Benefits of choosing a new construction first home purchase

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Making your first home purchase after working hard and saving is an exciting step towards independence and new beginnings. House hunting can be daunting, and it can be difficult to know where to start, however there are many incentives that are on your side and created to help you. If you dream of owning a designer home, a new construction may be suited to you – here are some of the benefits: 

Choose a suitable location 

Working with a builder, you can choose a location and neighborhood that is suitable for you. There is a vast selection of available homes, or if you’re building from the ground up, you can choose your exact spot. 

Tailor your home to you 

When you buy an existing home, you may have to compromise on certain things on your wish list. However, if you opt for a new construction, you may have the option to customize certain features during the build. 

Maintenance free 

Choosing a new home for sale means everything is completely fresh and new, so maintenance and repairs won’t be needed for some time. A new construction home also comes with a warranty, so you will be covered if there are any defects or issues. 

Ready to move in instantly 

New homes are ready for you to simply move in and start living, meaning there is no need for renovating and spending more money. Although you may be able to find old existing homes that need some TLC at a lower price point, by the time you have invested extra money to renovate and make the place feel like home, you may not have saved anything. 

Incentives from builders 

Home builders often provide incentives to first-time buyers, so it may be easier than you think to get a designer home at a price you can afford! 

If you think a new construction home may be for you and would like to explore your options with Miraval, please get in touch– we’d love to help!  

Reasons to choose a new construction home

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Whether you’re a first time buyer, want to move to a newer property or simply need to upsize or downsize, a new build home is a great option. There are many new construction homes for sale that are ready to move into at just a moment’s notice. These new construction homes often come with great incentives for buyers, offering different promotions and payment plans. 

We have put together reasons to choose a new construction home. Maybe it’s the perfect way to buy for you!  

Move in straight away 

The great thing about a new construction home is there is no waiting for it to be built. It’s already there for you to simply sign the papers and move in! 

Attractive upgrades 

New construction homes are created to be sold quickly, so they are often equipped with attractive upgrades without the extra cost. If you find the home just before completion, you may even be able to tailor these upgrades to what you want. 

Competitive pricing 

These types of spec homes are constructed to be moved into straight away and as builders invest their own money in them, they want to sell them quickly. If they have stood empty for some time, there is a chance you can request a lower price. 

Low maintenance 

New construction homes require very little maintenance. If you move into an older home, you may need to carry out repairs and ongoing maintenance, with a new-build home, you shouldn’t need to carry out this type of work for years. 

Good locations 

New construction homes are usually built in neighbourhoods with many good local amenities. By purchasing one of these homes, you are usually placing yourself in a prime and attractive location.

The list of pros for new construction homes seems endless. If you are looking for a quick purchase that you can move straight into with little work and hassle-free, this is the perfect type of home for you. 

 

How to find the right new home builder

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Finding the right builder for your new home construction is crucial when creating your dream home. Your home may be the one of the biggest investments you’ll ever make, so finding a new home builder who is experienced in the work you require is vital. If an amateur makes mistakes, they can be extremely costly and time-consuming, so it’s important to get it right from the start. 

We’ve put together our top tips to finding the right new home builder for you. Renovating and building is often a large job, but it can run smoothly and professionally if you find the right builder

Clearly define your needs 

What style home are you building? What is your budget? What size home are you building? You need to ask yourself all of these questions and make a clear brief of exactly what you need and want. Some builders may specialize in certain types of home and use particular materials that you would like to use.  

Create a list of potential builders 

Once you have a clear plan of what you want, you can then begin to create a list of potential builders for your project. Ask around for recommendations, read reviews online and speak to different builders to find out if they are capable of carrying out the project. You can even ask to see examples of builders work to get an idea of what they have worked on in the past. 

Gather quotes 

Find out different quotes from different builders and what they include. It’s best to receive a detailed breakdown before you begin any work, so you can budget and not be stuck with unexpected costs once the build has started. 

Question your builder 

When you have found a suitable builder who meets your needs, you then need to ask them questions to ensure they are the right builder for you. Take a look at our post listing some of the important questions you should ask a custom home builder. 

Why purchase a home at Miraval Mesa Verde? It starts with our modern home plans.

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Here at Miraval Mesa Verde, we create award winning and successful communities for those who want to live a modern coastal California lifestyle in an exceptionally designed home. Our luxury home plans give a nod to some of the best design influences in coastal southern California, and we are confident that our exclusive designs will be well loved. 

You may be wondering why you should buy a home at Miraval Mesa Verde and what our modern home plans can offer you and your family. We’re sharing reasons why considering a Miraval home could change your home life for the better! 

Signature Kitchens 

The heart of the home, the kitchen is a place for cooking, entertaining and enjoying family life. Our signature kitchens are complete with a GE stainless steel appliance package, a walk-in pantry, granite countertops, contemporary interiors and many more luxurious features. 

Modern Interiors 

We design every Miraval home with unique and modern interiors perfect for everyday living. Throughout the home, ceilings are high and features such as a floating steel staircase and stylish slab ceramic flooring showcase contemporary-living at its finest. 

