New Homes Delaware

Get Your Spring Cleaning Done Early: Here’s How to Start

Some spring cleaning projects may require warmer weather, but you can easily tackle many of the tasks on your list while the days are still chilly and shorter. Take the time now to check these tasks off your spring cleaning list and spend the first days of warm weather outside enjoying the sunshine.

Surface clean

It might be difficult (and distracting) to scrub the backsplash when dishes are in the sink or touch up your floorboards with dirty laundry scattered everywhere. Start each spring cleaning session with a quick tidying up to get the small things out of the way so you can focus on the big stuff.

Declutter

It’s easy for clutter to build up in the different areas of your home—paperwork in the office, old clothes in the closet, that weird dish set your aunt gifted to you three holidays ago. On those especially cold winter weekends, work on filing important paperwork or donating those clothes that have been sitting in the back of your closet all winter.

Clean the linens

When’s the last time you’ve cleaned your curtains? The couch cushions? The dog bed? Start the laundry loads one category at a time, washing comforters, decorative pillowcases, and table clothes that have been collecting dust and germs all winter. You can keep the loads rotating while you work on other chores, or free yourself of the task by dropping them off at your local laundromat.

Wipe it down

You have a load in the laundry, and everything is in its proper place. Now, start the wipe down, moving room to room. Scrub the mirrors in the bedrooms, the backsplash in the kitchen, and the grout in the bathroom. Be sure to get the top of the fridge, ceiling fans, window sills, tall shelves, and other items that don’t usually make your daily chores list.

Scrub the floors

Now that you’ve pushed the dust from the shelves to the floors, it’s time to work your way down. Grab your mop bucket and hand brushes to get deep into corners and grouts. Tip—use shoe polish to brighten stained grout. You can also finally put those extra vacuum heads to use and pull up dirt, hair, and grime that’s gotten trapped at the edges of your carpet.

Get the vents and furnace, too

You can dust, sweep, and mop all you want, but if you aren’t cleaning out your vents and changing the filters on your furnace, you’re just circulating that dirt and dust into other parts of your home. If your heating or cooling unit is older, it’s a good time to get them checked professionally, too.

Are you adding house-hunting to your spring to-do list?

Whether you’re looking to buy your first home or want to move on from an aging house, adding “house-hunting” to your spring to-do list will help move you in the right direction! We invite you to schedule a viewing of the luxurious and affordable move-in ready homes available from Montchanin Builders. Take advantage of contemporary open floor plans, personalized design features, and competitive pricing. Don’t forget to ask about the attractive financing options offered by our celebrated lending partner, Cardinal Financial.

To view magnificent new homes for sale in Wilmington, Delaware, call today to schedule an appointment!

5 Reasons to Buy Your Dream Home This Year

Everyone deserves a home they can be proud of, but for a lot of people, the thought of buying their “dream home” seems out of reach. Is it possible to find something that ticks all the right boxes without stretching your finances too thin?

Absolutely, and there are a few good reasons that 2020 may be your year to fall in love with the home of your dreams.

An investment in your future

Every mortgage payment brings you closer to the American dream of homeownership. Look at it as a wise investment that will help you build equity and improve your financial security over the long-run. Given housing market trends, your dream home is likely to increase in value over the years. What you buy for $300,000 in 2020 could sell for $350,000 or more down the road. Those mortgage payments are fostering your equity – something you can tap into later for education expenses, retirement, and other costs. Rent payments, on the other hand, is money you will never see again.

Affordable mortgage interest rates

According to Freddie Mac, the average 30-year mortgage rate was 3.60% in late January of 2020, and economists believe rates may even dip lower in the coming months. Compare this to the 2018 high of 4.94%. Bottom line: mortgage interest rates are low, and they may spike again, so buying now lets you purchase ‘more house’ for your money.

Be part of a community

Being a homeowner offers other benefits, especially when it comes to connecting with others. It provides a chance to meet neighbors, develop new friendships, and be an active part of your community. Whether it’s a Saturday morning jog or a backyard BBQ, these moments can enhance the quality and enjoyment of life.

Less expensive than renting

Rent prices in gentrified neighborhoods are on the rise, making renting an expensive proposition.  When you purchase a home (and opt for a fixed-rate mortgage), you know your monthly payments will stay the same. Plus, you’ll be building equity and can reap the myriad benefits of living in a home that is 100% yours.

