you would be making over the life of the loan!
  • Outstanding Quality and Better Features – Almost everyone forgoes something, and probably several things, that he or she wants when buying a house. For instance, the home may be in a great neighborhood, but it’s not the right style. Or, it may not have an open floor plan. Now is the time to get rid of those negative “unchangeable” features and replace them with the better features offered in a J.A. Long Custom Home. Once the market really turns around, a custom home usually appreciates more over time.
  • Choices – When shopping existing homes, buyers have to take the previous owners’ style into consideration. Do you pay even more to redecorate or do you make do with someone else’s choices? With a new custom home, you have endless design, color, and material options. Having the luxury to tailor a home to your personal tastes can be one of the greatest pleasures of buying a new home.
  • Home Location – Location, location, location. Not only do new home buyers get to choose which beautiful new home community they want to live in, they also get to select their home site within that community. Would you prefer your bedroom getting morning sun or afternoon sun? Would you prefer to live near a park or on a cul-de-sac?
  • Homeownership Builds Equity and Creates Wealth – Homeownership is the single largest creator of wealth for Americans families. As with any market, there are ups and downs. However, over the long term, home appreciation has historically rose five- to six-percent annually on a national level. Additionally, homes are an outstanding hedge against inflation. In fact, homes have consistently beaten inflation since 1968, according to the National Association of Realtors.
  • Homeownership Lowers Taxes – You are allowed to deduct the interest on your mortgage payments, as well as your property taxes, from your taxable income, lowering your overall tax liability.
  • Homeownership Earns Profits, Tax-Free – Many homeowners have seen their homes double in value every 10 years. A couple that lives in their home at least two years and then decides to sell can keep up to $500,000 of the profit tax-free. To put that gain in perspective, a married couple would need to earn a combined salary of about $800,000 salary to take home $500,000.
  • Homeownership Provides Additional Lines of Credit – Many families elect to take out home equity loans to help put children through college, purchase a second home, make home improvements, start a new business, pay for medical costs, or take vacations. Interest payments on home equity loans are also fully tax-deductible up to $100,000.
  • New Home Warranty – New home buyers are assured at least a one-year warranty on the home itself and a 10-year structural warranty. That means new home buyers are assured quality construction in their new homes! There’s no second-guessing the work a previous owner might have done (or not done).
  • Energy Efficiency – J.A. Long is required by law to meet stricter energy codes than in the past, which benefits you, the consumer. This is an enormous cost-saving benefit when considering the costs of fuel and energy today. Many existing homes were built when energy codes were more lenient or nonexistent. However, your new J.A Long home includes the latest energy savers such as double-pane insulated windows, energy efficient heating and cooling systems and the latest insulation products (including TechShield Oriented Strand Board (OSB), innovative, cost-effective and environmentally smart wood-based structural panels.)
  • Wind Codes – J.A. Long is also required by law to meet stricter wind codes which mean that your new home has the latest windows and a threaded-rod hurricane tie-down roof system. Your new 35-year architectural shingles are installed to meet today’s wind codes. These features make your home easier and cheaper to insure.
  • Low Maintenance – Why worry about upgrading or constantly maintaining your home when you don’t have to? J.A. Long uses the latest and greatest materials that technology can offer. The result? Our homes are virtually maintenance-free for many years.
  • Appreciation – The typical home needs remodeling after 25 to 30 years. Since new homes have an assured longer life, appraisals are generally higher than on comparable existing homes. That means new homes typically sell for a higher value in the future.
  • Modern Appliances – Appliance manufacturers introduce new models every year and J.A. Long is able to offer the latest state-of-the art equipment. And, our purchasing power often reduces buyers’ costs.
  • A J.A. Long Custom Home Makes a Lasting Impression – When purchasing a J.A. Long custom home, you get all of the benefits mentioned above along with a beautiful new home that reflects your personality and style — a home that makes a first and lasting impression.
  • Great Buying Opportunity – In short, it is an outstanding time to be a homebuyer. Interest rates are at historic lows, home prices are down, and we have some great J.A. Long Homes on the market. Any or all of these favorable variables could shift at any time, increasing the cost of purchasing a home.