Buying a home is a big scary decision even if it is not your first time. With all the recent news about interest rates, rent increases, and homes quickly selling, you probably have lots of questions. Ivey Homes would like to help with a few benefits to buying a new home now, it is time. 

First, remember, you are not alone!  Buying a new home has many benefits, some you might not realize like finding a community that supports you and your family, becoming lifelong friends with your neighbors, having a space to call your very own, and when buying brand new, knowing you are the very first person to walked the halls as it's homeowner. 

Mortgage Rates Remain Historically Low

Did you realize that even with all the talk of higher mortgage rates as the pandemic recovery continues, they are still lower than historic interest rates? Today's average mortgage rate is below the average of almost 8%

A Variety of Payment Options

Every homebuyer's situation is different, and there are several loan types and products to choose from when buying a new home. Adjustable rate mortgages are sometimes overlooked but are a good option for buyers that are not going to be in the home for a long time. They offer lower fixed rates for the first 5, 7, or 10 years. Should a buyer's situation change and they do stay longer, they can simply refinance before the shorter term is over. Fixed-rate mortgages assure the rate will be fixed for the life of the loan, this may be a good option for buyers who know they will be in the home for a long period of time. 

Selecting the best new home mortgage is important and Ivey Homes works with many local preferred lenders that offer a wide range of loan options and programs to fit all needs. 

• Buying down the interest rate lowers your monthly payment. Buy downs can be temporary or for the life of the loan, depending on the program.
• Rate locks are available to lock the rate while your home is under construction. These are sometimes at no cost depending on the preferred lender.
• Ivey Homes offers you a Your Home Your Way Credit ($4000 in most communities) that can be used for closing costs. Some preferred lenders are also offering lender credits and other benefits for Ivey Home buyers.  
• The Ivey Elite Homebuyer Program also offers qualified new homebuyers extra incentives and perks, including a cash back buyer reward.  

Rent vs. Buy

Rent prices will likely continue to increase. Since 2019 Columbia County, GA rents have increased by over 19% and Richmond County, GA over 17%. (Souce) Purchasing a new home locks in your payment and purchase price and helps homeowners build wealth through home equity. Even with the rise in the cost of living, owning a home helps give predictability to monthly expenses and ultimately the peace of mind that you have a place to call home. 

Ivey Homes is a leading new home builder in Evans, Grovetown and Augusta, GA, and North Augusta, SC, with townhome and single-family home pricing ranging from the $220,000’s to mid $500,000’s. For more information about living in or building a new home in Columbia County, Richmond County, or Edgefield County, visit iveyhomes.com! Connect with us on our Facebook page and Text: IVEY to 77848 for convenient updates. SEARCH NEW HOMES