It’s summertime in Southeastern Wisconsin and the fields are coming to life with the bounty of summer. Homes of all shapes and sizes are also sprouting up in new and existing subdivisions throughout the area. The climate is right for building, and the MBA has put together a list of the top ten reasons to buy now:
10. More space. Today’s new homes are more spacious and well designed than ever before to accommodate kids, pets, hobbies, and the changing demographics of American households. According to the US Census Bureau’s annual report on the Characteristics of New Housing, the average size single-family home built in 2006 was 2,469 square feet.1
9. Energy and resource efficiency. New homes are increasingly energy-efficient and are constructed with resource conserving materials and techniques to save consumers money, protect the environment, and conserve valuable resources. Most newer larger homes will be more energy and cost efficient than a smaller older homes.
8. Amenities. When it comes to special features, the sky is the limit. From gourmet kitchens to mud rooms, luxurious bathrooms, home theaters and more, if a buyer can dream it, a builder can build it. Look for natural products to be incorporated into today’s homes. Walls of windows bring in plenty of natural light, soaring ceilings create an illusion of space, and low-maintenance materials help to keep homes looking great with minimal homeowner effort.
7. Subdivisions. Many of today’s neighborhoods focus on the amenities that homeowners can enjoy after their home is built. Conservancy subdivisions are on the rise, and homeowners appreciate the exposure options that are created when the developer works with the existing terrain and protects existing mature treelines. Walking trails and open space inspire a sense of community.
6. Equity. Over time, homes appreciate in value, providing a source of funds for education, consumer goods, retirement, and more. And if the owner uses a home equity loan, the interest on the loan is tax deductible.
5. Interest rates. For most consumers, the bottom line in a home purchase is the monthly mortgage payment. Mortgage interest rates today are near historic lows, helping to make homeownership more affordable.
4. Great selection. Builders in Southeastern Wisconsin have many models to choose from. If you can’t find a model that works for you, a custom builder can create a home that works with your lifestyle, preferences, and lot.
3. Tax benefits. Uncle Sam knows homeownership benefits the nation and encourages it through the mortgage interest deduction and deductions for state and local property taxes.
2. Lower Material Costs
The current normalization in the market has already resulted in a drop in the cost of lumber. In fact, material costs have declined or held steady and are currently at a five year low. For a typical 2,400 sq. ft. home you can realize a 10 – 15% savings in your lumber costs. This kind of savings may also be realized in other materials required in the construction of your home.
1. It’s a buyer’s market. Buyers are in the driver’s seat. There has never been a better time to build, remodel, or improve your home.
(Milwauke Builders Association, from their web posting http://www.mbaonline.org/homeowners/Top10ReasonstoBuyNow.htm)