Timeless Qualities 

Each Miraval property has distinct modern architectural details, offering character, sophistication and style. Spacious rooms are ideal for entertaining and relaxing, while the ‘California Room’ has been created to open completely to provide the ultimate indoor/outdoor lifestyle. 

Contemporary Amenities 

Technology is a crucial part of modern life, so each Miraval home is fully equipped for all of your tech needs. USB outlets throughout the home, numerous cable TV outlets and prewired rooms for wall mounted TVs. 

Luxurious Master Suites 

The master suite is your retreat at the end of each day to relax and unwind. At Miraval, you will have a spacious master bedroom, seating area, spa-inspired bathroom, stylish interiors and more.  

Eco-friendly  

A Miraval home is built for now and the future with the environment in mind. Water saving plumbing fixtures, energy efficient lighting, highly efficient systems throughout and low VOC paints and finishes all make a difference towards living in a ‘greener’ home. 

We could go on all day about why you should purchase a Miraval home as the list is endless, however, if you would like to discuss the benefits with us further or find out if a Miraval home could be right for you –get in touch!

 

Interior design tips for mid-century modern homes

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“Mid-century modern” was an architecture, interior and industrial design movement that was in place in the States around the middle of the 20thcentury. Sleek and timeless, mid-century modern is quite rightly considered a classic look, to the extent that it is still emulated and referenced in new homes built today. In fact, many contemporary housebuilders are influenced by the mid-century modern style and it is becoming increasingly common to find mid-century modern homes for sale. In this blog we’ll be giving a few interior design tips to complement mid-century modern homes.

You may want to go full-on mid-century modern with every piece of furniture, lamp and ornament in the room, but in fact one of the advantages of the style is that the simple and organic shapes blend in very well with pieces from other styles or periods; mid-century modern rarely clashes with other pieces.  

You can be as conservative or bold with color as you choose – the mid-century modern style encapsulated colors from across the spectrum, and varied throughout the period. Bright reds and other colors were popular in the Fifties, but by the Sixties more muted, earthy colors and pastels became more popular. Choose the palette that best suits your tastes. It often makes sense to stick to a more limited range of colors in any one room, but at the same time the simplicity of mid-century modern lends itself to a little more boldness, for example a room mostly done out in pastel colors but with a bright pop of color – a bright red lamp, say – in one corner.

Another benefit of mid-century modern spaces – again, due to the simplicity of the designs – is that they lend themselves to accessorizing. Obviously you will want to avoid clutter – there’s no point in choosing a mid-century modern style home then cluttering it up with unnecessary stuff! That said, classy accessories such as plants, floor pillows, rocks or stylish candlestick holders can successfully accessorize this type of home design.

A final tip for mid-century modern style interior design is to incorporate furniture of varying heights. For example, you can opt to have a low sofa and a low coffee table, but counter this by incorporating a tall credenza and an arc lamp to provide contrast and complete the space.

Here at Miraval at Mesa Verde we pride ourselves on having designed and built contemporary homes influenced by mid-century modern designs, particularly those found in Santa Barbara and coastal Southern California. Our innovative but timeless home designs have won a prestigious National Association of Homebuilders Gold Award for Best Architectural Design in its class Nationwide for 2017, as well as an award for Best Architectural Design of a Detached Home priced $1.25 Million to $2 Million at the 2016 SoCal Awards.

Our mid-century modern homes for sale at Miraval at Mesa Verde represent our passion for creating high-quality homes that are the pinnacle of architectural and design excellence. Contact us todayto discuss the opportunity to own a beautiful luxury home on phase two of our Miraval development at Mesa Verde.

Questions to ask a custom home builder

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Once you have selected a custom home builder, there are some questions you should ask to ensure they are the right builder for the job. When you have luxury home plans made, you want to ensure everything runs as smoothly as possible and your custom builder is trustworthy and capable. 

There are a number of questions you can ask your custom home builder so you feel confident and certain about the work they are going to complete. Here are some questions we recommend you ask: 

Can I have a detailed quote? 

The last thing you want is to be surprised with unexpected costs. Ask your custom home builder for a detailed breakdown so you can keep a track of costs and budget throughout your project. 

What is included and what’s not? 

This question ties in with your detailed quote. You need to establish what is included in the quote throughout the work and what extras are not. 

What insurance do you have? 

Reputable builders should have insurance to cover you if anything goes wrong during the work. They should be able to provide proof and details of their policy so you can be confident you are protected if the worse was to happen. 

Are you a member of a trade association? 

Find out if your builder is a member of a trade association and call the association to double check. This will give you peace of mind that your builder works in the correct conditions and to certain standards. 

Can I have a contract? 

A verbal contract before starting building work is not ideal. A signed contract can set out terms and conditions as well as quotes and responsibilities. Contracts protect not only you but the builder too. 

Do you use contractors? 

Find out if your builder uses other contractors and how often a site manager will visit your project to ensure everything is running smoothly. 

These are some questions you may want to ask your custom home builder alongside anything else about how they work, schedules, materials etc. It’s important to feel comfortable with your builder, so you can approach them at any time with questions, queries or concerns. 

