New Homes Delaware

Rent or Buy? 4 Questions to Ask Yourself

Do you have the home-buying itch? The urge to nest and have a place that you can truly call your own? Homeownership is one of the greatest feelings in the world. It confers a certain sense of pride, stability, and security that’s hard to beat. But is homeownership always better – and financially wiser – than renting?

Wouldn’t it be better to make a monthly mortgage payment, instead of throwing away those hard-earned dollars on a property that doesn’t appreciate?

Buying a new home may be one of life’s most thrilling moments, but it’s not always the right decision. If you’re contemplating whether to rent or buy, ask yourself the following questions. The answers should steer you in the right direction.

Can you afford homeownership?

Buying a home will be one of the largest purchases of your life. Are your finances up to the challenge? Most experts agree that your housing budget should not exceed one-third of your income. It’s not just a monthly mortgage payment to consider, but also insurance, taxes, routine maintenance, potential HOA fees, and repairs that factor into the equation.

In terms of interest rates, is it a good time to buy?

Most people aren’t buying a home with cash. They need to finance and borrow money, which means looking at federal interest rates. The higher the rate, the more money you’ll be shelling out over the life of your mortgage. Right now, the 30-year fixed rate is at an all-time low, hovering around 3.30 %. For motivated home buyers, this is excellent news!

Will my credit score help or hinder?

You’ll need a decent credit score to qualify for the best mortgage loans. While getting a mortgage is not impossible with poor credit, the terms will be less favorable, meaning you’ll pay more interest over the long-term. There are various websites to check your FICO credit score, some of them free of charge. Credit scores can range from 300 to 850. Generally speaking, you want a score of at least 620 or higher to be in the ‘good’ to ‘exceptional’ categories.

What are your individual goals?

Much of the rent vs. buy dialogue revolves around simple economics, but if your finances are in order, ask yourself if you’re ready for the stability and responsibility that comes with owning a home.

Lifestyle and future goals also come into play. Homeownership gives you privacy, freedom, and the ability to put roots down in a community. On the flip side, renting offers a degree of flexibility and convenience, but you’ll never be able to customize the look of your home without complying with rules and regulations.

Montchanin Builders homes for sale in Wilmington, Delaware

There are many factors that play a role in the decision to rent or buy. When starting your search for new homes in northern Delaware, turn to Montchanin Builders for expert craftsmanship, superior construction, and modern floorplans in the most desirable communities.

Explore the beautiful move-in ready homes for sale at our master-planned community of Darley Green. Get in touch today to schedule a personal tour, and learn more about financing options available!

What Sellers Can Expect From a Home Inspection

The home inspection does not need to be the most stressful aspect of selling your home. Even if your inspection report reveals areas that need to be addressed with the property, you’ll have the opportunity to address anything that comes up and entice potential buyers to seal the deal.

One of the great advantages of buying a new construction home from Montchanin Builders is that you never have to worry about hidden surprises – from the roof to the plumbing to the warranted interior finishes, everything is brand-new, working perfectly, and up to code. The old home you’re selling may have to pass inspection, but your new move-in ready home at one of our breathtaking walkable communities has already passed a thorough building inspection process with flying colors. There’s nothing you need to do but move in and start enjoying your new amenities, appliances, and finishes – and the gorgeous open-space floor plan of your choosing!

Selling a house before moving into your Montchanin Builders dream home? Here are the most important things that sellers need to know about the home inspection process.

You can schedule a pre-listing inspection

It’s customary for the home buyer to arrange for the inspection of the home after making an offer, but prior to closing. However, as the seller, you can schedule a home inspection before you even put your home on the market. This may be a good idea if you have an older home and you’re motivated to fix items in order to get the highest possible purchase price.

However, you should know that there is a legal obligation to disclose this home inspection report to potential buyers.

What to expect from your home inspection

Regardless of whether you’re having a pre-listing inspection or the buyer’s inspection, it will generally take a few hours for the inspector to check out the property. The report will typically be available within a few business days.

