Buying a Home: New vs Used, Pt. 2

The New or Used Home Exploration Picks up Where Part One Left Off

We recently shared here on our blog some reasons why it makes sense to buy a new home, as opposed to a used one. This is one of the first and most important decisions homebuyers face, whether you’re buying your first home, a second home, or a retirement home.

The simple truth is, choosing a new one over an existing or used home is a smart move. Here are some more reasons why…

Why Live in Someone Else’s Dream Home?

When you buy an existing or used home, you’re living in someone else’s dream home. With a new home, you can customize your home to reflect your style.

At Colony Reserve, you can express yourself with special touches that’ll make your dream home truly unique. You can choose all the finishes for your townhome, from opulent kitchen counters and expressive backdrops, to elegant flooring and sophisticated cabinetry… everything you want to suit your style, not someone else’s.

Know Who Built Your Home

When you buy new, you know who the builder is and you can research the company to make sure you’re comfortable with their standards and quality of workmanship. At Colony Reserve, you can take comfort in knowing your home is built strong and backed by a reputable builder.

Now in its seventh decade as a successful developer of award-winning residential communities, The Holiday Organization is recognized as one of the nation’s premier real estate companies. Through unwavering commitment to visionary design, superior technology and the finest construction, The Holiday Organization has provided more than 8,000 families with a place they now call “home.”

Re-Sale Value

One final thing to consider: new homes generally have better re-sale value, because they are newer and nicer. So you get the most for your money, if or when you decide to sell.

If you’re ready to buy a home or have just starting thinking about it, visit us at Colony Reserve. Our new home experts will help you get on the path to owning your dream home. Stop by our sales office any day between 10AM and 5PM to see the neighborhood, visit our clubhouse, and tour our gorgeous models.

Buying a Home: New vs Used, Pt. 1

New-Construction or an Existing Home — What’s Right For You?

When you’re ready to buy a home, especially if it’s your first, one of the biggest questions you face is, “Should I buy new or used?” It’s a good question — and an important decision you’ll have to make. Whether you’re buying your first home, a second home, or a retirement home, choosing a new one over an existing or used home is a smart move.

There are many reasons why it makes sense to buy new instead of buying used. We’re going to share a few of them with you here — and then we’ll follow up with Part Two in another blog post.

A New Home Means No Old Problems

Why get stuck with someone else’s used home — including their old problems and the potential for repairs and additional costs? A new home is yours and yours alone. You won’t have to worry about existing, potential, or hidden problems, or additional costs for repairs.

Plus, a new home usually comes with some kind of protection. Here at Colony Reserve, our homes come with a one-year warranty on everything inside your new home, and a 10-year structural warranty on everything else.

Hello, 1990 Called. It Wants Its Old Home Design Back…

One of the exciting things about buying a new home is that everything is brand new, including the design of the home itself, the cooling/heating system, the building materials used, and the fixtures and appliances. You don’t end up settling with someone else’s old style and outdated features, or having to spend more money to update everything.

At Colony Reserve, our townhomes showcase a modern design and come equipped with luxurious standard features. Your gourmet kitchen includes designer cabinetry, stainless steel GE appliances, and rich granite countertops.

Your spacious master suite has oversized his and hers walk-in closets, a cozy bay window perfect for a sitting area, opulent coffered ceilings, and a spa-inspired bathroom with cultured marble double vanities, a Roman tub and separate shower. All of our townhomes also offer a full-size GE washer and dryer conveniently located on the second floor. (Try finding THAT in an older home!)

Stay tuned for more great reasons to buy a new home instead of a used one, coming soon to this blog! And when you’re ready to buy your home, visit us at Colony Reserve. Our new townhomes are exceptionally built and beautifully designed so you can reap all the benefits of owning a new home… a place that’s truly yours and only yours!

Stop by our sales office any day between 10AM and 5PM to see the neighborhood, visit our clubhouse, and tour our gorgeous models. We would love to show you around!

Guess Who’s Buying the Most Homes These Days?

Ideal Market Conditions Spark Next Generation of Homebuyers

If you’re thinking about buying a home this year, you’re not alone. The housing market is hot-hot-hot these days. So who’s buying new homes in 2017? According to this recent report from NBC News, the answer may surprise you: it’s millennials! (Those born after 1980, typically between 18-34 years old.)

The Millennial Market

As NBC notes, “Millennials are growing up, settling down and looking to buy a house.” We’ve certainly found that to be true here at Colony Reserve. Every week, we see more and more young buyers visiting our models or contacting us for information as they look to buy their first home. The National Association of Realtors confirms this, reporting that millennials have been the largest group of homebuyers for four consecutive years. And even if they haven’t bought a home yet, most millennials want to. According to research done by Fannie Mae, 91% of renters between the ages of 25 and 34 eventually want to own a home.

Why Millennials Are Buying Homes Today

What’s behind this trend of millennials buying homes? There are a few key reasons why so many are choosing to buy — and these might be considerations for you, as well:

  1. Need for more space: Sometimes, you just need that extra closet or bedroom, especially when you’re thinking about starting a family. Here at Colony Reserve, our spacious townhomes are ideal for first-time buyers and young families, with plenty of room to grow!
  2. Financial benefits: Savvy millennials recognize that owning a home is still one of the best ways to build equity and net worth — and that real estate is still an excellent investment opportunity. According to the founder of a home equity finance company in San Francisco, as reported in U.S. News & World Report, “If you are looking at housing as a long-term investment for capital appreciation, look to generate 13 to 15 percent returns annually.” Plus, it just makes good financial sense to put your monthly home payment into something that’s yours, rather than paying that money as a renter to someone else.
  3. Good timing: Interest rates are still relatively low right now. But they are rising — and so are home prices, as more and more people buy and inventory is depleted. The longer you wait, the more you’ll pay!

If you’re ready to take that exciting step into homeownership, Colony Reserve is the perfect place to begin. Take a look at the “Top 10 Reasons to Live at Colony Reserve” — then come visit us for a tour of the neighborhood and our gorgeous models. We’re open every day from 10AM until 5PM. We would love to show you around and show you how easy it is to buy your new home here!

The Hot Home Market and the Homebuilding Slowdown

Zillow Cites Lack of Homebuilding for Rising Prices, Buying New-Construction May be the Solution

According to a recent report from Zillow.com, the lack of new-construction homes has played a large part in the skyrocketing prices for existing homes. What’s more, the report noted that inventory is significantly less for entry-level homes.

The slowdown in new construction is a result of the housing collapse that started in late 2006. At the end of that year, there were nearly two million new-construction homes completed. In 2011, the number dropped to just 600,000, and has remained below the historical average of about 1.5 million.

Now we know what the issue is and how it all got started, but what’s actually important is the solution.

The Solution to Low Inventory for Entry-Level Homes

Since lack of new construction has led to low inventory, building a new community is the best solution. Luckily for those wanting to live in Lake Worth, the Holiday Organization has done just that with the townhome community of Colony Reserve.

Colony Reserve showcases two spacious townhome models to choose from. Each boasts 1,566 total A/C square feet, with three bedrooms, 2.5 baths, and a one-car garage.

Every Colony Reserve home is equipped with an extensive menu of luxury included features, which help make this community the best value in The Palm Beaches. Prices start at the unbelievably low price of $256,000, making it an ideal entry-level home for first time buyers.

While Colony Reserve an ideal solution for those looking to buy a home without navigating the hurdles that low inventory poses, the opportunity to own in this community won’t last forever.

Visit the sales office any day between 10AM and 5Pm to claim your place in Colony Reserve while residences are still available.