Tax advantages

Another financial incentive to buying a home is the tax deduction you get for both property tax and mortgage interest. This can save you thousands of dollars each year, and in some markets, can make it less costly or equivalent to renting.

Discover beautiful move-in ready homes in Delaware

If you’re ready to take the plunge but without breaking the bank, it’s time to explore the new construction homes in Wilmington, DE by Montchanin Builders. Homebuyers will be delighted with the variety of contemporary floor plans, quality craftsmanship, and state-of-the-art features, not to mention low maintenance expenses since everything is brand new.

Take advantage of attractive financing options on our spacious townhomes and condos in the master-planned community of Darley Green. Call us today to schedule a home tour and make 2020 a year to celebrate!

Additional Resources:

  1. Themortgagereports, Will mortgage rates go down in February 2020? https://themortgagereports.com/32667/mortgage-rates-forecast-fha-va-usda-conventional
  2. Homeadvisor, Why Buy a House? https://www.homeadvisor.com/r/why-buy-a-house/

Winter is the New Spring for the Home Shopping Season

For quite a long time, spring has been the traditional time for prospective home buyers to begin searching for their ideal home. It seems only natural for people to prefer driving around looking at homes for sale during sunny, warm weather compared to the chill of winter. However, realtors have noticed a significant uptick in the number of people looking at homes for sale during the winter.

If this trend continues, homebuyers who wait until April to begin searching in earnest may be missing out on some great deals. If you’re thinking of checking out the houses for sale in New Castle County, Delaware, here’s what you need to know about the real estate market in the winter.

A look at recent home buying data

This recent home buying data is courtesy of Realtor.com, which surveyed home buyers and searchers in 20 major metropolitan areas across the U.S. Realtor.com conducts this survey every year. Since 2015, they have noticed that people have consistently been searching for a new home for sale earlier in the year.

In 2015, the average views per listing on the home sale website were highest in April. January fell behind April by 16 percent. However, by 2019, February had racked up the most average views per listing. January was close on February’s heels, behind by just one percent. A Senior Economist at Realtor.com, George Ratiu, had this to say: “With housing inventory across the U.S. expected to reach record lows in 2020, we expect to see this trend continue into the new year.”

Ratiu further noted that the trend may be driven by homebuyers who want to get a jumpstart on the process in the hopes of gaining a competitive edge when it comes to pricing and inventory.

Why winter is a great time to look for a new home

People have been flocking to home viewings in winter because they know that there is less competition during this time of year. While January and February have certainly picked up in activity, homebuyers can still get a head start on their search by starting to look for a new home as early in the year as possible. Furthermore, if you do begin your search in the winter, you can expect home listing prices to be lower.

Another factor in your favor is the fact that it can actually be easier to move during the wintertime. During the summer, professional movers are incredibly busy. Their prices increase, and they can be booked for weeks, if not months in advance. In contrast, movers often advertise discounted rates during the winter because they need to drum up more business.

Search for your new home in Delaware today

Montchanin Builders makes it easy for homebuyers to get into the new house of their dreams. Our architectural masterpieces are nestled within walkable, master-planned communities where residents have close access to amenities, yet still enjoy wide open green spaces. Our homes for sale in Wilmington, Delaware are luxuriously appointed, yet competitively priced.

Winter is prime home shopping season, so don’t delay booking your appointment to view a move-in ready home by Montchanin Builders. You can get in touch to schedule a tour of our communities: Darley Green and The Overlook at Rockford Falls.

Additional resources:

3 Mistakes to Avoid When Selling a Home in 2020

If you’ve decided it’s time to move, you’ll undoubtedly want to sell your home quickly for the highest price possible. However, it’s important to take some time to plan the process and understand what to expect. Lots of home sellers make a few critical errors that can negatively affect the sale price and process, as well as their move to their next home. For best results, avoid the following mistakes when selling your home during 2020.

Spending too much on renovations and upgrades

If you want your home to sell both quickly and for the highest amount possible, you’ll probably come to the conclusion that some renovations and upgrades are necessary. For example, you might decide to overhaul the kitchen and bathrooms, install new flooring, or even knock down a wall or two.

