New Homes Delaware

4 Types of House Clutter and What to Do About Them

There are a number of reasons why you may want to avoid clutter in your home. Clutter can cause you stress, make it harder for you to keep your home free of dust and mold, and even be a fire hazard. The problem is, clutter has a way of adding up quickly, especially if you don’t periodically clean and organize your home. Fortunately, there are ways to prevent that. Whether you’re planning a move or just looking for a fresh start in a familiar space, check out this guide to the most common types of house clutter–and how to keep them from taking over your life.

Sentimental clutter

Many of the things we accumulate in our homes are simply items from the past that we can’t bring ourselves to part with: old birthday cards, cassette tapes, childhood toys. If you want to avoid keeping too many of these items, sit down with them and decide which ones are truly meaningful to you. Then, donate the rest. It may help to take photos of the items before giving them away–and, after all, photos take up a lot less space!

Paper clutter

When you get junk mail, do you throw it out immediately or set it aside to sort through later? If you do the latter, it’s a safe bet that you’ve probably ended up with a stack of envelopes on your desk or table. Sorting through the mail as soon as you get it, rather than putting off that task, will help keep your desktop clean. It’s also a good household rule to make deadlines for newspapers and magazines. Give yourself three days to read a newspaper, and a month to read a magazine. After that, toss them in the recycle bin.

Bulk clutter

Have you ever bought an extra amount of something because you thought you might “need it” later? This strategy makes sense for certain items, such as toilet paper and paper towels. However, it can easily lead to you overstocking your kitchen and buying more food than you will be able to use. It’s a good idea to go through your fridge, freezer, and pantry about once a month, tossing expired foods and anything that you will not use before it goes bad.

Unorganized clutter

Sometimes, items are clutter simply because they haven’t been put away. Buy some clear plastic containers and use them to categorize things like art supplies, cleaning materials, or old-school souvenirs. Make sure that everything you store in these containers is something that you want to keep or will use! Then, find a place in your closet for the containers. Even a small amount of organizing can go a long way toward decluttering your home.

Move-in ready homes in Delaware

One of the numerous advantages of moving into a new construction townhouse or condo is that you can make a fresh, clutter-free start. If you are a prospective homebuyer who is looking for a new construction home, then it’s time to get in touch with Montchanin Builders. We will be happy to schedule a tour so that you can check out the spacious floor plans and fantastic amenities of our luxurious new construction homes. Be sure to ask about our special financing options!

How to Buy and Sell a Home at the Same Time

Buying your first home is an exciting experience, but purchasing your second can be even more thrilling. Your first home was likely a starter house, and now you’re ready to upgrade to your dream home. Even though you’ve already been through the home buying process and you know what to expect, this time around you’re also a home seller. As a result, the process can get a little more complicated. There are a few different ways you can buy and sell a home at the same time.

Own two homes at once (temporarily)

The first option is to purchase your second home before you sell your first one. This is a good option for homebuyers with a comfortable financial nest egg and an excellent credit score. As a general rule of thumb, strive to save six months of mortgage payments for both homes to tide you over until your first home sells.

Bear in mind you’ll also need to save a down payment and closing costs for your second home. However, you might not need a huge down payment.

Sell your first home first, and then purchase your second

Many home buyers choose this option because it allows them to use the money from the sale of their first home to purchase the second. Of course, there is a drawback. You’ll need somewhere to live after your first home sells. You might consider putting the majority of your possessions into storage and moving in with family temporarily. Another option is to get a month-to-month apartment rental agreement. In some cases, the people who purchase a home will allow the sellers a rent-back contingency, which allows the sellers to rent the home to the buyers for 30 to 60 days after the sale.

Using a purchase agreement with a contingency to sell

This is one of the most popular options for home sellers who enjoy minimal risk and maximum convenience. You’ll remain in your current home while you search for your new one. Once you find it, you’ll make an offer. However, that offer will be contingent upon the sale of your current home. In other words, you will not have to buy the second home until you sell the first one. This allows you to avoid the burden of two mortgages at the same time, and it also prevents you from having to move more than once.

However, not every home seller is willing to agree to this contingency. It often depends on how much interest there is in the property. In addition, you’ll likely need to sell your current home quickly, so make sure it’s spruced up and in move-in ready condition to improve the odds of it selling in a timely manner.

