How do I determine how much I can spend on a home?
A comfortable monthly mortgage payment should not exceed 28% of your monthly income. However, the cost of owning a home involves more than just the purchase price. It is important to realize that things like the initial down payment and closing costs will need to be paid, along with insurance, property tax, and utilities; usually on a monthly basis. There are several first time home buyers programs available which could cover down payments and closing costs. For more information on different programs or to get prequalified see our Preferred Partners page.
Do I need a Real Estate Agent to buy my home?
It isn’t necessary to have an agent. Our sales professionals are extremely knowledgeable about our homes and communities, financing, and the entire home-buying process. However, we welcome real estate professionals and are happy to work with them to find your dream home. If you are currently working with an agent or choose to do so, he or she must accompany you on your first visit to an Ence Homes community in order to register your agent/client relationship.
What is the advantage of buying a new home? Don’t prebuilt homes include more features?
New homes have distinct advantages over pre-owned homes. Because of today’s advanced technology, building materials are frequently more durable and more effective. For example, materials used to improve energy efficiency didn’t even exist just 20 years ago. Plus, new homes offer more options for personalization, never-used mechanical systems such as your HVAC and appliances, and of course, that brand new look and feel. Pre-owned homes just don’t compare.
Should I wait until the housing market ‘bottoms out’ before I buy?
No one can predict the ‘bottom’ of any downturn. This is the best time to buy a new home in more than two decades. Right now, interest rates are low, financing options are abundant, and there’s a great choice of homes. Waiting could result in rates going up and housing choices going down. And meanwhile, your family will miss out on the benefits of living in a brand new home.
I’ve never bought a home before. Why shouldn’t I keep renting until the housing market improves?
The downturn in the housing market is actually a great thing for you as a buyer – you can benefit from reduced prices, a better selection of new home designs, and historically low interest rates. Plus, as an owner, you get to enjoy tax advantages, and you’ll be building equity for yourself and not your landlord. Our online sales consultants can answer any other questions you may have, and they’ll show you how easy it is to buy a new home.
Does Ence Homes offer a warranty?
Yes, all the homes we build are covered by our New Home Warranty and Protection Plan. We build our homes with quality products and exceed the industrial building practices. Plus, we have a thorough quality assurance system to ensure our homes meet our high standards. All this, and warranty coverage, is designed to give you complete confidence when you purchase a home with Ence.
What is your current rate?
Your rate will be based on a few things. The type of loan product chosen that best fits your situation, credit worthiness, loan amount & term of your interest rate lock.
What is my credit score?
A Tri-Merged Credit Report will determine your credit worthiness and score when you are home searching or looking to refinance. This helps to determine your available loan products and rate. However, beware, of letting just anyone pull your credit report because too many inquiries in a short period of time could hurt your scores. The higher your score the better.
Do you think prices will come down?
No. At the current time, we are offering the best home for the money and there has never been a better time to build a home. Interest rates are historically low, building costs have come down and we are offering quality construction, workmanship and quality locations. The price of a brand new home today is generally a better price than a used home and you will not have to change the paint or carpet colors, because you can make all your own selections and everything will be under warranty by the builder.
What about a short sale or bank foreclosure.
Same as above, only add that in the time it takes to wait for a short sale offer to be approved, if it is approved, you could have a brand new home. With an Ence home, you will have a builder warranty which you do not get with a short sale or foreclosure.
Does Ence Homes provide a home warranty with their homes?
Yes, Ence Homes provides a 10 Year Limited Home Buyer’s Warranty. This warranty covers everything on the home from top to bottom for the first year, all of the major structural or foundation damage from 2-yrs to 10-yrs. Ence Homes is willing to put their name and guarantee behind their homes.
Does Ence Homes allow its customer to change or alter floor plans?
Yes, Ence Homes allows a person to change and alter floor plans. The normal procedure to do this is very smooth and organized. We just fill out the normal purchase agreement with a $1,000 earnest money check, and in addition to that we fill out a custom construction addendum that requires a $1,000 non-refundable deposit. The nice thing is that this $1,000 non-refundable deposit is going to be applied to the purchase price of the home at closing as long as you agree with the final purchase price and design of your custom home.
Is building a home really that easy with Ence Homes?
The process is really great. After the agreement and addendums have been filled out, and the two deposits have been made, we will set up an appointment with our architect to sit down and draw up the exact plan that you want. It’s a hand on process where you work directly with our architect to design exactly what you would like. After the floor plan is designed, we will then send it to our estimator and he will bid out the home. If the bid comes in at the price you would like, you will then sign off on the plan and continue the building process. You will have a designated project manager that will overlook the building process and make sure everything is going to plan. Ence Homes can set you up with our preferred lender to complete the financing necessary for your new home. The only thing left after these processes is for you to move in!
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