While it’s definitely a good idea to get your home in great condition before putting it on the market, it’s in your best interest not to spend too much time or money on the renovation process.

Spend wisely. For example, it might not be worthwhile to pay an arm and a leg to give your home automated, motorized window treatments, as these are not a major selling point for most home buyers. However, a fresh coat of neutral paint, energy star-rated appliances, and new carpeting would definitely appeal to most buyers.

Failing to disclose the home’s history

When you’re trying to sell your home quickly, you might be tempted to avoid disclosing certain facts. However, covering up your home’s history is not only potentially unethical, but it can also affect the closing. Buyers will have an inspector conduct a thorough evaluation of your home, uncovering signs of past or hidden damage. If you’ve failed to disclose your home’s history, the buyers might wonder what else you’re hiding from them, and they might decide not to buy it after all.

Waiting too long to look for your next home

Don’t wait too long before you start looking at new homes in northern Delaware. It’s often thought that buyers should sell their old home before buying their next one. But actually, it usually makes sense to buy first and sell second. Once you buy your next home, you can begin moving your possessions to it, which will make it far easier to stage and sell your old home. Plus, you won’t have to worry about finding temporary housing after the sale.

Look for your next home with Montchanin Builders

Even before you’re ready to put your old home on the market, you can begin looking for your new home with Montchanin Builders. Our talented architects and craftsmen create master-planned communities with thoughtfully designed homesites and beautiful, functional homes. You can request a tour of our move-in ready homes in Wilmington, Delaware and tour our friendly, walkable communities.

When you’re ready to talk financing, we’ll get you in touch with our partner, Cardinal Financial. We’ve selected Cardinal Financial to offer personalized financing to our customers —which means you’ll have access to some of the lowest rates and closing costs available! The talented loan officers who work with our customers can help you navigate the process of buying a new home while your old home is still on the market or in the process of being sold. Call us today to learn more!

Additional resources for home sellers and buyers:

4 Myths Holding Back Home Buyers

Have you ever driven around a beautiful neighborhood and thought, “I could never afford to live here.”? You’re not alone. There are a lot of myths holding back potential home buyers and making them think that they can’t afford a new home (when they actually can). The truth is that, while buying a home is a major investment, it’s one that can be surprisingly affordable.

Myth: You need a 20% down payment

Conventional wisdom states that home buyers must have a minimum down payment of 20% of the home’s value. A down payment of this size will definitely allow you to borrow less and pay less in interest over time, but it’s not true that you absolutely need a 20% down payment. In fact, plenty of homebuyers have purchased their homes with a down payment as little as 3% to 5%.

Myth: You need a FICO score of 780 or higher

The higher your credit score is and the cleaner your credit history is, the easier it will be to buy a home, and the lower the interest rate could be. However, it is certainly not necessary to have perfect credit and an impeccable credit history to buy a home. In fact, many homebuyers have been able to make this major purchase despite having some credit card or installment loan debt, and a less-than-perfect credit score.

Myth: Renting is more financially advantageous

It’s true that buying a move-in ready home is a major investment. However, the key word is that it’s an investment. Investments bring long-term financial rewards. With each mortgage payment you make, you build a little more equity in your home. You can tap into that equity at a later date if you need to.

On the other hand, if you continue to rent an apartment or house from a landlord, your rent payments are only financially advantageous to your landlord. You aren’t building equity in the property you are living in. When you’re ready to move out, you’ll have nothing to show for it. The opportunity to build equity in their own homes is one of the many compelling reasons why people decide to stop renting and buy property instead.

Myth: It takes a long time to get a mortgage

If you truly want to own your own home, you shouldn’t let the thought of getting a mortgage hold you back. It’s easier and less time-consuming than you might think. This is especially true if you work with a home builder like Montchanin Builders. Thanks to our close partnership with one of the nation’s premier home lenders, we can get homebuyers in their new homes faster and more affordably!

Ready to view new homes in northern Delaware?

The many happy homeowners in Montchanin Builders communities are living proof that these myths don’t have to hold you back. If you think you’re ready to buy a home, you probably are. Check out our move-in ready homes in Wilmington, Delaware within our master-planned communities of Darley Green and The Overlook at Rockford Falls, and find out for yourself why so many people have chosen a Montchanin Builders home. Thanks to our partnership with Cardinal Financial, it’s easier and more affordable than ever to purchase your dream home! Call today to learn more!

