By John Marsett
For most Americans, the single most important purchase that you will ever make is your first house. And, like any investment, the profit is not made when you sell it, its when you buy it. So, making a solid investment is very important when there are many affordable new homes on the market. You should consider various housing options that not only include low monthly home payments, but also the ability for your investment to grow in the location you choose.
One of the first things to conisider is the myth that affordable new homes don’t really exist. In fact, you may be surprised to learn that it may be wiser to buy a new home than buying a fixer upper. With many companies coming up with new and creative financing structures, you may find that you can even build your own house for relatively little money.
While the dream of building a custom home is ideal for some - others simply want to find affordable new homes that are in move-in condition - like the ones you see in the new subdivisions all over town. If you ask anyone who has ever built their own home, you will hear that there are many things that can go wrong during a new house construction project. Another thing to consider for thos who wish to build their own home (as opposed to move-in condition) is paying for construction
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and your current housing payments while waiting for the project to be finished.
There are brand new houses being built in every housing market that use quality building material and are ready for the occupants to move right in. It can be pleasantly suprising when you discover the many options available to potential homeowners who are in the market for affordable new houses. The markets have changed, and mortgages have changed. It is no longer the case that you have to buy an older house to be able to meet your monthly payment obligations.
In not too few situations, an older house can cost you quite a bit more in updates, utility costs, and repairs. You may find that your payment is affordable but you have to come up with a lot of money for renovations and updates (such as windows, insulation, siding, etc.). The repairs can add up very quickly and you could wind up spending a lot more than you anticipated.
Most new homes are built under certain efficiency standards that were not required 10 - 40 years ago. While there is something quaint and warm about an old home, like anything old, it will soon need a face lift. While an affordable new home isn't perfect, the purpose of this article is to help you consider that a new home may well be within your budget.
John is a real estate investor and has helped many individuals get into their first home. He has helped people through lease options and finding qualified lending through mortgage brokers.
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