View new construction homes in New Castle County, Delaware

When you’re ready to move on from your starter home to your dream home, it’s time to check out the available properties from Montchanin Builders. Our master-planned community in Wilmington, DE—Darley Green—is a masterpiece of neighborhood design. It features wide open, green spaces, neighborhood gathering areas, tree-lined streets, and of course, architecturally exquisite homes with plenty of space to accommodate every lifestyle. Call today to schedule a tour of new construction homes in Delaware.

Additional resources for home buyers

Do’s and Don’ts After Applying for a Mortgage

Buying a house can be an exciting process! One of the most important steps towards new homeownership happens after you’ve picked out your new dream home: applying for a mortgage. See below for tips on what to do – and what to consider avoiding – to make the mortgage application process go smoothly.

As you prepare for the purchase of a new home, keep in mind these recommendations to help you get to the mortgage finish line as quickly and stress-free as possible. Not all of these do’s and don’ts may apply to your case, so be sure to consult a financial advisor if you have any questions.

DO: Keep paying your bills on time.

Keeping up with your bills is one of the most effective ways to maintain good credit, so try to pay your rent, utilities, loan, credit card, and other bills by their due date. Many websites allow you to set up automatic monthly payments so that you don’t have to worry about forgetting to pay a bill on time.

DON’T: Apply for new credit or loans.

Once you’ve applied for a mortgage, it’s generally a good idea to avoid trying to add new credit lines or loans. Doing so can impact your debt-to-income ratio, which is a key number that mortgage lenders look at. It can also affect your credit score, which you want to keep as high as possible during the mortgage application process.

DO: Hold on to important documents.

As a rule, it’s a good idea to keep all of your important financial documents in a safe place and to keep them well-organized so that you can easily find them when you need them. These might include pay stubs, bank statements, receipts from major purchases, and recent personal tax returns. Your lender will likely ask to see these documents at some point during the process.

DON’T: Close current credit accounts.

While having unpaid debts can lower your credit score, so can having too few credit accounts. Thus, it’s important to make sure that you have enough accounts to keep a high score. If you have a credit card, don’t close it even if you do not owe anything on it. It’s better to use the card occasionally and simply pay off the balance every month.

DO: Wait until the loan closes to make big purchases.

While it might be tempting to start purchasing furniture or other big-ticket items for your new home, the safe move is to wait until the loan closes before making major or unusual purchases. A sudden dip in your savings could impact the terms of your mortgage, as could any changes to your credit rating.

Stunning new homes in northern Delaware

At Montchanin Builders, we strive to make the home buying process as easy as possible, which is why we work with one of the leading mortgage lenders in the country, Cardinal Financial. Because Cardinal is able to provide its own loan financing, it allows customers like you to enjoy some of the lowest loan rates and closing costs in the industry. Make sure to ask us about our special financing offers!

With mortgage rates at a historically low level, this is an ideal time to be on the market for a new home. You may be surprised at how affordable a mortgage can be in 2021!

If you’re ready to find your dream home, check out the exquisite new-construction townhomes and condos available at Montchanin Builders’ master-planned walkable community of Darley Green. To learn more about these luxurious homes in Wilmington, Delaware, get in touch with us today! Our team will be happy to schedule a tour for you.

model Darley Green kitchen

Why Homebuyers Are in Love With Open Floorplans

An open floorplan joins together the living room, dining area, and kitchen into one large, open space, effectively creating a clear visual field throughout much of the main floor. Open floorplans became very popular during the 1990s and have been an enduring trend ever since. They mark a significant departure from older homes, which typically feature separated rooms branching off a main hallway, with the kitchen closed off toward the back of the home.

The shift toward an open floorplan is representative of the shift in socializing trends; today, guests are encouraged to mingle in the kitchen as the host puts the finishing touches on the meal.

There are numerous advantages to the open floorplan, which is why Montchanin Builders embraces this design technique in our exquisite, spacious townhomes and condos in Darley Green.

Open floorplans allow for better flow of traffic

One of the main reasons why homebuyers love open floorplans is that they allow for superior traffic flow. With fewer hallways to navigate, doors to open, or walls blocking space, it’s less likely that people will bump into each other. This is particularly advantageous when homeowners are hosting get-togethers.

