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Now is the Time to Buy New Homes in New Castle County


2017 is shaping up to be an excellent year for those looking to purchase a new home. Interest rates are still at historic lows on 30 year fixed rate mortgages. Even larger government-owned mortgage companies such as Fannie May have begun accepting larger mortgages for the first time in over a decade, making it easier for buyers to secure the financing they need. If you have been browsing new homes in New Castle Country, here are three other reasons why now is a fantastic time to purchase:

 

Tax Breaks

 

Everyone loves them! When you own a home, you are eligible to a tax break on the monthly interest that you pay on your loans, property tax, and other home-related costs.

 

Rent is Skyrocketing

 

When rent values surpass home values, it becomes more affordable to be a homeowner.

 

Prices Are Stabilizing

 

The market has seen home prices stabilize and the climbing costs have slowed down. Leveling prices mean that home buyers have more room to negotiate with sellers, even in markets that are quite competitive.

 

Low Down Payments

 

If you take a loan with The Federal Housing Administration, down payment amounts can be as little as 3.5%, even if you do not have great credit. With fees starting at just .85%, owning a home sooner is within many people's reach.

 

Experts are predicting a strong housing forecast for 2017 and into the next several years. Many newly constructed homes will be available as there is plenty of growth with 2016 showing an increase of 5% of new homes built across the country.

 

If you are ready to begin your search for a new home, contact us today!