With the new year nearly upon us, it’s a natural time to reassess whether your current home is still the best space for your family. If not, 2020 marks the beginning of a new decade, so why not a new home? Before jumping into homebuying, make sure you do your homework on housing market trends. We’ve identified three that will certainly motivate you into action as soon as the holidays are over!
- Low mortgage rates are here to stay. The expectation that rates will remain constant or dip even lower has prospective homebuyers excited for the new year. As stated in an article by Forbes, economists and real estate experts foresee interest rates fluctuating between 3.9% to as low as 3.5%, creating an excellent opportunity for first-time buyers or those looking to upgrade. No matter why you’re considering a move in 2020, you might be surprised by how much home you’ll be able to afford in the long-term with such excellent rates!
- Prices are going up. Although low mortgage rates create promising conditions for the potential buyer, the price of home ownerships are currently at an all-time high. Many people are benefiting from lower rates by choosing to refinance their homes, instead of selling, leading to fewer listings and increased demand. To avoid price increases and get the most value for your new home, the time to buy is now. Despite this, you have plenty of price options with Lennar, with the added benefit that all homes are new construction.
- Competition will be fierce. With scarce inventory, lower mortgage rates, and a growing demand, you’ll need to be on top of your game during your home search. Homebuyers will be competing in droves to obtain better homes for the lowest prices. Particularly important for renters seeking to purchase their first home and time a move with the end of a lease, the homebuying process may not be as linear as in the past–so, don’t wait to get started!
Before you start touring new homes, knowing your price range and non-negotiables is important to keep your search realistic and focused. Three enticing Broward communities ranging in style and price give you a great selection to choose from, and help narrow down your must-haves, so you can find the home that best suits your 2020 needs and goals. For young professionals, Palomino Lake is a great community to start your search. Located in Davie, these new townhomes are flanked by 28 acres of equestrian trails, as well as a lake and pool cabana–for prices as low as the mid $300s! One of Lennar’s most attainable communities in Broward County, with many homes eligible for FHA financing and low down payment options, Palomino Lake is a great example of high value for low prices.
A second townhome community that offers a slightly more elevated lifestyle is Tuscan Pines in Pembroke Pines. Located in the “Best Place to Raise Your Kids,”these new homes offer 3 to 4 bedrooms, ideal for a second home, with prices from the upper $300s. Similar to Palomino Lake, family-friendly amenities such as a sparkling pool with sundeck areas add to the allure of Tuscan Pines, where the comfort of home extends throughout your entire community.
If you’re seeking a complete home upgrade or need a much larger home than you currently have, look no further than Parkland Bay. Offering lakeside luxury living at its finest, this new home community boasts four elite neighborhoods of estate homes with breathtaking views of a 178-acre lake. Unlike any other Lennar community in Broward, these homes range from the $500s to over $1 million and are among the most luxurious available in family-friendly Parkland. Perfect for large families who value togetherness, you’ll also benefit from Parkland Bay’s massive clubhouse with resort-style amenities, offering something for every member of the family to enjoy.Truly indicative of the added value you’ll enjoy, all Lennar homes also includeWi-FiCERTIFIED™Home Designs for unsurpassed connectivity as well as Lennar’s signature Everything’s Included® package, which ensures you won’t have to compromise on luxury features and finishes. So regardless of your budget, you can be certain that brand-new, stainless steel appliances will be installed and ready in your kitchen upon move-in, along with a choice selection of designer finishes, flooring options, and more!
Three market trends and three stunning Broward communities means your search for the perfect new home is already a step ahead of the rest! Come visit one of our Welcome Home Centers and enjoy a simplified homebuying experience with the help of our New Home Consultants. We look forward to helping you maximize the value of your new home in 2020