In an open floorplan home, all of the guests can freely mingle without having to be crammed into one smaller room together.

They offer superior flexibility regarding the layout of the home

Homes that follow the traditional, pre-war floorplan that divides various areas into separate rooms can be challenging to furnish. There is little flexibility regarding the layout of the furniture. With an open concept floorplan, homeowners can more easily arrange the furniture to their liking. Furthermore, there are more configuration possibilities.

If the homeowners grow tired of the first layout or wish to purchase new furniture, it’s easier to adapt to a new layout without the interference of partitioning walls.

Homes with open floorplans tend to offer better real estate value

Many homeowners make house purchasing decisions with an eye toward a future sale. It’s typically preferable to purchase a home that can be reliably expected to increase in value over time. Another reason why home buyers are in love with the open concept floorplan is that it holds its real estate value over time. In fact, homes with an open floorplan are typically valued higher than those with the traditional layout.

Explore move-in ready homes in Delaware

If you’re in love with the open floorplan concept, you’ll be thrilled with the townhomes and condos of Darley Green, a master-planned community characterized by open green spaces, neighborhood gathering areas, and plenty of nearby amenities. Our new construction homes in New Castle County, Delaware, offer plenty of square footage coupled with thoughtful, customizable open floorplans.

Call Montchanin Builders today to schedule a tour and inquire about our special financing offers.

8 Key Terms to Know in the Homebuying Process

Buying a new home is one of the most significant milestones that will change your life. When you become a homeowner, you’ll enjoy greater freedom to customize your own home and the satisfaction that comes from knowing you’re building equity in your property. Yet, the home buying process itself can be complicated. If you’ve never navigated the process before, you should take a few minutes to become familiar with the following key terms.

Closing Costs

As the name implies, these costs are payable upon closing on the property. The fees typically include financing fees, taxes, appraisal fees, credit score checks, and title insurance. Your lender should provide you with a list of closing costs upfront so that you’ll know what to expect.

Down Payment

This is the amount of money you’ll pay upfront towards the purchase price of your new home. Lenders typically require buyers to put down 3% to 20% of the total price of the home.

Inspection

Even if you’re purchasing a brand new home or condo, it’s a smart idea to schedule a home inspection. This is a thorough assessment of the home’s condition by an independent third party.

Mortgage Points

Also called discount points, these are amounts paid to the lender, usually as part of the closing costs. If you choose to pay mortgage points, you will lower the mortgage interest rate. For example, one lender might offer the option to purchase one discount point in order to lower the mortgage interest rate by 1%. The ratio of discount points to interest rate percentage can vary from one lender to the next.

Origination Fee

This fee is assessed to cover the lender’s costs of processing the loan.

Private Mortgage Insurance (PMI)

Not all homebuyers are required to pay for private mortgage insurance. Typically, lenders will require it of homebuyers who pay a down payment of less than 20%. This coverage protects the lender from losses in the event the homebuyer cannot satisfy the loan.

Title Insurance

Purchasing title insurance will protect you from liability if any title issues arise. For example, there may be a tax lien or other legal claim that would impact the legal ownership of the property.

Underwriting

Underwriting is a process that the lender undertakes. It involves reviewing all documents submitted by the homebuyer, and verifying the information in those documents. Based on the lender’s findings during the underwriting process, the lender will decide whether to approve the loan application.

Explore new construction homes in New Castle County, Delaware

When you’re ready to move into your dream home, explore the available homesites at Darley Green. Our homes in Delaware include beautiful, thoughtfully designed condos and townhomes within our walkable community of Darley Green.

At Montchanin Builders, we know that the home buying process can be stressful and confusing, whether you’re buying your first home or your third. We’re proud to partner with Cardinal Financial to offer our homebuyers excellent terms with uncompromising customer service. Our preferred lending specialist, Katherine, will walk you through the homebuying process. Call us today to learn more!

Why Home Sellers Are Thriving This Winter

Selling a home can be a lot of work. The good news is that you’ll have the opportunity to move into your dream home. Perhaps you’ve been dreaming of a more spacious home with plenty of storage, a flex room, or a guest room for visiting relatives. Thanks to the current market conditions, it’s an excellent time for home sellers to get to work staging their current homes and putting them on listing sites. Because of the limited inventory available and the historically low mortgage rates, home sellers have been thriving this winter.