 

Buying a new home – how to spot a real estate bubble

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When it comes to buying a new home, there are many factors that will influence when you buy, the type of property, and the location in which you choose to purchase. One factor which people don’t always consider when buying a new home, however, is whether there is a real estate bubble in place. A bubble is when property prices are artificially inflated for any of a number of reasons, and this carries the risk that when conditions change the value of properties can fall rapidly, potentially resulting in negative equity and, in extreme cases, foreclosures. Property bubbles can be national in nature – caused by broader economic conditions – but they can also be localized. Here are some of the warning signs that the real estate market may be entering a bubble or prone to a crash.

1.     Look out for shaky loans– Loose lending practices in the past have included interest-only loans and adjustable-rate mortgages which borrowers may not be able to afford if interest rates go up. These and other forms of so-called subprime lending were prime factors behind the 2008 housing crash and subsequent global financial crisis. While lenders have almost universally tightened up lending practices in the years since, it still pays to keep an eye on a rise in more “creative” lending products and practices as a sign of a pending bubble.

2.     Decreasing down payments– Simply put, the more money you put down as a percentage of the purchase price when buying a new home, the smaller the risk to the mortgage lender in the event that either housing values crash or the borrower can’t keep up with the repayments. Conversely, smaller deposits equal higher risk. If the real estate market shifts to homebuyers putting down smaller down payments, it could be a sign of an approaching bubble.

3.     Cost of living outstripping salaries – Real estate bubbles can occur when living expenses start rising faster than salaries. Where runaway price inflation outstrips wage growth, there is the potential for a real estate bubble and subsequent crash. This can be particularly evident in fast-growing cities.

4.     Flipping and real estate investment– At times and in locations where a lot of people are buying property to renovate and flip, or are purchasing a new home for saleto lease out rather than live in, that can have a big effect on driving up house prices and creating a real estate bubble. Once again, widespread house flipping and investment purchases were the norm in the years leading up to the 2008 property crash.

5.     Rising interest rates – Lower interest rates make mortgages more affordable for would-be homebuyers, and help keep real estate market demand high. Rising interest rates, on the other hand, cause housing demand to fall, sinking the housing market and potentially signaling the end of a property market boom.

While most experts agree that we aren’t currently in too much danger of a national property bubble – interest rates are still relatively low and tighter lending practices in the past few years have acted as a brake to higher-risk lending – it’s still worth keeping an eye out for the factors outlined above before making a decision to buy a new home for sale.

Mortgage basics – how to qualify for a new home

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Buying a new home for the first time can be a fantastic adventure and the start of an exciting new chapter in your life – but it can also be quiet a daunting prospect. Dealing with realtors and attorneys can be intimidating if you’ve never done it before, not to mention the question of whether you will even qualify for a new home. The truth is that the process of getting a mortgage and buying a home can be quite straightforward, but it can pay to do your homework in advance.

The first stage in getting a mortgage is to review your credit report. Your credit score is one of the main factors in determining whether you qualify for a new home, in terms of both whether you will be able to get a mortgage and how much you will actually be able to borrow. A high credit score, for example over 700, will make lenders see you as a lower-risk borrower, and this can open up both the number of lenders and the number of mortgage deals available to you. A lower credit score might not stop you getting a mortgage, but it may limit the lenders and deals that you will be able to choose from.

There are three major credit reporting companies in the States: Equifax, Transunion and Experian. As well as providing a credit score, your credit report will include details of any current and past debts and credit commitments. It’s important to check your credit report for any errors or disputed debts. Errors can affect your credit score, but the good news is that you can write to the credit reporting company or the business that reported the debt to have the error corrected.

Part of the process of applying for a mortgage involves the lender assessing your income to ensure you can afford the mortgage amount you’ve applied for. Typically they will want to see your two most recent paycheck stubs and your past two years’ worth of income tax returns, as well as your past two months’ bank account statements. You will also be asked for documentation for any other form of declared income, such as commissions, investments or alimony payments.

There is a lot of choice in the mortgage market, and it’s a good idea to do a bit of research to decide what your best options are. Will you opt for a fixed interest rate or variable? How many years do you want to take the mortgage over? There are also more specialized types of mortgages aimed at specific profiles of customer. For example, armed forces veterans may qualify for a VA loan, a mortgage with no down payment and typically a lower interest rate than many standard mortgages. If you are on a lower income or have a less than perfect credit score, then you may qualify for an FHA insured loan to help you qualify for a new home.

When it comes to looking for a mortgage, you can either approach lenders directly, or use a mortgage broker who has access to multiple lenders and deals. If you are buying a newly built property, you should be aware that most homebuilders have preferred lenders. Once you have chosen a lender, you can apply to be pre-approved for a mortgage. Once you have your pre-approval letter, this can be submitted with your purchase and sale offer, demonstrating to the seller that you have the financial backing to buy the property.

And that’s pretty much it! If you’re looking for new homes for sale and perhaps wondering whether you will even qualify for a new home, don’t panic. Take your time to do your homework and to make the choices that will be best for you in the long run, and you’ll be well on the path to new home ownership.