Posts In Rent Vs. Buy

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Why Buy New?

September 29, 2022
The home buying process involves a lot of decisions.  One of the biggest choices to make early in the process is whether to buy a new or a pre-owned home.  Take a look at some of the advantages of purchasing a brand new home:A pre-owned home was someone else’s dream, not yours.  Why settle for someone else’s design choices when you can select your own favorite cabinets, countertops, appliances, carpets and flooring?  Design your dream home exactly how you’ve always envisioned it! Create new memories in a new home designed by you with personal touches that make you happy.  Antares Homes has a Selection Studio specifically created to make your dream become reality!When buying your home, the home design and layout should reflect your lifestyle and personality.  Buying a new home allows you to do just that and Antares offers many flexible home designs and options.  Consider the functionality of a new home.  How does the home design work with the way you live your life?  If your current home doesn’t meet these criteria, you have probably already considered remodeling.  Renovation costs on an existing home are very expensive, time-consuming, and sometimes can expose hidden issues you were not expecting to find.New home warranties are in place for a Home Buyer’s peace of mind.  A 10-year structural warranty begins the day you close on your new Antares home.  We are very proud to be part of the StrucSure Home Warranty program, allowing us to build your home with confidence.One of the biggest advantages to new home ownership is the advancement in energy efficiency.  Typically, existing homes cannot compete in this category when compared to today’s new homes.  Antares Homes goes a step further by offering a 2-year guarantee on your heating and cooling energy usage.Compared to a pre-owned home, a new home generally requires less maintenance. It’s quite simple, everything is new! No need to have to worry about repair costs on aging items in a pre-owned home such as plumbing, electrical, HVAC components, or appliances. Keep your hard-earned dollars where they belong, in your pocket!
Why Buy New?

Why Buy? The Top Benefits of Buying Instead of Renting

February 23, 2021
It’s a common question: Should you buy or rent a home? Unfortunately, there isn’t one right answer to this. A lot depends on your financial situation, home prices in your area, and a number of other factors. However, there are some solid reasons why buying is a better option than renting. Especially right now. Here are a few benefits of buying a home that might sway you to making the jump from renting to owning.No Unexpected Rent IncreaseAnyone who has rented the same place year after year knows the dreaded rent hike. While you can predict an increase in your rent, it’s hard to know how much to expect each year. When you buy a home and lock in your interest rate, your mortgage payments will remain the same throughout the life of your loan. No unpleasant surprises, no extra fees added on. Predictable payments can be lifesavers.  Never Sacrifice Your Deposit to Paint a RoomThe creative freedom of owning a home is incredible. You can paint the walls any color you want. You can replace carpeting or put in a hardwood floor. You can put up shelves, remodel the kitchen, even plant trees and build a deck. All without worrying about losing a rental deposit. You can truly make your home yours when you buy.Don’t Forget About the Tax BenefitsHere’s another reason to own a home: You can save on taxes every year! Deduct mortgage interest and property tax on your tax return every year, which can make the monthly mortgage cost the same – or even less than – renting.  Two Words: Home EquityYour home equity is the amount of money you’ve paid toward your loan, including your down payment. That means you can build equity just by making payments every month! And you can use that equity to remodel your home, pay for college, or pay down debt. Just by renting instead of buying, you’re losing out on valuable equity.OK, so Buy Instead of Rent When Possible. But Why Now?Right now, home prices are rising while mortgage rates are staying low. Historically low, in fact. However, home prices are increasing higher than mortgage rates are decreasing. If you’re looking to buy a home now – or still in the decision phase – you might want to take advantage of this unique situation. As the economy shifts in a post-COVID-19 world, we might see house prices jump up and mortgage rates following.Choosing to transition from renting to buying is a big step. There are a lot of long-term benefits of buying a home that aren’t available to you when renting. For future planning, building equity in a home and investing in your future – rather than paying your landlord – is a smart route to take.