A limited inventory makes now a great time to sell

This winter is turning out to be a home seller’s market. The reason is the limited availability of homes on the market. In fact, according to the National Association of Realtors (NAR), there is only about a 2.3-month supply of unsold homes right now, assuming that the current pace of home sales holds steady. This is lower than December’s inventory, which stood at about a 2.5-month supply.

Both of those figures are a far cry lower than the average. A neutral housing market—that is, neither a buyer’s nor a seller’s market—is thought to have about a six-month supply of homes for sale.

Selling your home in a seller’s market is advantageous for a number of reasons. First, you’re likely to get top dollar for your home, even if you don’t make an extra effort to renovate it beforehand. Second, when you do put your home on the market, it’s likely to sell quickly. This will allow you to pack up and move on to your dream home without having to waste time worrying about whether your old house will sell.

Rates are at historic lows

During 2020, the housing market saw incredibly low mortgage rates throughout the year. These historic lows are expected to continue throughout much of 2021. This is beneficial to home sellers for two reasons.

First, home buyers will have an easier time affording properties, which means your old home is more likely to sell quickly. Second, you’ll be able to save big bucks on your mortgage for your dream home. However, it’s not known exactly when those mortgage rates will start to climb. It’s best to act quickly to take advantage of current market conditions.

There’s never been a better time to move to the suburbs

If historically low mortgage rates and a low inventory weren’t enough to convince you that now is the time to sell your home, consider the pandemic. Even though vaccines are now available on a limited basis to certain individuals, it will be a long time before things get back to normal. Right now is a great time to move to the suburbs, where there is plenty of wide-open space for social distancing and green spaces for safer recreation outdoors.

Check out these new homes in northern Delaware

The suburbs around Wilmington, DE, are an ideal place for those looking to escape big city life. At Montchanin Builders, we build master-planned communities that are designed to provide an Old World ambiance, yet are close to major amenities. In our Darley Green community, you can enjoy wide open green spaces, along with close proximity to shops and restaurants.

Call today to schedule a tour!

Why Early 2021 Is a Great Time for Homebuyers to Act

If you’ve been thinking about buying a home, but aren’t sure whether right now is the best time to act, you’ll be pleasantly surprised to learn that market conditions are favorable right now. Mortgage rates are expected to stay historically low, and experts predict that home prices will stay relatively steady. Don’t wait too long to begin checking out beautiful new homes in northern Delaware.

Mortgage rates are expected to stay favorable

Last year, many first-time homebuyers took advantage of extraordinarily low mortgage rates. These favorable market conditions are expected to continue through at least the early part of 2021. In fact, the Mortgage Bankers Association expects 30-year loans will have an average rate of 3.1%. Fannie Mae is even more optimistic, predicting these home loans will have an average rate of just 2.8%. Freddie Mac has split the difference, with a prediction of 3% that it expects to last the entire year.

Price increases will slow down

Property is a commodity that can be relied upon to increase in value over time, which is one of the main reasons why people choose to buy homes. If you purchase a condo or a townhouse in the master-planned community of Darley Green, for instance, you can expect its value to rise throughout your ownership of the property.

The good news for homebuyers is that the average price of homes isn’t expected to rise as much during 2021 as in previous years. Last year, home prices rose by about 5.1%. This year, the Mortgage Bankers Association expects an increase of just 2.4%. Freddie Mac expects home prices to rise by an average of 2.6%.

The pandemic isn’t going away anytime soon

Despite the FDA approval of COVID vaccines, it will be quite some time before a significant portion of the population is vaccinated. It’s going to be necessary to practice social distancing and other public health protocols well into the summer and possibly beyond. Unfortunately, for those who live in apartment buildings or on busy streets, it isn’t always easy to stay at least six feet apart. Apartment dwellers often come into close proximity to each other while using the elevator or visiting the laundry facilities, for example.

The pandemic restrictions have encouraged many people to consider making the leap to homeownership. It’s more popular than ever to move out to the suburbs.

Walkable communities such as Darley Green are particularly popular, since they offer many opportunities for outdoor recreation, away from crowded gyms. Because of the popularity of these move-in ready townhomes, it’s best not to wait too long to start house hunting.

