new homes in Delaware

Why Buying a Condo May Be Your Smartest Investment Yet

Whether you’re buying your first home or your fifth, you’ll love the flexibility, freedom, and affordability of condo ownership. Here are some of the top reasons why buying a condo is a great long-term financial investment.

Condos are an affordable option for home buyers

Luxury condos are often more affordable than you might think. This is because they share land and exterior walls with their neighbors, which keeps costs low while still giving residents exceptional space, privacy, freedom, and amenities.

Condo owners save on maintenance costs

Yet another reason why it’s a smart investment to buy a condo is that they do not require the extensive, ongoing maintenance that a single-family home demands. With a single-family home, the homeowner is responsible for maintaining the exterior appearance of the home site. The homeowner must either spend hours each weekend mowing the lawn, weeding the flower beds, and irrigating both, or hire a landscaping company to take care of these tasks. It can not only be a hassle, but also expensive, and can take the fun out of homeownership.

On the other hand, owners of condos don’t have to worry about exterior maintenance. This is because condos are typically covered by a homeowner’s association (HOA) agreement. The HOA usually takes care of all of the exterior maintenance on the property.

Condo ownership is an investment in real estate

Buying a condo is not only an affordable entry point into homeownership, but it can also be much more financially advantageous in the long run as compared to renting. Over time, the value of your property will likely increase. As a condo owner, you are building wealth by investing in real estate. With each monthly mortgage payment you make, you are growing equity and value while reducing the principal. Renters, by contrast, make monthly rent payments that help their landlord build equity, not themselves.

Beyond the financial benefits

If you have been renting in an apartment building for a long time, you already know the substantial drawbacks to this living arrangement. One of them is that apartment tenants lack the freedom to make aesthetic changes to their homes. Since they don’t technically own the home, these tenants are typically prohibited from changing the wall colors, replacing the carpet with wood floors or vice versa, and changing other features of the home’s appearance.

On the other hand, condo owners have a great deal of freedom with the appearance of their homes. Once you buy your own condo, you can change its design to reflect your own unique style and tastes.

Find beautiful condos for sale in New Castle, Delaware

If you’re interested in buying a condo in New Castle County, Delaware, Montchanin Builders is here to make things easy. Our beautiful, luxury condos in the heart of Wilmington, Delaware are available at affordable prices.

Our much-coveted condos feature two stories of architecturally exquisite space nestled within the carefully manicured landscaping of Darley Green—one of our master-planned communities. Plus, they are just a short walk or drive away from a wide range of local amenities, like fine dining, arts and cultural attractions, and nightlife. To discover more about our available homes for sale in Wilmington, Delaware, call Montchanin Builders today.

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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.

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The Cost of Not Owning Your Own Home May Surprise You

The decision to buy a home is a big one. One of the biggest factors to consider is whether you can afford to buy a new house. Becoming a homeowner involves making a down payment, paying the mortgage each month, and purchasing homeowner’s insurance.

While these expenses are significant to be sure, buying a home may be much more affordable than you think. In fact, when you discover all of the financial advantages of owning a home, you may decide that you can’t afford NOT to buy!

The cost of not owning your own home just might surprise you. If you choose to remain a renter, you will miss out on a lot of financial incentives of homeownership, and you will have to contend with the many hidden costs of renting.

Renting your home won’t give you equity

The opportunity to build home equity is one of the most compelling reasons to buy a home. Equity is earned with each mortgage payment. It refers to the amount of the home that you own. For example, if you make a 5% down payment, you’ll earn 5% of the home prior to your first mortgage payment.

When you rent your home, your entire rent check goes to fatten your landlord’s wallet. Your landlord uses it to pay off the mortgage on the rental property, which means that every rent check you write is building your landlord’s equity. As a renter, you aren’t receiving any long-term benefits from it.

Renting your home could raise your income taxes

One of the surprising ways that not owning your own home costs you is the effect on your income taxes. Homeowners have the ability to count their property taxes and all of the interest they pay on their mortgage as deductions on their annual tax returns. Renters aren’t able to do this.

Renting your home may mean paying extra for storage

Let’s face it: Apartments don’t typically have a great deal of storage. Unless you’re a dedicated minimalist, you’ll probably accumulate a lot of stuff over the years. And you’ll need a place to put all that stuff, which means that you may need to fork over some hard-earned money for a long-term storage unit. Those monthly storage payments can add up.

