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Berkshire Lakes
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I help buyers and sellers in Berkshire Lakes in Naples.
I help buyers and sellers in Berkshire Lakes in Naples.

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#Hack Your Mind : concentrate to change the direction of the train with your mind
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Thanks for the invite!

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Good Info
Should You Purchase A Newer Home?

Experts predict that there will be an estimated 900,000 new homes that will be built this year and this will provide a challenge for people selling older homes, this is due to the things that newer homes have to offer such as state of the art appliances and the latest design trends. Though there could be different reasons as to why potential buyers choose to purchase newer homes such as what they get for the money they spend. A recent report released by the Census Bureau says that newly built homes are actually a superior deal than competition already on the market. This is due to the fact that newer homes come with very low operating costs and when you combine that with the record low mortgage rates these days buyers can really see the savings add up. So how much money can you expect to save when purchasing a new home?

A study done by the National Association of Home Builders analyzed that exact subject. This study revealed that new homes are less expensive to up keep in several aspects such as property taxes, insurance, general maintenance, and utility expenses. However a property does not need to be built in 2013 to obtain these advantages. Some properties that have been finished for a few years can still produce these advantages. The study also revealed that properties built after 2008 cost 3% or less of the homes total value on average to maintain each year. Properties built before 1960 cost up to 5% of the homes total value. This means that a potential buyer is able to spend 23% more on a new home and still spend the same each year to maintain it. This also means that someone purchasing a newer home can afford a larger more lavish property and still pay around the same amount in the long run.

Expert’s caution that these advantages won’t be around forever, and that once mortgage rates start to increase towards 4% and higher the savings will start to go away. Experts believe that the higher selling prices will be accompanied by higher interest, thus buyers with larger monthly payments will cancel out any potential savings the new home would have over an older smaller property. These experts encourage potential buyers to purchase a home new or old sooner than later in order to take advantage of the low mortgage rates that won’t last long. However currently a newer home is the better deal and will provide more bang for your buck.   

http://www.waterfront-properties.com
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Here's today's #comic . Enjoy your day!
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