5 Reasons to Buy Your New Condo in Delaware Now
Are you in the market for new condos in Delaware? Real estate trends in Wilmington show a steady climb in home prices, so if you’ve been waiting for the right moment to snag a great deal, this could be it! According to Trulia, median sales prices for Wilmington homes have jumped 14.5% over the last year. On top of that, economists agree that rates for fixed mortgages are unlikely to increase much above 4 percent this year. With house prices slowly going up and low interest rates, this may be your golden opportunity to purchase one of Darley Green’s move-in ready townhomes and condos.
New homes in Delaware: Wilmington market trends
It’s not likely that home prices will come down any time soon, as market trends in Delaware real estate reflect a slight but stable surge in costs. With today’s comparatively low mortgage rates, home ownership is now incredibly affordable, and is often less expensive than renting. Here are five compelling reasons to consider purchasing your new home in Wilmington sooner rather than later:
- Home prices are increasing. Wilmington home sale prices between December 2012 and February 2013 were 14.5% higher compared to the previous year, according to Trulia. Economists predict these house prices will continue to appreciate.
- Mortgage rates may rise next year. Mortgage interest rates are hovering at 4% or less, but these rates may trend higher later in the year and into 2014.
- Rent prices are climbing. In 2012, rent prices across the nation went up 4%. Rental rates are expected to increase as the economy continues to recover and strengthen.
- Mortgage rules may become stricter. With new rules like the Qualified Residential Mortgage, homebuyers may face new conditions for down payments and minimum credit scores.
- Better incentives are on offer. New construction homes are offering excellent terms for homebuyers with flexible financing options and low down payments.
Darley Green homes in Wilmington: luxury living you can afford
Jed Kolko, chief economist for Trulia, says that those who act now are in a better position to put down a down payment and qualify for a mortgage. So what’s the take home message? For the best financial deal on new homes in Delaware, 2013 may be your time to purchase. Your dream home could be on the market right now at Darley Green, so why not swing by and check out our latest Spring arrivals. If you’re concerned about location, our address in Delaware’s famed Claymont Renaissance district is centrally situated just 5 minutes from downtown Wilmington, and 20 minutes from all the action in Philadelphia.
Our two and three-story townhomes and condos offer a variety of floor plans, classic exterior styling, 2-car garages, high ceilings and gourmet kitchens. The Montchanin Builders have carefully designed each home to suit the preferences and needs of the modern homebuyer, from young couples to families and retirees. Discover the many joys of living in a master-planned community, where ample green spaces, onsite jogging trails, a community library and local shops are just steps from your door.
Come visit us anytime between 11AM and 6PM to view one of our model homes. To find out more about our specials for first-time homebuyers, or to schedule an appointment, please contact Amy Maluski, Community Sales Manager, at 302.655.2600.