Now that the new year has started, new home shoppers can cash in on some major savings at the start of the year. You can save on your new home in 2019 by taking advantage of falling interest rates, builder incentives and closing cost assistance. In most cases all of these savings can be stacked to maximize savings.
Falling interest rates to kick off this year means more buying power in a consumer’s pocket. According to a study by Meyers Research, the nearly 50 basis point drop in mortgage rates over the past seven weeks translates to 5% more consumer buying power. “As the graph below shows, the reduction in rates can result in consumers being able to add as much as $30,000 to their purchase price for the same monthly payment as when rates were at their highest in November for the markets we covered.” What does this mean for buyers looking for a new home? Buyers on a fixed monthly budget that were at their maximum budget and thought new construction was out of their reach can now afford it. Buyers that really wanted to upgrade to a gourmet kitchen or a deluxe master bathroom now have the buying power to make their dream home a reality with these options. Buyers that are looking to purchase a larger home can now do so for their family to sprawl out.
Buyers can further save on their new home in 2019 by taking advantage of closing cost assistance from their builder. Many builders don’t offer to do this for their buyers, some even force buyers to pay both sides of the closing costs. Maronda Homes and their partner mortgage and title companies offer to pay new home shopper’s closing costs if they use the preferred mortgage and title companies for their loan and closing. The amount of the closing assistance will vary by area, but buyers can expect to cash in on some big savings when they go to close on their home. This can be as much as $4,000 to even all their closing costs depending on the community they purchase their home in. Consult your local community representative to get more information of what you qualify for.
In addition to savings on interest rates and closing costs, many Maronda Homes communities will also offer buyer incentives on inventory or to-be-built homes. These incentives vary by location, but can include discounts on options, additional closing cost assistance or deep discounts on homes ready to move into right now.
We invite you to discover our new communities and move-in ready homes to find your new dream home. Take advantage of our discounts and stack your savings to save on your new home with us in 2019! At Maronda Homes we strive to give Affordable Luxury, and we dare you to compare us to our competition.