The home inspector will carefully review both the interior and exterior, checking for potential concerns. Note that home inspectors are not concerned with cosmetic issues, like peeling paint or stained carpeting. Occasionally, however, a cosmetic issue may indicate a more serious issue, such as a stain on the ceiling that indicates water damage or cracks in the corner of a room that may indicate a shifting foundation.

In general, home inspectors focus on these main areas:

  1. Structural integrity
  2. Plumbing
  3. Electrical system
  4. HVAC system
  5. Roof
  6. Water damage
  7. Insect/pest infestations (especially termites)

How to prepare for a home inspection

There are a few things that home sellers should do to make the process go as smoothly and quickly as possible. Gather together all receipts for maintenance work, such as service visits for the HVAC system. Clear away any clutter from near the furnace, water heater, and electrical panel, as the inspector will need to access them. Similarly, the inspector should have easy access to the attic, basement, garage, and crawl space.

It’s also a good idea to exterior areas, like if any tree branches are close to the roof or overhanging it, they’ll need to be trimmed back.

Check out these homes for sale in Wilmington, Delaware!

The home buying process can be stressful when you are forced to await the results of a home inspection report. But when you buy a beautiful and affordable new-construction home from Montchanin Builders, you never have to worry about your new home’s condition.

We have stunning move-in ready homes available for sale right now in our master-planned community of Darley Green. Enjoy peaceful, tree-lined streets, and wide-open spaces paired with the convenience of restaurants, shops, and other amenities within walking distance.

Get in touch today to chat about our new homes in northern Delaware. Be sure to ask us about our special financing offers!

Additional resources for home buyers:

Why the Real Estate Market Will Heat Up This Summer

It’s been a rough year so far. Health and public safety concerns have all contributed to economic uncertainty. However, the news isn’t all bad. In fact, there are signs that things are starting to turn around already. Businesses across the country are beginning to open up, people are going back to work, and they are even buying new houses—a significant vote of confidence that the economy will improve. In fact, the summer of 2020 could be one of the best seasons for home buying in recent memory. For proof, just check out the historically low mortgage rates.

Mortgage rates are historically low

Toward the end of May, Freddie Mac released the results from its Primary Mortgage Market Survey®. The results indicated that mortgage rates for 30-year fixed-rate mortgages were below 3.30 percent for the fourth consecutive week. One year ago, the rate for a 30-year fixed-rate mortgage averaged 4.06 percent. In addition, the rate for a 15-year fixed-rate mortgage averages 2.70 percent.

All of those statistics are great news for home buyers looking to save money. Sam Khater, the chief economist at Freddie Mac, predicted that mortgage rates could continue to decline even as the demand for new housing rises.

Mortgage applications are on the rise

Toward the end of May, CNBC reported that mortgage applications had increased by six percent compared to the previous week. That is a stunning rise and may point to a growing sense of consumer confidence in an economic rebound. It also underscores the significance of historically low mortgage rates.

Overall, mortgage applications have increased for five consecutive weeks. FHA, VA, and USDA loans (government purchase applications) are five percent higher than they were a year ago. In addition, the purchase volume is only 1.5 percent lower than it was one year ago, signaling a remarkably fast recovery in the housing market.

More home buyers are taking advantage of virtual home tours

Another factor in heating up summer sales in the real estate market is the increased use of virtual home tours. Not only is it a safe, socially distant way to view homes available for purchase, but it allows home buyers to easily plan long-distance moves. A virtual home tour enables buyers to effectively evaluate whether a particular property will suit their needs without having to travel there.

Get a jump start on your home search before the summer heats up

With so many other people eager to buy a new home this summer, it’s in your best interest to act quickly. Montchanin Builders is open for business, with architecturally exquisite new construction homes in New Castle County, Delaware. Visit our Sales Center to find out why so many people have chosen a Montchanin Builders townhome, condo, or single-family home.

Get in touch with us today to set up a tour or ask about special financing offers for our homes for sale in Wilmington, Delaware.

Additional resources for home buyers

7 Reasons Buyers Love Move-in Ready Homes

When it comes to quality construction, modern floorplans, and designer finishes, move-in ready homes tick all the right boxes. Buyers get all the benefits of a new construction home without the wait of the building process.