Why You Should Build – Not Buy – A New House in a Strong Market

July 10, 2020
Are you thinking about entering the housing market? Right now, the market is in a strange place: Low mortgage rates are driving people to enter a market with a decreasing supply of available homes. For prospective home buyers, this can be daunting. On the other hand, home builders are surging. People are turning to building, the ideal home that better suits their family’s changing needs. Here are a few reasons why now is the time to ditch used-homes and instead build your new home.The National Existing Home Inventory is ShrinkingThere are fewer houses for sale in the U.S. right now, which means competition is fiercer. June housing data shows the inventory of newly listed properties has declined 19.3% over the last year. And this number continues to dwindle as the months go on.What this means for home buyers – or people deciding between buying or building – is that they should expect to pay more for existing homes right now. According to the same housing data, the median listing price in June was $342,000, which is 5.1% higher than the previous year. Housing prices continue to rise as inventory shrinks. But there’s another factor that makes building a home much more attractive right now… and that’s low mortgage rates enticing buyers to enter the market.Low Mortgage Rates Are Bringing More Buyers into the MarketIn July, according to the Mortgage Banker Association’s latest data, the 30-year fixed-rate mortgage rate fell to a record low of 3.26%. And predictably, home loan applications surged in the first week of July. More people are able to secure low-rate mortgage loans and enter the market, which further exacerbates the dwindling house inventory and skyrocketing home prices.If you’re on the fence about building or buying a home right now, consider what the process of buying a house in this market might be like. If you’re not ready for the bidding wars or settling at the higher end of your budget, consider building. Buyers turning to new construction homes is happening more than you might think right now.Builds Are Increasing Across the U.S.More Americans are working from home right now than ever. Some companies are transitioning their workers to the office in shifts, with people working just a few days a week in the office. Others are scrapping in-office work entirely in favor of telecommuting for the foreseeable future. If you’ve found yourself thinking about your home as a place for your family AND your business, you’re not alone.Housing production is growing. The U.S. Department of Housing and Urban Development and the Commerce Department report that in June, housing starts increased by 8.3% nationwide. Single-family home builds increased by 6.3% -- its second-highest rate of the year. In addition to concerns about housing prices and smaller inventories, people are opting to build because they are investing in their future.There are a lot of reasons to choose to build rather than buy a used-house right now. If you’re looking to make the switch to a new home, take the time to figure out what your family needs. Building your house allows you to create spaces that are perfectly suited to your needs, whether it’s a floorplan made for entertaining, a walk-out basement, or a quiet home office. Whatever you need, your newly built home can provide. Historically low-interest rates may help your dream of building a new home be more attainable.

To Build or Buy Used? Buying New is the Better Housing Option

March 28, 2020
It's a question you’ve probably asked yourself in your home-buying journey: Is it better to buy an older home and renovate it, or build a new home? Maybe you’ve looked at a few used houses already and saw the costs of updates stacking up. Or maybe you’re concerned about the amount of time it would take to wait for a new build. We looked into it so you wouldn’t have to. Renovate or Buy New: Cost The initial price tag on a new home is higher than an older home. But that doesn’t mean the cost savings of that older home will stick with you for long.  By the time you add in all the things you need to change to make that home suite your style and lifestyle needs you may not be saving any money. Older homes tend to be less energy efficient, so they’ll cost more to heat and cool. And, depending on the state of the older residence, you may be reaching into your pocket to pay for updates sooner than you expect. When we dug into the numbers, we found that buying new makes more financial sense than buying a home that needs serious remodeling. That’s not even taking into account unplanned upgrades or issues. Which leads us to… Buy New or Used: Repairs, Replacements and Upgrades Here’s a big pro of buying a newly constructed home: No need for repairs or upgrades for the foreseeable future. That’s because you picked the layout, the flooring, the colors, everything ahead of time. Your bathrooms and kitchen are in pristine condition. The same can’t be said about older homes. You might need to think about replacing the hot water heater, HVAC system, or roof within the first few years of living there. Or you might need to do some serious renovations early on to fit your family’s needs. If you’re not a lover of home projects – and don’t want to deal with living in a construction site for a chunk of time – then you may want to seriously consider buying a new home. Buy New or Used: Does Your Home Match Your Lifestyle? Some renovations are doable, such as replacing your kitchen countertops or even adding a half bathroom. But others aren’t so easy, like adding on bedrooms or expanding a living room. When looking at homes, you need to make sure you pick one that fits your lifestyle. That means a house that can easily support you and your family (no matter the size). A new home is the clear winner when it comes to finding a match for your lifestyle. You can design the perfect home to fit your family’s needs, whether it’s an expansive kitchen for entertaining, enough bedrooms for everyone in the house, and a backyard big enough for all the activities you love. No compromising needed. Building a new home is the less expensive long-term option. There should be no hidden costs or unexpected repairs for years after moving in. That means no move-in renovations, no “dealing with it” for a while, and no frustration trying to fit your lifestyle into your older home. We did our research on buying an older home and remodeling it, but honestly, building a new home is the better option to fit your needs, your budget, and your expectations.
To Build or Buy Used? Buying New is the Better Housing Option
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