Home prices and sales rose in April, and that's good news for home owners and home sellers.
The National Association of Realtors said yesterday that the nation's sales of previously owned homes rose a surprising 7.6 percent last month. This is the best showing in five months and far better than what economists had predicted. The Midwest did even better than most of the country. Sales here rose 9.9 percent.
The increase in sales sparked a rise in home prices. The median price for homes sold rose to $173,100, up 4 percent from a year ago.
Tuesday, May 25, 2010
Wednesday, May 19, 2010
Balance Cost and Quality In Your New Home
How can you get the best for less when building a new home? Work with a builder who respects your choices and is dedicated to serving you. A cost-conscience builder will provide you with the best materials aligned with your budget and design preferences. He (or she) will watch for waste and excess on your behalf.
Here are several home building options buyers can make to contain cost yet still enjoy a quality, custom-built home.
• Check into the cost of permit and impact fees for new homes in the area. Some towns may have fees as high as $25,000 for a new family home, while the neighboring town’s fees might be under $10,000.
• Choose a lot that does not require blasting or clearing, does not have a high water table, has access to electricity, gas and sewer.
• Because square or nearly square shaped homes have fewer linear feet of exterior walls (and walls are one of the most expensive elements of the home), such homes cost less to build.
• Ranch homes cost more than two-story homes. Multi-story homes may provide the same amount of living space, but with a smaller roof and foundation, the expense is significantly less.
• Consider the length/width of the driveway when you decide whether to locate garage doors on the front or side of a home.
• Remember that smaller houses are more affordable to build and more economical to maintain.
• Minimize hallways and wasted space to create a more efficient floor plan.
• “Open” floor plans live larger and generally cost less – there are fewer walls.
• Even though the initial cost is higher, consider using energy-efficient appliances, heating/cooling systems and windows. But, before purchasing them, calculate the cost/benefit. If you plan to stay in the home for many years, the energy savings from these items will eventually pay for their extra cost – and then some. However, if you plan to move in a couple years, you may not want to opt for all of these products.
• Better insulation is the most cost-effective energy-saving item you can buy.
• If you want a great-looking kitchen on a budget, choose less pricey cabinets and put your money in the trims (crown molding, glass doors, etc.) and countertops. Expensive cabinets with a laminate top will cost more than moderately priced cabinets with a granite top, but the latter will look more expensive.
• Carefully choose your finish carpenter, tile installer and painter. No matter how well your home is built, if the finishes are not done well, your house will look cheap. Don’t let an amateur carpenter hang the cabinets. Be sure your painter sprays the trim.
• Upgrade your moldings. A 3.5-inch casing looks much more expensive than a 2-inch, but the incremental cost is minimal.
• Get that cushy expensive carpet feel with moderately priced carpet and an upgraded pad. Often the better pads far outlive the life of any carpet.
You can contain costs without sacrificing quality. At New American Homes, we do this every day for every homeowner. Visit Newport Cove, our waterfront community on the Chain O' Lakes, to see for yourself.
Here are several home building options buyers can make to contain cost yet still enjoy a quality, custom-built home.
• Choose a lot that does not require blasting or clearing, does not have a high water table, has access to electricity, gas and sewer.
• Because square or nearly square shaped homes have fewer linear feet of exterior walls (and walls are one of the most expensive elements of the home), such homes cost less to build.
• Ranch homes cost more than two-story homes. Multi-story homes may provide the same amount of living space, but with a smaller roof and foundation, the expense is significantly less.
• Consider the length/width of the driveway when you decide whether to locate garage doors on the front or side of a home.
• Remember that smaller houses are more affordable to build and more economical to maintain.
• Minimize hallways and wasted space to create a more efficient floor plan.
• “Open” floor plans live larger and generally cost less – there are fewer walls.
• Even though the initial cost is higher, consider using energy-efficient appliances, heating/cooling systems and windows. But, before purchasing them, calculate the cost/benefit. If you plan to stay in the home for many years, the energy savings from these items will eventually pay for their extra cost – and then some. However, if you plan to move in a couple years, you may not want to opt for all of these products.
• Better insulation is the most cost-effective energy-saving item you can buy.
• If you want a great-looking kitchen on a budget, choose less pricey cabinets and put your money in the trims (crown molding, glass doors, etc.) and countertops. Expensive cabinets with a laminate top will cost more than moderately priced cabinets with a granite top, but the latter will look more expensive.
• Carefully choose your finish carpenter, tile installer and painter. No matter how well your home is built, if the finishes are not done well, your house will look cheap. Don’t let an amateur carpenter hang the cabinets. Be sure your painter sprays the trim.
• Upgrade your moldings. A 3.5-inch casing looks much more expensive than a 2-inch, but the incremental cost is minimal.
• Get that cushy expensive carpet feel with moderately priced carpet and an upgraded pad. Often the better pads far outlive the life of any carpet.
You can contain costs without sacrificing quality. At New American Homes, we do this every day for every homeowner. Visit Newport Cove, our waterfront community on the Chain O' Lakes, to see for yourself.
Wednesday, May 5, 2010
Your Home IS Your Lifestyle
Lifestyle is often more centered on the home you live in than on nights out or days away. How can you enjoy the lifestyle you’ve always wanted?
You might start with entryways. Does your home welcome you? Are the doorways well positioned and wide enough? (At Newport Cove, our standard front door is an extra-wide 42 inches.)
Then look at the rooms. Do they invite you in with a human-scale ceiling height and beautiful window views? Do you like the paint colors on your walls?
Are the handles you grasp each day easy to use and in good working order? Do your appliances work? These encounters can affect mood. Like a firm handshake or a warm smile, the working parts of a house should evoke confidence and comfort.
What aromas fill your house? If it’s yesterday’s dinner you may need to check on the ventilation.
Listen for sounds in your home. Are the fans too loud? What do you hear outside - neighbors next door or birds singing? (Newport Cove, although just an hour from downtown Chicago, is in another world – a world of lakes and Mother Nature and water sports.)
Are your home belongings beautiful and functional? A professional organizer told us today that most people use only 20 percent of what they own. Are you spending your time taking care of “things” and “stuff” you rarely (if ever) use? Should you simplify your life?
When you’re in a house that fits you, you won’t be over or under stimulated. Visit Newport Cove. It’s not just a home, it’s a lifestyle. You can make it your own.
You might start with entryways. Does your home welcome you? Are the doorways well positioned and wide enough? (At Newport Cove, our standard front door is an extra-wide 42 inches.)
Are the handles you grasp each day easy to use and in good working order? Do your appliances work? These encounters can affect mood. Like a firm handshake or a warm smile, the working parts of a house should evoke confidence and comfort.
What aromas fill your house? If it’s yesterday’s dinner you may need to check on the ventilation.
Listen for sounds in your home. Are the fans too loud? What do you hear outside - neighbors next door or birds singing? (Newport Cove, although just an hour from downtown Chicago, is in another world – a world of lakes and Mother Nature and water sports.)
Are your home belongings beautiful and functional? A professional organizer told us today that most people use only 20 percent of what they own. Are you spending your time taking care of “things” and “stuff” you rarely (if ever) use? Should you simplify your life?
When you’re in a house that fits you, you won’t be over or under stimulated. Visit Newport Cove. It’s not just a home, it’s a lifestyle. You can make it your own.
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