Additional resources for home buyers:

5 Tips for Starting Your Home Search

Buying a new house or your first home can be stressful – from deciding on the location and features, to actually visiting each potential space. It’s a big purchase, perhaps the biggest one you’ve ever made, and you want to make sure you are investing in a property that is going to help you build wealth over time.

Whether you’re a first-time buyer in Delaware or upgrading from a current house, condo or townhome, setting your priorities early can help you breathe easier throughout the process. Here are five important items to consider when looking for your next living space.

Determine your must-haves

Before you start looking at houses, organize your thoughts and decide on what’s most important to you and your family. Telling your real estate agent you want something that includes a covered garage, soaking bathtub, or fenced-in yard can help to eliminate “losers” and narrow down your list to true potentials. Once you’ve listed everything out, pick three, five or seven “must-haves” and go from there.

Location and neighborhood

Everybody knows the true value of a home is based on its proximity to important destinations – schools, hospitals, police and fire stations, and in some cases, landmarks and city life. Yet most people are also looking for an area that matches their personality and interests. You wouldn’t expect to find a modern, neo-colonial home in an eclectic, older neighborhood. Knowing what type of place you want to live in can help you to determine what kind of features will match your lifestyle interests.

Envision your furniture inside

It may feel like you’re jumping the gun, but envisioning a potential home with your current furniture can help it feel more real. You can also get an idea of how much money you’ll need to spend on new furniture if what you currently have isn’t a good fit. From there, you can factor that information into the overall cost of the house and whether new furniture is in or over the budget.

Consider choosing move-in ready homes in Delaware

For many first-time homebuyers, finding a home that is move-in ready has massive appeal. It often can allow you to put on finishing touches to match your preferences and select styles and materials for cabinets, flooring, and fixtures. What is most attractive is that move-in ready homes mean minimal hassles, unexpected costs, or surprises.

Look for a builder you trust

With more than 60 years of combined experience, Montchanin Builders in Wilmington, Delaware have been building homes and creating communities for Delaware residents to enjoy. Our homes have been awarded and recognized for their quality construction and craftsmanship, ensuring that families and homebuyers are satisfied with every detail, no matter how small. If you’re looking for a move-in ready home, condo, or townhouse, Montchanin Builders offers everything you need.

Schedule a tour or inquire about potential financing offers by contacting our experienced professionals today at 302-655-2600. Montchanin Builders will make your home buying process easy and enjoyable!

Additional resources:

  1. U.S. News; What Does Move-In Ready really mean for your home? https://realestate.usnews.com/real-estate/articles/what-does-move-in-ready-really-mean-for-your-home
  2. U.S. News; 7 Things First Time Home Buyers Wished they’d Known, https://realestate.usnews.com/real-estate/slideshows/7-things-first-time-homebuyers-wish-theyd-known?slide=7

The #1 Reason to Buy Your Home in Winter

If you’re getting ready to buy a new home, you might be thinking about waiting until the spring or summer when more houses are generally put on the market. However, if you wait too long, you’ll miss out on taking advantage of the number one reason to buy your new home in the wintertime. If you’re ready to shop for homes for sale in Wilmington, Delaware right now, there is really no reason to wait until the weather warms up.

Lower mortgage and interest rates in winter

One of the biggest concerns on any home buyer’s mind is financing the new property. If you shop around for a mortgage in the winter, you’re likely to notice that the rates are generally lower than they are in the summer. This is because the summertime is the peak home buying and selling season. In the winter, lenders are trying to entice homebuyers to sign for a mortgage with lower rates.

Of course, your individual rate will depend on many factors, like your creditworthiness, the current economic conditions, and the lender you choose.

The lender you choose matters more than the season

Although buying a home in the wintertime is a smart decision for home buyers, there are still great deals to be had in all four seasons. In fact, who you choose to buy a home from matters even more than the time of year that you start shopping around for a new house. If you buy a new construction home in New Castle County, Delaware from Montchanin Builders, you can take advantage of our special partnership with one of the nation’s leading mortgage lenders.

Montchanin Builders has selected Cardinal Financial as our lending partner because we believe in excellence in all that we do—from designing thoughtful floor plans to crafting beautiful, architectural masterpieces, to helping our home buyers get into their selected houses with exceptional financing terms. At Cardinal Financial, our go-to mortgage specialists are Theresa Miglino and Katherine Dunckley.