View new homes in northern Delaware

Take advantage of market conditions favorable to homebuyers by viewing the move-in ready homes in Delaware by Montchanin Builders. Our master-planned community, Darley Green, still has some home sites available. Contact us today to schedule a viewing.

When you tour Darley Green, you’ll note its neighborly ambiance, wide-open green spaces, and close proximity to community amenities, such as fine dining, shops, and exceptional schools. Call today to begin exploring our condos and townhomes, and be sure to ask us about our special financing offers!

Top 4 Advantages of Buying New Construction Homes

There are so many questions to answer when you’re ready to buy a new home. Where do you want to live? How much house can you afford? And which floor plan best suits your needs?

One question that should be at the top of your list is whether you should buy a previously owned house or a new construction home. Before you decide, consider all of the following benefits of choosing a new construction home.

You’ll live in a home that is truly all yours

One of the best aspects of homeownership is that you’ll be living in a place that is yours and yours alone—no more paying rent to a landlord who may or may not fix that dripping faucet. But if you move into a previously owned house, you’ll see subtle signs of the prior owners everywhere. Perhaps they had an odd taste in landscaping, or maybe they left behind a TV mounting bracket on the wall in the master bathroom. Appliances may be old and glitchy. Repairs may be needed. The overall feeling you may have is that you’re a guest and not the owner.

You’re likely to find numerous little oddities that remind you that someone else lived here first. Your new home will only truly be yours and yours alone if you’re the first person to live there. There’s something to be said for starting fresh with a clean slate.

You can take advantage of personalization

Personalized options are another reason why new construction homes allow you to truly make your new home your own personal space. Homebuilders will work with buyers to personalize their new construction homes. When you purchase a new home from Montchanin Builders in Delaware, you can choose the floorplan, as well as cabinets, countertops, flooring, and more!

You’ll love the energy efficiency

Building technology continuously evolves over time. The new building materials available now are superior to those used even a few decades ago. When you buy a new construction home, you can rest assured that you’re getting the most modern building materials and time-tested building techniques. Furthermore, your new construction home will be outfitted with materials and appliances that support better energy efficiency. Imagine how much money you’ll save on utility bills when you have a kitchen and laundry room fully equipped with energy-efficient appliances.

You’ll save a bundle on home repairs

Another attractive perk of buying a new construction home is that you shouldn’t have to deal with any major repairs for quite a while. Your roof will be brand new and will last for decades. You won’t have to deal with replacing a malfunctioning water heater that suddenly decides to flood the home in the middle of the night. Your floors will be perfectly finished, and all of your appliances will be brand new.

Not only will this save you money; it will also save you time. It’ll be quite a while before you have to take time off work to wait for a repair person or contractor to show up.

Explore new construction homes for sale in Delaware

Montchanin Builders specializes in offering move-in ready, new construction homes in Delaware that combine luxury with affordability. We build more than homes, however; we build communities that are true neighborhoods, complete with wide-open green spaces. Explore our available floor plans in the Wilmington community of Darley Green and give us a call at 302.472.7212 to schedule a tour. Be sure to ask us about our special financing offers!

Top 4 Most Overlooked Things When Buying a Home

Buying a home is the largest investment most people will ever make, and so it stands to reason that most home buyers focus primarily on the purchase price. They also like to imagine how their furnishings will fit into the home and how the house suits their current lifestyle. These are all huge considerations, but they are by no means the only issues you should think about when you’re looking for your dream house. Here are some top things to keep in mind:

The cost of repairs

Many first-time homebuyers underestimate the amount of money it takes to maintain a home. Older houses, in particular, are prone to needing frequent repairs. Whether it’s an old, damaged roof, a malfunctioning furnace, or a warped and weathered deck, the repairs needed to keep an older house in good condition can easily throw your budget off track.

If you’re buying an older home, be sure to set aside plenty of liquid funds to take care of emergency repairs.

Another option is to purchase a new, move-in ready home instead. If you purchase a new home, your roof won’t need replacing for at least a few decades, and all of the major appliances (along with everything else) will be new. The prospect of saving a lot of money on repairs is just one reason why many homebuyers prefer to purchase new construction houses.

The distance to transportation hubs

Location is crucial when buying a new home. In particular, consider whether the new home is close to major transportation hubs, such as interstates and airports. You’ll be glad later on when you find yourself running late and having to hurry to the airport to catch a flight.