Renters may move more frequently than homeowners

Another hidden cost of being a renter is the cost of moving. A typical lease will only last a year. Once it’s up, renters are often on the lookout for a better place (perhaps next to quieter neighbors). In 2017, 21.7% of renters moved, compared to 5.5% of homeowners. Each time you move, you have to either pay professional movers or rent a truck and do the backbreaking work yourself. Plus, each new apartment requires a new deposit and new fees. In addition, you’ll have to take time off work and lose your vacation hours.

Join our community of satisfied homeowners in Delaware!

If you are taking a look at the Wilmington, DE real estate market, there is a good chance you’ve already come across Montchanin Builders. We are the area’s premier home builder, with multiple master-planned communities in prime locations close to exceptional amenities. Our new construction homes in New Castle County, DE are architectural masterpieces situated within friendly, walkable communities.

Give us a call to schedule a tour. Be sure to ask us about our special financing offers through our lending partner, Cardinal Financial!

Additional resources for home buyers

3 Creative Things to Do for Valentine’s Day close to Wilmington, DE

Valentine’s Day is approaching quickly, and love is in the air in Wilmington, Delaware! If you haven’t yet decided where to take your special someone this Valentine’s Day, there is still plenty of time to book a reservation at one of the many fine restaurants in the area. Or, check out one of the other creative date ideas below.

Slainte: A Stand-Up Comedy Show

Couples and singles alike will enjoy this creative take on Valentine’s Day. Head over to the Sligo Irish Pub at 113 West State Street in Media, PA. It’s only about a 30-minute drive from Wilmington. Slainte: A Stand-Up Comedy Show is offering a special Valentine’s Day edition of their show, which includes Peggy O’Leary, the NBC Stand Up semi-finalist. On February 14, the doors open at 7:30 PM and the show lasts until 10:30 PM. General admission is only $10, but just five bucks more will give you guaranteed seating and waitress service.

Adults Only Paint Party

Interested in showing off your artistic talent? Bring your significant other to the adults-only Paint Party at Sippin’ Pic’s on 3901 Conshohocken Avenue in Philly. It’s just a short drive up the I-95 to Philly from Wilmington. You and your partner can enjoy a live band playing love tunes while you work on a Valentine’s Day-themed painting. This event will also feature dancing and karaoke. Light refreshments are included in the cost of admission, which is $25 per person. Plan to be there by 8:00 PM on Friday, February 14th. The event lasts until 11:00 PM.

For Love and Oysters

When planning a Valentine’s Day date, you can’t go wrong with a reservation at one of the most distinguished restaurants in Philadelphia. The Olde Bar is offering a special Valentine’s Day event on February 14th at 5:00 PM. Reservations are required. Enjoy a special themed tasting menu for two, along with themed drinks. Interested in something a little more interactive? The Olde Bar is also hosting an event called Champagne & Oysters, which begins at 5:30 PM and lasts until 6:30 PM. Champagne & Oysters is an interactive learning event, during which you can learn more about oysters, including the proper way to shuck them.

Take advantage of the Wilmington, DE real estate market

The close proximity to fine dining, live entertainment, and many other attractions is just one of the many great reasons to make your home in Wilmington, Delaware. If you’re looking to buy in the area, you’ll want to check out the new construction homes in New Castle County, Delaware, from Montchanin Builders.

We’ve developed a reputation for building architecturally exquisite, move-in ready homes nestled within friendly, walkable communities. Enjoy wide open, green spaces and luxuriously large home sites. Call us today to ask about our special financing offers for homes in the communities of Darley Green and The Overlook at Rockford Falls!

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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!

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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!

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How to Choose the Perfect Artwork for Your Home

Your new home will reflect your personal style and design aesthetic. There really are no unbreakable rules of selecting artwork, since every individual will appreciate art in different ways. However, there are some general guidelines that you can follow to help your home’s décor appear well-balanced and tastefully designed.

Consider the feelings you wish to evoke

Artwork can inspire a spectrum of feelings, from peacefulness and serenity to surprise and excitement. Think about the feelings you wish to inspire in every room of your home. For the kitchen, many people like to choose whimsical pieces, including word art. In the bedroom, you might want the artwork to inspire relaxation, as many people view the master bedroom as a sanctuary. This is why abstract pieces work well here.