The Miglino and Dunckley team have demonstrated an abiding commitment to providing unbeatable customer service to our valued home buyers. Their philosophy is that the customer always comes first, and they live this motto every day by maintaining clear and open lines of communication with customers, lenders, and realtors.

Unlike some other lenders, Cardinal Financial is a mortgage originator. This is significant because it means that the company can underwrite, close, and fully fund your home loan. This enables them to offer some of the lowest rates you’ll find anywhere in the industry, regardless of the time of year that you choose to buy your home. Plus, you’ll benefit from exceptionally low closing costs.

Looking for new construction homes in New Castle County, Delaware?

The premium financing terms aren’t the only reason to choose a Montchanin Builders home. We build masterfully designed, walkable communities close to cultural attractions, green spaces, and major amenities. Choose from our beautiful townhomes in the Delaware communities of Darley Green or The Overlook at Rockford Falls. To schedule a tour or request more information, please call today!

Additional resources for home buyers:

House Hunting Taking Too Long? Here’s the Solution

Choosing your new home can be one of the most important decisions you make in your life. Whether you’re relocating for a new job, planning to raise a family, or downsizing now that your children have left home—finding the perfect place can be long and stressful. That’s because most of us are seeking modern updates—open floor plans, large kitchens, remodeled bathrooms—but are forced to look at older homes that don’t usually measure up to today’s standards.

If your hunt for the perfect home is taking too long and you’re growing tired of touring more homes that don’t match your must-haves, there is another solution.

Homeowners can have exactly what they want by choosing move-in ready homes in Delaware. New construction homes offer a variety of benefits to home buyers and are often the perfect solution for those not willing to compromise on their dream.

5 benefits of new homes over older homes

  1. Everything is modern. When your home is newly built, you can expect all of the modern updates. There won’t be any small closets, awkward corners, or odd built-ins. You can also expect stylish, up-to-date finishes that match current trends.
  2. You can avoid the stress of remodeling. Remodeling can sound fun until you are living for weeks or months without a kitchen, your contractor hasn’t lived up to their promises, and your repairs have come in over-budget. Move-in ready homes eliminate the stress and risk of remodeling an older home, as it already features luxurious, modern finishes.
  3. You can personalize your finishes. When you decide to purchase a move-in ready home or new construction home, you can often have a say on how it’s finished. Not only can you select from a variety of floorplans, but you can also choose the style of your hardwood, cabinets, countertops, and more. This allows you to create your perfect dream home without having to start from scratch.
  4. It’s more energy efficient. Because everything is new, it also means that your home is running at optimal performance. Newer, more energy-efficient furnaces, hot water tanks, and appliances can all make a big difference when your utility bills come in the mail.
  5. You won’t have to worry about surprise updates. Older homes also come with older fixings—furnaces, roofs, pipes, electrical, etc. While home inspections can help you get an idea of what you might need to set aside for a repair budget, it’s hard to know exactly how much it will cost. When you choose a new build, you know that your appliances are brand new and often come with manufacturer warranties. This prevents surprises and allows you to use that money to furnish and decorate your new home instead.

Schedule a personal tour today

Whether you’re a Wilmington, Delaware first time home buyer or if you’re an experienced homeowner, you’ll find the home buying process at Montchanin Builders simple, informative, and unpressured. Call us or schedule a tour today today to discuss your home dreams and let us show you how we can make them a reality.

Buying a Home: Do You Know the Lingo?

Buying a new home is an exciting event, but it can also be a bit overwhelming. There is a lot of new lingo to learn, especially if you are a first-time homebuyer. Here are a few of the terms you should become familiar with before you begin the process.

Appraisal

Every home being sold should receive an appraisal from a professional, unbiased third party. An appraisal is a determination of the home’s value based on its condition, features, and location. It’s important for two main purposes. First, it lets home buyers know they aren’t paying a great deal more than the home is really worth. Second, it reassures lenders that homebuyers aren’t borrowing more than the home is really worth. This is important because the house serves as collateral in a mortgage.