In today’s housing market, more buyers are looking for spacious layouts, smart technology, and top-of-the-line luxury. They want a home that is ready to be lived in and doesn’t need remodeling, repainting, or extensive repairs.

With Montchanin Builder’s new construction homes in New Castle County, Delaware, there are no surprises. Every aspect, from the appliances and cabinetry to the heating systems, are brand new and functioning flawlessly.

Let’s explore some of the top reasons buyers love move-in ready homes.

#1. Convenience: no waiting to move into your new home

What you see is what you get, and if you fall in love with the space, the views, the layout, and the community, you can close the deal and be moved in within a few weeks.

#2. Top-of-the-line amenities and features

You don’t have to worry about old appliances or dated designs with a move-in ready home. Expect bright, airy rooms with beautiful interior finishes like granite countertops, wood cabinetry, spacious walk-in closets, hardwood floors, and modern lighting systems.

#3. Energy efficiency

With new construction comes the added bonus of energy efficiency. Modern appliances, new heating/cooling systems, energy-efficient windows, and roofing mean a much lower utility bill.

#4. Fewer out-of-pocket expenses

A move-in ready home promises lower maintenance costs. You won’t have to deal with unexpected repairs as you would with a “fixer-upper.” State-of-the-art appliances and quality construction materials will mean fewer expenses after you’ve moved in.

#5. Protection of structural & manufacturer warranties

A new home warranty means one less thing to worry about, whether your roof starts to leak or your washing machine breaks down. Structural and manufacturer warranties provide coverage for workmanship, parts, and materials.

#6. “Standard” features

A move-in ready home can boast standard features that aren’t typically found in resale properties. Beyond the up-to-date appliances, versatile great rooms, outdoor decks, gourmet kitchens, and professional landscaping.

#7. Attractive financing options

Buyers can take advantage of an easy pre-approval process, low closing costs, and custom financing options.

Move-in ready homes for sale in Wilmington, Delaware

Design updates and renovations take time and money. With a move-in ready home from Montchanin Builders, buyers are getting top-trending amenities, contemporary floorplans, and the peace of mind of knowing there home is warranted.

Skip the construction waiting period and enjoy the benefits of living in a master-planned community like Darley Green. Please call our sales team to schedule a personal tour of our move-in ready homes for sale in Wilmington, Delaware. Our team leverages over 70 years of experience in residential construction and has a great reputation for quality craftsmanship.

Why It’s Smart Not to Put Your Home Search on Hold

According to Realtor.com, the U.S. housing market was on solid ground prior to the coronavirus pandemic. “Despite still-limited homes for sale, buyers were buying and builders were building… virus-fighting measures appear to be disrupting that initial momentum as both buyers and sellers adopt a more cautious posture,” stated the company’s chief economist Danielle Hale.

It’s understandable that potential home buyers would put their search on hold until they feel more certain about the economy and their own long-term financial security. This is uncharted territory, but there are a few compelling reasons why it’s a smart move to stay in the market for a new home this spring.

#1. Fewer home buyers looking = less competition

Nearly half of all real estate agents have noticed a sharp downturn in buyer interest since COVID-19 shelter in place orders began. Uncommitted and unmotivated house hunters have dropped out completely, meaning less competition for prime properties of interest. Over the last month, new home listings have continued to increase, meaning sellers are off the sidelines, and eager to push inventory.

#2. Historically low 30-year fixed mortgage rates

Last week, the 30-year fixed mortgage fell to 3.24 percent.  Compare this to 4.18 percent from May of 2019. According to BankRate, there’s a good chance that mortgage rates, which are near record lows, will remain steady for the next few months.

#3. You could miss the money-saving boat

Financial planners say that – economic crisis or not – it’s impossible to time the market perfectly when it comes to buying real estate. If you hit pause and wait too long to purchase a home, you may miss out on the chance to lock in record-low interest rates for a mortgage.