The convenient proximity to major transportation hubs is one reason why many homebuyers choose to live in Wilmington, Delaware. For instance, Wilmington is only a half-hour away from Philadelphia! It’s a centrally located community that is close to train stations, Philadelphia Airport, and major interstates.

The walkability of the neighborhood

A walkable neighborhood is more important than you might think, and unfortunately, it’s something that many homebuyers don’t consider until after they’ve made their purchase. A home on a spacious lot in a walkable neighborhood will give you both privacy and recreational opportunities. Some essential features of a walkable neighborhood include wide open, green spaces, tree-lined streets, and amenities just a short walk away.

A growing family

Before making a purchase offer, consider your current living situation and how it might change over the course of the next decade or so. If you’d like to stay in the home for a while, consider whether you might want to grow your family down the road. It may be worth it to buy a bigger house than you think you need right now so that you won’t have to move again later.

Tour move-in ready homes in Delaware

If you’re looking for a beautiful, spacious home in a walkable neighborhood that is close to major transportation hubs, the homes for sale in Darley Green are a must-see! Montchanin Builders specializes in building neighborhoods with an old-fashioned neighborhood feel, with plenty of wide-open spaces and tree-lined streets. Call today to schedule a tour of our new homes in northern Delaware. Make sure to ask about our special financing offers!

Additional resources for home buyers:

Home Buying Checklist for First-Time Buyers

For first-time home buyers, the process can seem a little overwhelming. That’s why we’ve developed a comprehensive checklist to guide you every step of the way.

Assess your finances

Buying a home is likely the most expensive purchase you will ever make. It makes sense that a thorough assessment of your finances is a logical place to begin. One of the first things to consider is how much you have saved up for a down payment. The traditional rule of thumb is to put down 20% of the home’s value. However, this usually isn’t necessary. You’ll find that many lenders are willing to work with home buyers with a much lower down payment. Montchanin Builders, for example, partners with Cardinal Financial, which offers custom financing with flexible down payment options.

In addition to considering your savings, you’ll want to evaluate your debt-to-income (DTI) ratio. For the purpose of determining your credit score, your DTI is exactly what it sounds like: the sum total of your debts (loans, credit cards, etc.) compared to your income. However, when buying a home, you’ll want to include all recurring bills in the “debts” category. Add up all of your monthly expenses and divide that figure by your monthly income to figure out your DTI. Ideally, your DTI shouldn’t be higher than 43%. The lower it is, the better.

Get pre-approved for a mortgage

Once you have a clearer picture of your finances, you’ll want to obtain pre-approval for a mortgage from a lender. It’s often recommended that home buyers obtain pre-approval before checking out the homes on the market. This enables you to more easily identify the available homes that you can afford.

Meet with a real estate agent

After securing pre-approval from a mortgage lender, it’s time to meet with a real estate agent. Of course, you can scout listings on your own, but it’s still helpful to have a realtor. These professionals are highly experienced with property evaluations and can help you consider the various pros and cons of each home and neighborhood you check out.

Start your home search

These days, the initial home viewing is usually done digitally. You can take virtual tours of available homes to narrow down your list. Then, visit open houses or schedule viewings. You may want to clear your phone’s gallery, as you’ll want to take plenty of pictures of the properties you view. You’ll also want to bring along a notebook and jot down notes about your likes and dislikes regarding each property.

Purchase your new home

Once you’ve finally chosen the home and neighborhood of your dreams, it’s time to make it yours! Talk to your realtor about the next steps in securing your home such as making an offer, including a deposit and more. At Montchanin Builders, our dedicated sales team will help you in determining the best floorplan, features and homesites available – walking you through every step of the process!

View new homes in northern Delaware from Montchanin Builders

Montchanin Builders strives to make the home selection and buying process as easy and hassle-free as possible. Visit our Sales Center and Model Home in our master-planned community of Darley Green—a beautiful, tree-lined neighborhood near the heart of Wilmington, Delaware. With so many wide-open spaces, you’ll have trouble believing that you’re just a short stroll away from incredible community amenities, including shops, restaurants, and transportation. Call today to schedule a tour of our move-in ready homes and inquire about our special financing offers.

Additional resources for home buyers: