What Does an HOA Do?
Typically, an HOA is essentially responsible for setting community rules and monitoring community behavior. These rules vary based on the HOA, the type of property involved in the HOA (i.e. residential homes vs. condos), and the wishes of the HOA board and residents. Some examples of rules might include:
- Construction and building requirements, such as homeowners not being allowed to construct fences over a certain height;
- Behavioral and lifestyle requirements, such as not keeping more than two pets or maintaining shades of a certain exterior home color; and
- Basic common responsibilities, such as picking up after one’s dog, paying HOA dues, not littering, maintaining lawn, etc.
A study titled “Consumer Housing Trends Report 2017” published by Zillow Group explored the ways that those living in America think about where they live, including how and where they buy and rent. We wanted to provide a summary of some of that data, focusing on what’s drawing homebuyers to new homes. Three of the biggest factors that influence new home buying include location, appealing features, and income.
First, a look into what we know about homeowners in America, including things like their reported ethnicity, marital status, income level, and more.
The Zillow report explains that the majority of homeowners are Caucasian (76 percent) and married (68 percent). The median income for the average homeowner is just over $62,000 a year.
Most homeowners purchase a new home as an investment, and some even view their home as a “reflection of who they are personally.” Nearly 90 percent of homeowners say that they have no plans to sell their home within the next three years. What’s more, nearly 50 percent live in the first home that they purchased.
As a note, the demographics of current homeowners and homebuyers are different. The report explains that the average homebuyer in America today is young and educated, and that the annual household income amongst homebuyers has increased to over $87,000.
Things that Draw Homebuyers to New, Never-Before-Lived-In Homes
So, we know that homeowners want to invest in a home as part of their financial plan, and want to live in their home, but why do some people choose brand new homes over older homes?
When looking at homebuyers’ wants and needs, we’ve found some key takeaways. Some of the key wants and needs of homebuyers today include:
- Air conditioning (which was rated as being more important than a yard or patio)
- Ample parking
- Great bathrooms (58 percent say that the preferred number of bathrooms is a requirement)
- Appealing kitchens (preferred finishes for countertops, flooring, etc.)
- Energy efficient appliances
Location is one of the most important features in a home for a potential buyer, with things like proximity to work, friends and family, and a preferred school district making a big difference. As stated above, safety – which is dependent upon location – is also a big priority. Whether or not public transportation is in place is key, too, with almost 50 percent of buyers saying that proximity to public transportation matters to them.
A huge thing to note is that over half of homebuyers are considering new construction homes as opposed to older, already existing homes. 43 percent say that this is because of the desirable location of new construction homes, and 39 percent say that appealing features (like custom finishes and energy efficient appliances) make them want a new home. Those who make more money are more likely to buy a brand new home, with 65 percent of buyers who make over $100,000 per year considering brand new homes.
New Homes for Sale in the Northwest
If you’re looking for your dream home in the Pacific Northwest, we’re building attractive, friendly communities in Idaho, Washington, and Oregon. We have homes for sale you’ll love, and want to be your homebuilder of choice. If you’re buying your first home or looking for a new place to live, we can help. Contact us today to learn more.
With kids being out of school this week and families spending more time indoors during the winter holidays, you may start to notice some things that you don’t like about your home, ranging from outdated fixtures and floor plans to cramped spaces and storage. As such, this holiday season, you may be wishing for something newer and nicer. But if you’re wondering whether to remodel or not to remodel (i.e. buy a home instead), here are some things to think about:
Many people who envision a brand new kitchen or adding a room to an existing home fail to think about the time, energy, and work that really goes into a home renovation. Not only would you be looking at thousands of dollars put towards your renovation, but you may also have to deal with weeks’ or months’ worth of work and construction in your home. Not only is this a major inconvenience and hassle, but it can also mean that remaining in your home isn’t possible. For example, if you can’t use a bathroom or your kitchen for multiple weeks due to a bathroom remodel or a kitchen remodel, what will your family do?
Another thing to think about if you’re weighing the pros of cons of renovation vs. upgrading to your dream home is this: if you do one renovation now, will you need to do renovations on other parts of your home later on to ensure that style and ambiance of your home match? One thing that many homeowners fail to think about when renovating is how much a renovation can change the feeling of the home, and how strange it can look when one part of the home has a 1980s (or older) feel, and the other part is updated and modern. Rather than dealing with this issue, many prefer working with a custom home builder who can help them find a brand new home with consistent styling throughout.
Sure, you can remodel a kitchen, replace carpet, or renovate a bathroom. But at the end of the day, you may still be dealing with old foundation, pipes, heating and cooling systems, and structural issues. As such, before you spend thousands of dollars renovating, you should think about how much renovation will really improve your home value. In many cases, buying a brand new home is the best way to ensure future resale value, and comfort now!
Contact Hayden Homes to Find New Homes Near You Today
If you’re interested in learning more about new home construction in the Northwest, including the states of Washington, Oregon, and Idaho, our team wants to meet with you. If you’re buying your first home or weighing the benefits of buying new vs. remodeling your current home, discover the difference here, we can help you make a sound choice that makes sense for you and your family, and leaves you happy.
When you’re in the market to buy a home, deciding between buying brand new versus pre-owned or used is one of the first decisions to make. One thing that will influence your decision is the cost of renovation, which unavoidably come with a used home. Here are some common costs that you will likely face if thinking about home renovations, and information regarding why buying new may be the better choice financially. When you’re in the market to buy a home, deciding between buying brand new versus pre-owned or used is one of the first decisions to make. One thing that will influence your decision is the cost of renovation, which unavoidably come with a used home. Here are some common costs that you will likely face if thinking about home renovations, and information regarding why buying new may be the better choice financially.
The Cost of Replacing Systems that Keep You Comfortable
Two of the most essential, yet the most expensive, home systems that need to be replaced over time – and may need to be replaced sooner than later if you are purchasing an old home–are the heating components (furnace, water heater) and air conditioning. According to Energy.gov, the lifespan of a central air conditioning system is between 15 and 20 years, and HomeAdvisor.com reports that the national average cost of installing a new A/C system is more than $5,000. A similar story can be told for a furnace – the lifespan is between 15 and 20 years, and the cost of replacement ranges around $3,000-$3,500 between material and installation costs. This means that if you buy an old home with outdated heating and cooling systems, you may have to put close to an addition $10,000 into the home immediately just to keep things comfortable!
Repairs and Improvements Inside and Out
The other problem with older homes is that they typically are in need of repairs, replacements, upgrades or touch ups right off the bat (as soon as you purchase them) or within a five to ten-year time frame. On the other hand, you can count on brand new homes to look great and perform optimally for 15 to 20+ years before any repairs or upgrades are necessary. Things that may need some attention on an old home from the moment you move in include:
- Hardwood floors
- Kitchen cabinets, counters
- Paint – interior and exterior
Other upgrades might include things like a sprinkler system ($3500-6000) and covered patio ($2000-3000) which are becoming more common in modern homes. Depending on the age of the pre-owned home, you may be looking at complete renovations which can exceed the value of the home itself.
You may not want to stop at just giving a pre-owned home a simple facelift with a paint job – you may want to expand the master bedroom, redo the bathroom, or transform the kitchen into the one of your dreams. If any of these projects are on your wishlist, you can be sure that they will cost a pretty penny to complete. HGTV.com suggests that the average bathroom remodel costs homeowners more than $10,000, and that an upscale bathroom remodel can cost more than $25,000. Kitchen remodels are even more expensive, with the average DIY cost (the cheaper version) being more than $15,000.
Buying New or Old – What to Do?
When you’re looking at homes, keep an eye out for signs that you will need to invest in repairs or improvements. If you buy a brand new home, chances are good that you will keep these costs at bay for at least a decade, if not two or more. If you are buying a used, older home, however, it is very likely that you will spend significant sums of money on at least one of the home improvement projects listed above, if not more than one. As such, when you are thinking about buying a new home, remember that older homes often have hidden costs attached, and that by buying old, you may end up spending more than you would by buying new. If you are considering a pre-owned home, then we strongly recommend having a home inspector provide a complete inspection of the home from the attic and roof to the crawl space and everything in-between.
Move Into Your Dream Home Today
Don’t spend your free time caulking and painting. Spend your free time doing the things you want. People work hard so that they can live comfortably and pursue their passions. It’s part of the American dream. At Hayden Homes, we provide brand new, gorgeous homes in communities across three Northwest states – Washington, Oregon, and Idaho. Whether you’re thinking of buying your first home, or are shifting into the role of homebuying for the second, third, or fourth time in your life, we are here to assist you in finding the perfect home for you and your family. Our homes are attractive, guaranteed and designed with homeowner comfort in mind. To learn more, call us or visit Hayden Homes today.
With the economy looking stable, good interest rates, and competitive pricing on brand new homes, now might be a great time for you to start thinking about moving into that new home you’ve been wanting. Aside from those favorable external factors, here are 10 signs indicating you are ready to buy new.
1. You’re Spending Too Much Money on Repairs and Renovations for Your Older Home
Older homes can be very expensive to repair and/or remodel. If you are spending thousands of dollars on necessary repairs and renovations that you would rather avoid, a new home is for you. Brand new homes built by Hayden Homes will leave you feeling completely satisfied, which will save you bundles.
2. You Hate Your Current Commute
Are you tired of wasting time in traffic in order to get to your place of employment? If so, moving into a brand new home in a more optimally located area is for you! At Hayden Homes, we have homes in multiple communities throughout Washington, Oregon and Idaho and moving into one of our homes could end up reducing your commute times significantly!
Whether there are bad feelings between you and the neighbors, or you’ve undergone a life change, or perhaps your neighborhood is moving in a negative direction (i.e. two cars on your street have been broken into in the past month). There are many different ways people fall out of love with their neighborhood. Moving to a new community of brand new homes can provide additional comfort and security, and help you feel more “at home”.
4. You Are Sick of Your Old Home Features
Are you tired of your impractical home layout? Do you wish you had better insulation and more environmentally friendly home features? If your old home features are getting you down, costing too much in maintenance and utility costs, or are just plain unattractive and burdensome, it may be time to move.
5. You Are Ready for a Little Luxury
One of the best things about moving into a brand new home is that wonderful brand new feeling. It’s a fresh new start that won’t wear off anytime soon. With expansive spaces like master closets, brand new appliances and vibrant kitchen lighting, a luxurious tub that has never been bathed in before, and more, don’t you think it’s time to start treating yourself right?
6. You’ve Been Saving
Whether your current home has appreciated greatly or you have been putting away cash each month waiting for the day that you could move, if your savings account is looking pretty plush, the market is good right now. It’s a great time to sell an older home. Buying a new home now, before interests rates increase as they are expected to, may be a wise financial choice.
7. You Want to Save Time on Maintenance
Maintenance doesn’t just cost money – it takes your time, too. When you reduce the amount of hours that you dedicate to home maintenance, like caulking and painting, fixing a leaky roof, repairing problems with old appliances, etc. you have more time for other things in life, like planting flowers, enjoying time with family, exercising and relaxing!
8. You Need a Change for Personal Reasons
There are a number of reasons why your current home may no longer fit your personal needs. For example, if you recently became empty nesters and want to optimize/downsize, or if you recently got married or have accepted a job in another location. Maybe you’re just needing a fresh start. A new home can make a difference.
Getting married? Expanding your family? Having a baby? If so, congratulations! If your current home won’t fit your family growth plans, upgrading to something new and that has up-to-date safety features to help protect little ones – is advantageous. Kids also need room to play and their toys need sustainable storage solutions. Explore our floorplans to find one that makes sense for your growing family.
10. You’re Longing for Something New
Finally, maybe you just want something new. If it works for you, your family, and your budget, then what’s the hesitation? Come check out one of our new home models near you today to learn more about what we have to offer.
About Hayden Homes
For nearly 30 years, since it was established in Redmond, Oregon, in 1989, Hayden Homes has built more than 12,000 new homes in over 300 new home communities, across more than 50 cities, spanning Oregon, Washington and Idaho. Hayden Homes continues to be the largest, privately held new homebuilder in the Pacific Northwest.
Hallmarked by a commitment to build high-quality, value-driven new homes, Hayden Homes supports local communities by employing local contractors and vendors and contributing annually to philanthropic efforts in the communities in which they build. Since 1989, Hayden Homes has contributed more than $9 million to charitable donations with the flagship of their giving through the 501C3 Non-Profit, First Story. The Hayden Homes brand family of companies include – Simplicity by Hayden Homes, Wise Size Homes and Hayden Homes, all providing an unparalleled selection of opportunities for those looking to purchase in a new home community in a new home community in the Eugene area, including new homes in Eugene, new homes in Springfield, new homes in Albany and new homes in Medford.
Whether you are currently renting and you are ready to become a first-time homebuyer, or you own your home but are looking for something nicer or in a different location, you are faced with a choice: buy a brand new home, or buy a used home. While both have their advantages, buying a new home has some major advantages for the following reasons.
If you have ever upgraded an old appliance to a newer energy efficient model, a furnace for example, then you have surely seen the money savings. What a great feeling it is to save money and promote sustainable energy, which is why buying a new home rather than a drafty older one is one of the top reasons Hayden Homes’ customers decide to buy new! Our new homes are equipped with energy saving windows systems and appliances. Which in turn, can add a little extra cash, in saved energy expenditures, to your wallet over time.
If you are buying a new home, then you have the opportunity to make personalized decisions about YOUR home – colors, finishes and fixtures. Of course, it also means that you get to choose your floor plan, number of rooms and more. This can be great if you have always dreamed of a huge walk in closet, a home office, a spare bedroom, a home gym, or something else that personalizes your home. We invite you to explore our exciting home plan gallery, and please contact us with any questions you may have regarding personalizing your home.
Older homes need a lot of TLC when it comes to maintenance musts, ranging from fixing that leaking roof, to repairing the water heater, to replacing the carpet. The list goes on and on and on. If you simply want to enjoy your home without having to worry about constant repairs and maintenance, then buy new. Don’t let your used home take up your valuable time. The choice is yours. You can spend your evening hours and weekends doing things like painting and caulking, or you can spend that time where it matters – enjoying your hobbies, playing with your kids, or hosting friends and family.
You want your home to be as safe as possible, especially if you have little ones – or plan to have little ones – running around. Unfortunately, used homes aren’t always as safe as they should be. Dangers ranging from defective electrical wiring or outlets, lead paint and asbestos, to garage doors without automatic reversal systems…these can create unnecessary risks. With a new home, you can rest assured in knowing that each part of your home meets the current safety standards.
Not only do you get that prized new home feel, but when you buy a new home, the materials and products in your home will be under warranty. This gives you peace of mind that if anything breaks down or stops working, you’ll get it fixed or repaired free of charge. Also, if you haven’t heard about Hayden Homes’ Zero Defect Guarantee and one-year builder warranty, you can enjoy your new home knowing that we’ll be here long after you get the keys to your beautiful new home.
Find Your Dream Home Today
If you are ready to start looking at new homes in the best communities the Northwest has to offer, Hayden Homes is here to help. Get in touch with us today to browse our selection of new homes, schedule a showing, or learn about financing options for those with approved credit.
About Hayden Homes
For nearly 30 years, since it was established in Redmond, Oregon in 1989, Hayden Homes has built more than 12,000 new homes in over 300 new home communities, across more than 50 cities, spanning Oregon, Washington and Idaho. Hayden Homes continues to be the largest privately held new homebuilder in the Pacific Northwest.
Hallmarked by a commitment to build high-quality, value-driven new homes throughout Oregon, Washington and Idaho. Hayden Homes supports local communities by employing local contractors and vendors and contributing annually to philanthropic efforts in the communities in which they build. Since 1989, Hayden Homes has contributed more than $9 million to charitable donations with the flagship of their giving through the 501C3 Non-Profit, First Story. The Hayden Homes brand family of companies include – Simplicity by Hayden Homes, Wise Size Homes and Hayden Homes. All providing an unparalleled selection of opportunities for those looking to purchase in a new home community in Boise, new home in Nampa, new home in Caldwell, new homes in Meridian, new homes in Kuna, or new homes in Star, Idaho.
If you are thinking about selling your old home and buying a new home, but aren’t sure if doing so is the right choice for you at this stage in life, consider this list of reasons to say goodbye to your current abode.
If you’re expanding your family, your current home may not be large enough to provide adequate space for you, your significant other and any children you may have. Expansion may also be necessary if you wish to add a guest bedroom, entertainment room or mother-in-law suite.
2. Mortgage Rates Are Still Low
Unless you’re planning on buying your new home in cash, understanding mortgage rates and how these rates may affect you is important. Currently, the average fixed mortgage rate for a 30-year loan is just above four percent.
3. Your Floor Plan Is Outdated
If you have an older home, you probably have an outdated floor plan that doesn’t make sense for your style or your stage in life. Common complaints include entry living rooms that hardly ever get used, cramped kitchen space and narrow halls and stairways. Open layouts – which were not popular more than a decade ago – are all the rage today.
4. Maintenance Will Cost You
If you have an older home, performing maintenance on that home may cost you a significant sum over the years. From plumbing to roofing fixes, new floors to new paint, buying a new home that’s up-to-date and low maintenance will last for years to come may save you time, money and stress.
5. Move Locations
Tired of where you live? Sometimes we all just need a change. Sharing a neighborhood with like-minded neighbors and living in a new, exciting subdivision with access to a clubhouse, pool and/or neighborhood park are all major perks!
6. It’s Time to Downsize
Just as some may need to upsize in order to create more space, others are looking to downsize. As you age, moving into a smaller home that requires less time and work to maintain may be ideal.
7. You Can Make a Profit
Depending upon where you live, the size, and the value of your home, you may very well make a profit by selling. By selling, you can leverage the equity that you have acquired in your current home, and put that towards a down payment on a new home and come away with a very manageable mortgage.
8. Demand Is High
It’s a great time to sell right now. The demand for buying homes is high in many areas of the country right now, meaning that if you want to sell, now may be the perfect opportunity to relocate to a new home in Oregon, Washington or Idaho. More demand means higher home value when selling.
9. You Want to Upgrade
Tired of carpet? Sick of linoleum? Interested in smart home features and brand new appliances, floors, and countertops? If you’re ready for an upgrade, buying a new home is where it’s at. Buying a new home may be more cost-efficient than remodeling your current home.
10. Health or Age Dictates a Change
As you age, or if you develop any health conditions, you may need to move into a new home for a variety of reasons, ranging from proximity to hospitals or health centers to the ease of one-story living.
These are just a few of the great reason why it may be the perfect time to buy a new home. If you’re ready to buy a new home, our home buying experts at Hayden Homes can help. Contact us today to explore our Hayden Homes’ communities and new homes for sale in Oregon, Washington and Idaho.