#4. A strong rebound is anticipated

Other housing market analysts predict that once the quarantine orders are lifted, the temporary ‘softening of the real estate market’ will probably be followed by a robust rebound. Once this happens, all the people who put their home search on hold will flood the market, potentially driving prices higher. Given this possibility, it makes sense to crunch your numbers and keep your eyes open for the home of your dreams.

New construction homes in New Castle County, Delaware

While the dynamics of purchasing property have changed, there are many viable reasons to keep alive your dream of having a spacious new dream home!

Montchanin Builders has an inviting selection of homes for sale in Wilmington, Delaware, featuring contemporary floor plans, up to 2,500 square feet of living space, and attractive financing options.

Call to schedule a personal tour of our new construction homes in beautiful, New Castle County!

grounds at Montchanin community

How to Check Out a Neighborhood While Sheltering in Place

Like all industries, the housing and real estate market is making adjustments in response to the COVID-19 pandemic. Delaware’s shelter-in-place orders may have disrupted many businesses deemed ‘non-essential,’ but sheltering in place doesn’t mean your search for a new home has stalled indefinitely.

On the contrary, there are plenty of ways to scope out a new neighborhood while complying with stay-at-home orders. Open houses may be temporarily canceled, but there are innovative ways you can check out potential communities and neighbors without leaving the comfort of your sofa!

Tips for researching a neighborhood without ever leaving home

Whether you’re looking for more space, relocating for a new job, or like the idea of a walkable community, house hunting has personal meaning for everyone. And for many potential buyers, a large part of your decision will hinge on the surrounding neighborhood.

Here are 5 ways you can learn about a neighborhood while staying at home.

#1. Google Street View

Google street view has millions of panoramic images, letting you take a virtual stroll through a neighborhood. Simply type in an address and begin your explorations.

#2. Browse City-Data and AreaVibes

There are numerous websites, including AreaVibes and City Data, that can help you dig deeper into the specifics of a neighborhood. Learn more about the cost of living, local eateries, weather, livability score, and other useful info.

#3. Tap into Social Media

Many neighborhood communities will have their own social media groups to help connect residents, share important information, and swap ideas. Platforms can range from Facebook groups to Twitter or even Instagram. This is a great opportunity to interact with people who live in areas where you’re interested in moving.

#4. Explore Traffic Patterns & Commute Times

Google Maps and Waze are a terrific resource for researching traffic patterns and commute times from your home to place of work. Find out the fastest routes and best times of day for minimal traffic.

#5. Research Local Schools & Education

The quality of local schools is an important factor for many potential homebuyers. GreatSchools provides data and rankings on K-12 schools, information on school resources, as well as candid parent reviews. Want more information? US News reviewed 24,000 public high schools, and 40 Delaware schools made their rankings.

Virtual tours of new homes in northern Delaware

The spring buying season has gotten off to a rocky start, but there is still promise of a rebound as social distancing guidelines begin to relax.

Potential homebuyers are encouraged to explore Montchanin Builder’s move-in ready homes in Delaware with our virtual tours that allow you to see interiors and exteriors from different angles. If you love what you see, check out our social media groups to connect with local residents. This is a great platform to ask questions, do your research on community living, and get a sense of neighborhood dynamics.

Be sure to ask about our special financing options and bear in mind that mortgage rates are forecast to stay near historic lows!

Young family with a child moves to a new home

6 Moving Essentials: Everything You Need for Moving Day

Moving into a new home is one of those milestone occasions – one that you will remember for the rest of your life. Amid the excitement, chaos, and last-minute tasks, it’s easy to overlook some necessities, or accidentally pack away practical items that you’ll want handy.

Essential Items for Moving Day

Preparation and planning are crucial, but it’s all too easy to make simple mistakes when your mind is laser-focused on setting foot inside your new space. There’s nothing like meticulously packing away your entire household, only to discover you can’t find your child’s toothbrush or your phone charger.

While there may be some unexpected hurdles, this list of moving essentials can make your big day a more enjoyable and stress-free affair.

