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Financial

Waiting to Buy a New Home? Don’t — The Costs of Waiting May Surprise You

If you’re on the fence about buying a new home, it may be because of the hard costs involved. Rising mortgage loan rates, increased building material costs, higher construction labor and land prices are all legitimate concerns (although mortgage terms are not so much a factor these days, with such historically low rates). All in all, however, the longer you wait, the more you end up paying – and often getting less return. But have you also considered the “soft costs” of waiting? Yes, the costs in your safety, health, security, comfort, peace of mind, time and freedom!

Consider just a few factors that add up regarding the price of waiting to buy a new home. First, remodeling your current home, whether to bring it up to your current tastes or to make it more marketable for potential buyers. Then there’s the consideration of cleaning costs and general maintenance, including lawn care that you’d rather just hire someone to get done. How about major home components that may suddenly come up, like HVAC system replacements, roof repairs, termite damage, or plumbing and electrical failures? Those can add up quickly, when you least expect it.

There is a solution to these unknowns, and while it may not be top-of-mind at the moment, it should be: buying a newly constructed home. With the equity in your current home and today’s low mortgage rates, you may have little or no monthly payment. You’ll have the latest new home technology, energy and cost savings, and your own personalized style from the moment you move in. You may also enjoy the resort-style amenities of a new community that make your current neighborhood pale in comparison, yet you can still stay close to family and friends.

So, consider taking advantage of today’s favorable new home market, and moreover, consider Epcon Communities. Our new low-maintenance communities (with most lawn care included), with private, garden courtyards and some with resort-style amenities make the decision easy. And our single-level home designs make daily living easy, too.

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