In the more public rooms of your home, such as the formal dining room and living room, you might prefer to choose pieces that will spark conversations. Look for surprising or intriguing artwork that is boldly designed to capture the eye. Artwork with a nature or landscape theme works well in the bathroom, as it inspires feelings of serenity.

Lastly, if you have a home office, you might want its artwork to encourage productivity and bring positive vibes to the room.

Choose the right size artwork for each room

It’s likely that the biggest pieces of artwork will go in the living room and bedrooms. It’s usually best to choose large artwork to fill large spaces and small artwork to fill smaller spaces. However, you can break this rule if you wish by filling a large space with a cluster of smaller pieces that embrace a shared theme. It’s best not to break this rule by hanging a large piece in a small room like the bathroom, as this will feel overwhelming. However, you could place two very small pieces side by side if space allows.

Look beyond paintings and prints

When most people hear the word “artwork,” they automatically think of paintings and watercolors, as well as more affordable prints. However, artwork can embrace three-dimensional media. Look for sculptures and unique conversation pieces, like an African drum or a Native American dreamcatcher. Ideally, choose 3D artwork that follows the same general theme or style as your wall art for any given room.

Consider incorporating different textures as well. For instance, you could hang an artistic tapestry on your living room wall in lieu of a painting.

Find your dream home at a Montchanin Builders community

Homebuyers in Delaware are asking, “What are the best move-in ready new homes near me in Wilmington, DE?” Our answer is that it’s time to check out the beautiful new homes available from Montchanin Builders. We focus on building walkable, neighborly communities with luxurious, finely crafted townhomes and single-family homes. Our master-planned communities of Darley Green and The Overlook at Rockford Falls still have homesites left, but they’re going fast so don’t hesitate to get in touch with us to schedule a tour or request more information! You can reach us by phone or check out our new homes in northern Delaware online.

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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!

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Hot Spots to Hit During Wilmington Beer Week

When the leaves start to turn in the fall, it means one thing: it’s time for Wilmington Beer Week! Head downtown between November 4 and November 9, 2019, to take advantage of some incredible craft beer selections and special events, like tap takeovers, beer dinners, and celebrity brewers!

BBC Tavern & Grill

This popular stop is found at 4019 Kennett Pike. It’s a hip and casual tavern that offers everything from comfort food to light salads. Enjoy your craft beer by the roaring fireplace or, if it’s a warm evening, take it to the outdoor patio. For Beer Week, they are hosting a tap takeover.

The BBC Tavern & Grill actually began life as a brewery. Originally called the Brandywine Brewing Company Restaurant and Brewery, this unique local hotspot brewed its own beer right at the location and served pairings with scratch-made meals. When it was time for them to move, the new location didn’t have enough room for the brewery, but the tavern still serves up delicious food.

Chelsea Tavern

You’ll find Chelsea Tavern at 821 North Market Street. This local favorite is hosting an event for every day of Beer Week! Join them on Monday night for Monday Night Firkin and a pint of the “official Wilmington Beer Week brew”— Out & About Oyster Stout. Tuesday is trivia night, Wednesday is “Around the World in 5 Beers,” and so on.

Ernest & Scott Taproom

Visit the Ernest & Scott Taproom at 902 N. Market Street. They offer traditional American pub cuisine by executive chef Dominic Fauser. During Beer Week, all beers are half-priced with the purchase of an entrée (limit of three half-priced beers per entrée). The chef recommends pairing the sweet and smokey baby back ribs with a Founders All Day IPA.

Iron Hill Brewery & Restaurant

Visit this popular brewery at 710 Justison Street (formerly known as South Madison Street). They offer delicious, contemporary American cuisine. For Beer Week, you can take advantage of their $8 Wilmington Beer Week Flight, which includes Das Boot, Philly Special, Oktoberfest, and Out & About Oyster Stout.

Homes for sale near Wilmington, DE

The fantastic festivals and other exciting local events are just one more reason why Wilmington, Delaware is a great place to live. If you’re in the market for new construction homes in New Castle County, Delaware, be sure to check out the home sites available at Montchanin Builders. We are a premier building company that creates master-planned communities. Our walkable neighborhoods feature beautifully designed homes built by master craftsmen.

Call us today to schedule a tour of new homes in northern Delaware, or to discuss special financing offers. Be sure to ask us how you can get $15,000 off on select homesites at Darley Green!

More information on Wilmington Beer Week:

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!

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