#1. Cleaning Supplies

No one wants to move into a home that isn’t spic and span. Even if the house was “cleaned” before your moving day, you (and your movers) will likely be tracking in plenty of dirt with all the foot traffic. Keep these supplies on hand to tackle those rogue dust bunnies and make your new digs that more welcoming:

  • Handheld vacuum
  • Disinfectant wipes
  • Glass cleaner
  • Multi-purpose surface cleaner
  • Paper towels
  • Broom and dust pan
  • Toilet cleaner
  • Dish detergent/sponge

#2. Towels, Pillows and Clean Linens

There is something about a freshly made bed with your own pillows that makes a house feel like home. Don’t forget to set aside a box with towels, fresh bedding, and your pillows.

#3. Toiletries and Personal Items

Pack a separate bag that contains the contents of your medicine cabinet and bath. Include all the basics: Toothbrushes and toothpaste, soap, shampoo, conditioner, razors, toilet paper, and other must-have sundries. Your moving day essentials should also include any medications, vitamins, or supplements you regularly take plus some OTC pain reliever.

#4. Basic Tools

It’s a smart idea to have a basic toolkit ready for moving day, especially if you need to re-assemble any furniture. We recommend a hammer, flat-head and Philips screwdriver, flashlight, measuring tape, and a multi-purpose utility knife for opening stacks of moving boxes.

#5. Chargers & Essential Electronics

If you are a large family with multiple devices, bring a power bar along with your various chargers. While you’re plugging in, why not connect a Bluetooth speaker and play your favorite tunes.

#6. Meal Prep Necessities

Moving an entire household is hard work, and no one wants to get hangry. Have some bottled water and high-protein snacks on hand to sate appetites and fuel your day.

Moving day is practically made for takeout. Pizza. Mexican. Thai food. Whatever suits your fancy! But you still want to have a few plates, cups, and cutlery set aside for meals on the first few nights. And if you are a die-hard coffee drinker, keep your French Press or coffee maker in an accessible spot.

Move-in Ready Homes in Delaware For Sale

If you still haven’t found the home that speaks to your desires, we encourage you to explore the beautiful condos and townhomes offered by Montchanin Builders. Featuring open floor plans, high ceilings, and luxury finishes, our new homes in northern Delaware tick all the right boxes.

Please call today to schedule a home tour or inquire about our financing options.

The 3 Surprising Things Homeowners Really Want

If you’re in the market for a new home, you likely have a very specific wish list of amenities and features that you can’t do without. How do your preferences stack up with those of other homebuyers? See what the latest research says about the unexpected home features that buyers are craving.

A generously proportioned garage

American homebuyers really love their garages. That’s according to a recent statement by the National Association of Home Builders (NAHB). The NAHB determined that most of all residential new construction during 2018 featured two-car garages. A full 64 percent of residential home builders included this feature as a must-have. In addition, 21 percent of new homes included a garage large enough to house three vehicles.

A great lighting package

Pre-installed lighting packages are another surprising thing that American home buyers look for in a home. It can be a hassle for homebuyers to find a contractor to install an additional lighting , which is why they often prefer to purchase a home that already features it or can have it added while building.

A walkable neighborhood

A third surprising thing that attracts a lot of homebuyers is living within a walkable neighborhood. These days, people often prefer to live close to nearby amenities, like great restaurants, museums, recreational spaces, and entertainment venues. Yet, they also want to live within a peaceful and spacious neighborhood setting with opportunities for walking and public gathering.  A walkable neighborhood provides the perfect blend of wide-open green spaces and nearby urban amenities.

New homes in northern Delaware with these great features!

If you’re in the market for move-in ready homes in Delaware, check out the properties available from Montchanin Builders. Our masterfully designed homes in the walkable community of Darley Green feature lighting packages, spacious garages, and so much more. We’re here to help! Call us today to learn more!

Additional resources for home buyers:

How to Get the Most Out of Virtual Home Tours

The COVID-19 pandemic has affected virtually every aspect of life—from how people work to how they purchase new homes. While in-person open houses may be on pause, the real estate market is still extremely active with virtual home tours. Get comprehensive tours of the best homes for sale in your area while you “shelter in place.” Right now is an advantageous time to buy, as mortgage rates have dropped and so too have home prices, making it a buyer’s market.

