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What Builders Don’t Want You to Know!

What Builders Don’t Want You To Know!

First before we get into what they don’t want you to know, let’s talk about those incentives they are currently offering from now until January!

All builders are different, it all depends on the type of home you are looking for, your budget and location desired!

Here are some of the current incentive builders in the area are offering:

Lennar Home: Blowout Sale! 7/6 ARM rate as low as 4.75% (6.902% APR)¹ + receive up to a $80,000 Price Reduction.² Discover some of their best deals of the year on select move-in ready homes during the Blowout Sale. ¹ This 7/6 Adjustable-rate mortgage remains fixed at 4.750% (6.902% APR) for the first SEVEN years of your loan. Starting in year EIGHT, the rate can adjust every six months based on index changes. Offers available on select move-in ready home in the greater Jacksonville area if buyer signs and delivers a purchase agreement between 11/01/23 and 11/30/23 and close by 12/31/23. Interest rate offer requires financing through Lennar Mortgage.

Dream Finders: Dream Finders is upping their game with a 2-1 rate buy down offered in select move in ready homes. How does it work? Dream Finders Homes will pay down your interest rate for the first two years of your mortgage, effectively saving you roughly $8,952 in mortgage payments during that time period. From year three until the end of your mortgage, you’ll enjoy the security of a fixed rate at a low current market rate of 6.50% (7.286% APR). And if rates drop in the future, you can take the opportunity to refinance.

David Weekly Homes: Receive up to 30k in flex cash towards interest rate buy down or closing costs On select homes that are to sell by January.

Riverside Homes: Receive up to 15k towards interest rate buy down or closing costs on select homes.

Toll Brothers:For a limited time only and subject to mortgage rate availability, Toll Brothers is offering a special 5.99% (6.05% APR)* 30-year fixed interest rate on select quick move-in homes eligible to close by January 2, 2024.

Providence Homes: Receive up to 15k towns closing cost or rate buy down on selective homes that are sent to close by January.

All incentives are based on credit scores, down payment, completion date, and of course having your favorite Realtor Demi Judd negotiate more saving for you!

Now, What exactly do builders not want you to know…..

  1. You can and Should bring a realtor to represent you. One of the big secrets when buying new construction is that you can (Should) have a realtor representing you during the buying process whether the build has 13 months or 30 days until close. If you contact a new home builder on your own, you lose the right to have someone represent you during the construction process, making it harder for you to negotiate your contract and to deal any issues that might happen during the period between signing your contract and when your home is completed. Not to mention the lack of communication that may happen because of the lack of assistance from the site agent after signing….
  2. Buy during the end of the business quarter. If you want a great deal on new construction make sure you look for those close out deals on home. At the end of the year builders have to meet numbers that they were given at the beginning of the year. Sometimes to meet those needs that go ABOVE and BEYOND to sell them!
  3. You can and should have a pre-move in inspection. Getting an inspection done is always an important step in the home buying process. It is vital that you have this done before you move in because then the builder can provide you with a promise to complete for any issues that may arise or in some case repair any code issues. Remember, many new home builders agree to fix problems that occur before moving in, but that doesn’t mean that you’ll able to get your deposit back if you are not satisfied with the quality of the construction if you have to walk away from the contract.
  4. Delays will happen! I am sure you can imagine building a home takes time. Unfortunately, new home builders are not allows honest about how long building a home will take. While the builder will certainly quote you an average time that it takes to build a house, this time frame rarely included the kinds delays that commonly happen during construction. It is a good idea to find out the worst case scenario when it comes to having a new build home.

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