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Is Now the Right Time to Buy in Viridian?

Has 2020 made you consider an upgrade to a larger home with more room to grow or take the leap into homeownership? With new homesites available now and interest rates currently at historic lows, this may be as good a time as ever! These rates could get you a bigger home with the amenities you've been dreaming of for the same or slightly higher monthly payment. Let’s dig deeper and see a few reasons why buying now in Viridian might just be the right choice for you.

1. New homesites are now available in our newest sections. We’ve been busy this year, and in addition to recently releasing homesites on The Island this summer, we’re releasing a new 168-homesite section in Viridian this quarter, with some builders gearing up to presell soon. Being among the first to buy in a new section grants you the freedom to select the homesite that will meet your desire for location in relation to parks, flexibility in floor plan and outdoor patio space, and orientation. And if you’ve been thinking about Elements, our 55+ community, the initial homesites are selling fast, with builders having sold over 80 homes this year. Be sure to secure your homesite before having to wait for the new section to be developed.
2. Historically low-interest rates can get you more home for less. Low-interest rates make this the perfect time to purchase a new home. Homebuyers have gotten a boost in purchasing power, making it possible to buy more square footage for the same or slightly higher monthly payment. In September, Freddie Mac reported that the average for a 30-year fixed rate reached 2.90 percent. The rate was 3.64 percent a year ago. The 15-year fixed-rate average reached 2.40 percent. It was 3.16 percent a year ago. Have you been dreaming of a new home with an outdoor kitchen, more amenities, more space for your family to grow? Consider not buying your starter home, but your forever home with these attractive interest rates. Talk to your lender today and explore the options available to you.
3. Lumber and labor costs have been increasing to meet the demand for new construction homes. With interest rates being so favorable, the DFW market’s home inventory is very tight with very short time on market, which often leads to higher demand for new construction homes to increase supply to meet demand. Spring sawmill lockdowns have dramatically reduced lumber supply across the nation. At the same time, the surge in home renovation and rebound in home construction have increased the demand for timber. Lumber prices are up 134% and that has added an average $14,000 to the cost of building a new home, according to a NAHB (National Association of Home Builders) calculation provided to Fortune. Skilled labor that builders rely on to construct quality homes is competitive as well, driving up costs steadily over 2020. But lucky you because buying new construction could still be the best choice. There are many benefits to buying new construction over resale. Read our guide to learn more. If you do decide to buy now, you can lock in your costs at 2020 rates and avoid more potential increases in both labor and materials in 2021.
4. The possibilities are endless when you start from square one. When you work with a builder from the beginning, you can select your homesite, pick your floor plan and then work with them to select the finishes, styles, and upgrades that work best for your family and lifestyle today and tomorrow. An oversized shower, a bigger walk-in pantry, an upgraded mudroom, a dreamy laundry room, a flex room that can be your office or classroom today but become a playroom for the kids to relax and practice aerial yoga in the future? Our premier builders offer hundreds of floor plan options ranging from townhomes to single-family and custom homes, with prices from the upper $200s to the millions. With such an extent of options and the number of builders we work with, the possibilities are truly endless. Get in touch now and don’t miss the opportunity to get them to select every detail suited to your style and needs.
5. Be a part of the Viridian life while you wait. Your new home in Viridian gets you 2,000 acres of nature, parks, and wetlands at just 700 feet (or less) from your doorstep to walk, jog, ride, sail and so much more. Room to roam, room to grow, inside and out. While you come to check in on your home finishing construction, bring the family, enjoy the outdoors, and get to know the trails and parks. Meet your neighbors and explore the thousands of acres to roam!

If you’re ready to explore homesite availability, floor plans and home options, fill out the form to start talking to our builders. We’ll put you in touch with the ones that meet your criteria. See you soon in Viridian.