The housing crisis may have put a damper on esisting home sales, but new home builders have found a way to compete in a very big way. And the homebuyers pockets are feeling all of the benefits!

Many of my clients who compare existing home sale with new home consrtuction are finding that it costs less to buy new than it does to buy existing.  Recently, some builders have become very agressive in the offers they provide to home buyers in order to attract the business and keep their companies profitable.  They are not only doing this by offering low prices, but also financing that is more attractive than most banks are offering.

The larger builders like Lennar Homes have their own financing companies and their own money to loan.  Recently Lenna Homes in the Waldorf, MD community of Glen Eagles, a subdivision of Fairway Village has been offering interest rates of 4%, all closing costs paid and free finished rec rooms as part of their incentive package.  With prices starting from the high $200s for a single family home it makes more sense to buy than it does to rent.  in fact, rental prices for comparable homes are higher than the average martgage payment, which also makes for a great investment property.

Another noteworthy builder-offer in the area is Berkshire Homes, now building in the Villages of Steeple Chase in La Plata.  Berkshire is offering No money down, all closing paid and monthly mortgage rates starting at $1371 per month for a 2 bedroom, 2-level town home.  You definetly cannot get into a rental home at this price.  Along with a community center, swimming pool, fitness center and nature trails, buying a new home in Steeple Chase is a no brainer for the homebuyer or renter who has little or no money to buy/rent.

It should also be noted these builders are Realtor-friendly, and allow Realtor representation at no cost the the homebuyer.  Fore more information on area builders, or to schedule an appointment with a builder, please call our office at 301-870-1717 x106.