Closing Costs

Even if you’re new to the home buying process, you are probably familiar with the idea of a down payment (see below). However, many new home buyers aren’t quite sure what closing costs are. “Closing costs” are an umbrella category for any expense in the home buying process that doesn’t include the purchase price of the property. These include expenses associated with the title search, title insurance, lender costs, real estate agent commissions, and taxes. It also includes the homeowner’s insurance. Although closing costs can vary, they generally average about two to five percent of the purchase price of the house.

Note that lenders are legally required to send you a notice within three days of receiving your loan application. This notice should give you an estimate of your closing costs.

Down Payment

The down payment is the amount of money you pay toward the purchase price upon buying the home. The mortgage is the loan that takes care of the remainder of the purchase price. It’s considered standard to pay 20 percent of the purchase price as a down payment — however, most homebuyers don’t actually put that much down. The down payment can be as little as 3% depending upon the mortgage program. Talk to a lender to find out how low your down payment could be.

Pre-Approval

If you obtain pre-approval from a lender, it means you’ve been approved to borrow up to a certain amount of money to buy a home. This will allow you to shop for a new home with confidence. If you’re pre-approved, the lender will give you a pre-approval letter. It states that the lender will approve the loan as soon as you submit the required documents and make an offer on the house.

Still unsure about some of the home buying lingo? No problem! At Montchanin Builders, we make the process smooth and easy. We partner with one of the nation’s most respected mortgage lenders. Their lending professionals work closely with our home buyers to ensure they are knowledgeable and fully informed about each step of the process.

You’ll also find that Montchanin Builders’ homes are surprisingly affordable. Call us today to schedule a viewing of our new construction homes in New Castle County, Delaware.

Our move-in ready homes in Delaware are located within beautiful, walkable communities close to nature trails and community amenities. Homesites are still available in Darley Green and The Overlook at Rockford Falls, but they won’t last so call soon!

Additional resources for home buyers:

couple moving into new home

New Research Says That Homeowners Are Happy, While Renters Regret Not Buying

Does owning your own home make you happier? Research says yes! There are so many perks to homeownership that it’s hard to compare it to renting. Both renting and owning your own home give you a place to live, but the similarities really end there. Here’s a look at the surveys supporting the case for homeownership over renting.

Bank of America survey of homeowners and renters

The results of a recent Bank of America survey of homeowners and renters indicate that most home buyers are much happier with their home compared to renters. One question on the survey was: “Does owning a home make you happier than renting did?” Of the respondents, 93% answered “yes!” Another question was: “Could you go back to renting after owning?” For this question, 83% of the respondents answered “no.”

The Bank of America survey also asked questions like, “Has becoming a homeowner made you a better person?” This prompted 79% of respondents to answer “yes.” Most of them pursued new hobbies after buying their own home, such as landscaping and gardening, interior design, and cooking, baking, or grilling. Homeowners also stated that owning their own home has given them a strong sense of pride, allowed them to entertain more, and brought their family together under one roof.

In addition, homeowners cited an improved quality of their social life and better financial well-being as being important reasons to own a home. They also largely agreed that, since a house is a place where memories are made, homeownership is priceless.

Zillow survey of renters

Zillow conducted a similar survey, but they focused on renters. Their survey found that renters have significantly more regrets about their housing situation than homeowners. A full 45% of renters regret renting instead of buying—compared to just 8% of homeowners who regret taking out a mortgage instead of paying monthly rent.

Some of the top reasons why renters are so dissatisfied, according to the survey, is that they don’t have the opportunity to build equity in an investment, they cannot personalize their rental home or improve upon it, and they don’t have adequate outdoor space.

Renters also regretted the rent being so high, the small size of their rental homes, not having enough parking space, having restrictions on pet caretaking, and not liking their neighbors.

Find your dream home in Delaware today!

When you’re ready to ditch the monthly rent check, you can explore our beautiful new construction homes in New Castle County, Delaware. Montchanin Builders is a premier builder of luxuriously appointed townhomes and condominiums. Our meticulously planned communities of Darley Green and The Overlook at Rockford Falls feature wide open, green spaces, neighborhood gathering areas, and close proximity to local amenities like great schools, shops, and restaurants.

All of our move-in ready homes in Delaware are exquisitely designed and built by our expert craftsmen.

You can explore fantastic financing offers available today! Call Montchanin Builders today to schedule a tour!

Additional resources for home buyers: