We know that interest rates have gone up. We've seen the negative headlines about the housing market and the fear that people may have. However, we want to share why now could actually be a great time for you to buy a home. Below is a list of pros and cons we've made.
Current Interest Rates
Interest rates are currently higher than they've been over the last few years. After the pandemic, rates are going back to "normal." The average interest rate over the last 50 years, is close to 8%.
Buyers' Market
When interest rates were lower and demand was up, we as the builder/seller offered less choice to our customers. Now that demand is lower, we have the ability to be more flexible whether that be special financing incentives or what goes into your home to fit your unique needs.
Builder Paid Buydowns & Incentives
Our new preferred lender, Better Built Mortgage Group, has several new incentives available including 2-1 buydowns, thousands of dollars off closing costs, and rate locks. These tailored plans created by our mortgage coaches for your certain financial situation will bring your monthly payment down by hundreds of dollars.
Safe investment
Although the market is uncertain, investing in a home is one of the safest and smartest investments you can make. When you own a home, you are gaining equity every day. The stock market can be risky, owning a brand-new home will never be. As of June 2022, the average home has gained 38.33% in value! No matter what happens with the housing market the value of a home will continue to go up.
Home prices
The price of homes has adjusted to the current market. Your friend that bought last year might have locked in a lower interest rate, but the price of their home was higher, they had little to none financing incentives, and we're settling on homes that might not have fit their unique needs due to the high demand of people buying.
Quick Move-in Homes
Creative Homes has a variety of completely Move-in Ready homes throughout the Twin Cities and Western WI! We're continuing to build homes to increase the supply in our market and give buyers more of an opportunity to find exactly what they're looking for without having to wait eight months to complete a build. These Quick Move-in homes are perfectly clean, energy efficient, innovatively designed, and include a builder warranty. View available homes to buy here.
Creative Homes' Buyer Confidence Program
Our brand-new Buyer Confidence Program gives you the certainty you've been looking for including price protection and more. View the details here.
Now is the time to move forward...
As soon as interest rates go back down, the pent-up demand will come flooding into the market. Don't wait for this! These next few months are the perfect time to take advantage of your buying power and work with us to find your dream home.
If you have any questions or are looking to learn more about taking advantage of this unique time, Olga is here to help!
Creative Homes put together our dream home! We were so nervous about the process and making the wrong decisions, but they were there to make everything turn out perfect. They went above and beyond to make our needs met!
I want to take a minute and write to you to express our gratitude for you and the whole Creative Homes Team. You made our dream come true, and every time I enter our new home I cannot believe it is ours. Thanks again!
Best quality and people to work with. This is the 4th home I have built in my lifetime and by far the best of the best.