A look at virtual home tours

Virtual home tours have actually been a trend for a few years now. Realtors have relied on technology to entice homebuyers who might not live locally and who are unable to travel for the initial viewing. A 3D home tour enables you to develop a clear idea of what the home layout is like and which features it has.

While they aren’t new, virtual home tours have been exploding in popularity since the stay-at-home orders went into effect during the COVID-19 crisis. They allow home buyers to safely view new options from the comfort of their own couches. Realtors and sales agents are also protected, as they can virtually connect with buyers to answer questions about the property.

Making the most of a virtual home tour

The YouTube channel of Montchanin Builders offers virtual home tours for various luxury model homes. These include the exquisite and innovative Maxwell Model, Emerson Model, and Carlyle Model at the master-planned community of Darley Green.

When you visit a model home in person, you’ll ideally want to bring your camera (or cellphone with a camera) and a notebook. Take pictures of the rooms and features, and make notes about what you like and how you envision living there. For a virtual tour, making the most of your time requires a different approach.

First, view the entire virtual tour to get a sense of what the home is like. Then, pull up the model home’s blueprint. You can easily view the blueprint or layout for Montchanin Builders’ homes for sale in New Castle, Delaware, on our website. Split your screen so that you can view the virtual home tour and the blueprint side-by-side.

Virtual home tours in Wilmington, Delaware

Have any questions after viewing our Wilmington, Delaware virtual home tours? You can reach out to us at any time by phone or by filling out the quick contact form on our website. Although our Sales Centers and Decorated Models are temporarily closed, you can still drive through our lovely master-planned communities to see the beautiful home exteriors and landscaping. Imagine yourself in a Montchanin Builders home today!

Additional resources for home buyers:

4 Benefits of an Open-Floor-Plan Home

An open floor plan features the seamless transition between two or more traditional-use rooms, such as the kitchen and living room, with no partitioning walls. Since the 1990s, the open floor plan concept has been popular among homebuyers, with good reason. The communal living space provided by this layout supports smoother traffic flow and a greater sense of togetherness. If you’re thinking about buying a new, move-in ready home with an open floor plan, consider the following advantages.

Open floor plans support the flow of traffic

Homes with more than one occupant, as well as those that frequently host guests, will benefit from having an open floor plan. This layout allows individuals to travel unhindered from one room to the next, without getting jammed up at doorways or narrow hallways.

Open floor plans encourage communication

Another perk of the open floor plan concept is its effect on communication. Because the line of sight is unhindered from one room to the next, it’s easy for a person in one room to communicate with someone in another room. For example, if you’re preparing food in the kitchen, you’ll be able to easily chat and interact with others in the living room or dining room. Households that often have guests over typically find that the open floor plan supports hosting, making it a top choice for those who enjoy entertaining.

Open floor plans offer more natural light

No amount of lamps can replace the beauty and functionality of natural light. And with an open floor plan, you’ll get plenty of it. Since these homes do not have lots of partitioning walls, the natural sunlight is allowed to freely flow from one room to the next.

Home sellers enjoy higher resale value

There is no doubt that open floor plan layouts are highly popular with homebuyers. For this reason, this layout can increase the resale value of your home and is a financially smart decision. If you do decide to sell your home later on, it should be easier and quicker for you to sell an open floor plan home compared to a more traditional house.

Beautiful houses for sale in New Castle County, Delaware

If the thought of an open floor plan home appeals to you, you’ll love the innovative layouts of the move-in ready homes offered by Montchanin Builders. Our townhomes and condos have plenty of open spaces, high ceilings, and masterful finishing touches.

Our communities—including Darley Green and The Overlook at Rockford Falls—are master-planned neighborhoods that feature tree-lined streets, community gathering areas, and convenient amenities within walking distance. Get in touch today to inquire about special financing offers for our homes for sale in Wilmington, Delaware.

Additional resources for home buyers: