Why 2022 is the Year to Buy New

The 2022 Choose Chattanooga Relocation Guide just hit shelves last week. You don’t have to be a Realtor or a home builder to know that the Scenic City has become a mecca for folks escaping the high costs of living, cold-weather, or impossible traffic.
The pandemic has changed how people live in their homes – and a lot have found their current homes can’t provide the flexibility and livability home life now demands. This blog, published on a fellow home builders site, emphasizes why building now is the best option to get the most function, enjoyment, and return on investment in a new home. Give it a read.

this post was originally published on dreamfindershomes.com
If you’ve been on the fence about buying a new construction home, there are plenty of good reasons to finalize your decision sooner rather than later. The main motivating factor should be that home prices are not expected to decrease any time soon; they are, in fact, projected to increase for the foreseeable future. Interest rates are also still low compared to pre-pandemic rates, though these, too, will begin to rise (as they have already).

Prices and Rates Expected to Climb

Going into the new year, there is certainly less volatility in the real estate market than we saw in 2020 and 2021. Then, prices were increasing at breakneck speed as demand shot up. All we heard were stories about bidding wars, waved inspections, and even waved appraisals as buyers brought cash to the closing table. Now, as demand cools, home prices are, too. But if you think they’ll start decreasing anytime soon, you may want to re-evaluate.

Zillow predicts home prices will rise 14.3% in the next year, and much of that has to do with the cost of building products and supplies. Lumber, while much more available than it was a year ago, continues to cost well above what it did pre-pandemic, and those costs continue to creep up. The same is true for just about every component of a home — from flooring to HVAC systems to paint. As with housing in general, the demand is just too high as manufacturers struggle to keep up, and prices reflect that.

Demand for new houses isn’t letting up anytime soon. The U.S. currently has under built housing by at least 5.5 million homes. Even as the pace of building picks back up, it will take five or six more years before supply and demand level out, continuing to buoy the price of homes.

Still-low interest rates are also a great reason to buy a new home now. Even with higher home prices, today’s low rates help to keep monthly mortgage payments reasonable for home buyers. And if you have a certain budget that you must stick to, the ability to afford a larger home is an added perk of low interest rates. But they won’t stay low forever, and are predicted to rise substantially in 2022.

Now is the RIGHT Time to Build

If you’ve been in “wait and see” mode for the last few years, you’ve probably looked extensively at floor plans and chosen one or two that would be perfect for you and your family. And chances are you’ve identified exactly where you would build your new home. Now is the RIGHT time to start the process, while the communities you like still have availability and the interest rates are still low.

Connect with us to learn all about new home financing, our proven process, and how you can start building your dream home today.

Home Buyers Want to Reconnect with the Outdoors

The pandemic is moving into its third year. Whether we want to admit it, or not, it has changed our lives – how we live and probably how we will continue to live. “Normal” will never be what it was pre-2019.But that’s not necessarily a bad thing. Millions of folks have discovered they can work from home and aren’t tied to a geographical area defined where their job is located. Rarely used guest rooms and formal dining rooms are being transformed into home offices and “Zoom rooms”.

“Fresh Air is Intoxicating”

Another effect of spending more time at home almost 24/7, folks crave being outside even more than we ever have before. Last year The Washington Post noted that “any outdoor space is more highly prized than ever”. The outdoor fever is just as rampant here at home in Tennessee. The Tennessean, in their August 2021 issue reported that waterfront properties are spending less than 24 hours on the market.

Bringing the Outdoors into our Homes

Core Homes attended the Southeast Builders Conference in Orlando this past summer. One seminar entirely focused on the demand for home plans that effortlessly and beautifully reconnect home buyers to the outdoors – inside and outside of their home. This ranges from a bank of windows that bathe the main living area with natural sunlight to a wall of retractable glass doors that open to expand the living area into the outdoor kitchen and fireplace on the covered deck. Wow!

Covered and screened decks, outdoor fireplaces, fire pits, multiple outdoor living spaces spanning the entire rear of the home – all of these are moving up on the list of home buyers’ “must-have” items.

Core Homes Signature Communities

While all of Core Homes‘s communities feature larger-than-usual homesites and popular amenities, Core’s Signature Communities are designed and planned to take maximum advantage of the natural surroundings. 5-acre wooded tracts, some on the waterfront, will be offered at the Wind River community in Harrison starting this summer. Planned amenities include boat slips, pool and cabana, fire pit pavilion, green space park, and walking trails.

Our River Breeze community in Soddy Daisy has river bluff home sites available. The coastal-style vibe includes a community dock with boat slips, a sundeck, and gas lanterns for every home. Imagine walking this neighborhood at sunset!

Spending more time at home at work and at play is the new normal. Core Homes is designing their communities and homes to bring the outdoors into homes, naturally.