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How Much Home Can You Afford?

Categories: Uncategorized | Posted: May 16, 2017

One of the most asked questions associated with house hunting is this one: “How much house can I afford?”  It is important to sit down and figure out exactly how much house you can afford.  At Regency Homebuilders, we have a wide price range that can fit any families budget.  Here is some advice on how you can figure out how much home you can afford!

{Rule of Thumb}

A good benchmark is to spend no more than 36% of your gross monthly income on your total debt, including your mortgage payment and other debt like car payments and credit card payments.  You will need to lower your mortgage payment if you have more debt.

{More than a Mortgage}

Home ownership comes with more than just a mortgage and interest.  Remember that there are other costs that you need to remember:

Property taxes: You will need to make property tax payments. Whether a yearly lump sum is due, or whether you pay monthly with your mortgage payment, this is something to prepare for.

Maintenance and repairs: Without a landlord to bear the cost of maintenance and repairs, you must factor into your budget how much this will cost for you.

Utilities: In many cases, your home is larger than your rental, which means it will cost more to heat it.  Electricity and water costs will also most likely increase, along with sewer and garbage collection.

Insurance: Home insurance is usually more than your rental insurance, so do your research on how much more you will be paying for this expense.

{Test Drive Your Mortgage Payment}

Take the difference between what you pay now and will pay after and save it up for a few months to test your finances.  Can you live comfortably within the new limits?  If not, be honest with yourself and decrease what your mortgage will be.

{Remember Financial Goals}

Remember that you need to save for retirement and family vacations.  If you have other debt payments, make sure that you keep these in mind when you are figuring out how much home you can comfortably afford.


{Use this calculator to help you figure out how much home you can afford!}

https://www.nestiny.com/user/trueaffordability

5 Things Homeowners Need After Move-In

Categories: Uncategorized | Posted: May 12, 2017

You’ve done it! You’ve closed on your new Regency home, you’ve spent time moving in and now it’s the morning after. Well, before you unpack all of your labeled boxes, consider these tips on what you need after you move-in.

1. Window Treatments

We all love good lighting in our home but sometimes privacy takes priority. After moving into your new home, consider which windows you want to add drapes or shades to, if any. Drapes can really bring a room together in design while also providing shade for the room. Shades are pretty conventional and a safe bet for any home and are also “in” no matter the season.

 2. Cleaning Supplies

Cleaning in your new home is a necessity. You may have areas in your new home that you did not once have and that’s going to require more responsibility. Carpet cleaning services may be an advantage that you want to consider. If your home has more hardwood flooring now then you’ll also need additional floor cleaning options for that.

3. Furniture

Choosing a Regency home is, in many cases, an upgrade. Because of that, every room will be spacious and customizable by you. New and appropriate furniture is something that makes your home even more tailored. No you don’t have to have your home fully furnished before you move in but as you grow into your new space, you can always add pieces that speak to your personalty.

4. Extra Home Keys

At some point we all have needed a spare key for something; whether it be our car, our gym locker or a personal lockbox. Making an extra set of keys for your home will be beneficial within the first couple of weeks after moving in. You may be swamped with many other new home responsibilities, but you’ll want to get this done before you get into a situation where you need them!

5. Lighting Accessories

Sometimes lighting is the last thing people think about until they’re trying to read a book in dim light. With that being said, another thing you should do after you move in is get replacement wattage and bulb style for every lighting fixture in your home.

We’re Hiring!!

Categories: Uncategorized | Posted: May 10, 2017

 

Please send all resumes to ashley.donaldson@newregencyhomes.com


Builder & Builder Assistant

Requirements:
• Building Experience preferred but not required
• Organized
• Attention to Detail
• Possess knowledge and confidence to interact with subcontractors and customers on a daily basis

Job Description Summary:
• Manage and monitor home building sites on a daily basis
• Contact, schedule and coordinate all subcontractors and suppliers for the home
• Partner with Accounting/Estimating on tracking costs of the home
• Schedule meetings with customers throughout the building process


Clerical Position

– Filing & Scanning documents
– Answer phone calls
– Skilled in Microsoft Office, Excel, Word, and Outlook
– Detail oriented
– Positive attitude
– Time management
– High School Diploma required, college degree preferred

Design Center Consultant

Desired Skills and Experiences:
• Interest in interior design & basic knowledge of the home
• Strong customer service and organizational skills
• Inviting personality
• Team player
• Excellent written and verbal communication
• Availability to work outside normal business hours on occasion
• Ability to excel in a fast paced, constantly changing environment

Job description:
Help our customers design their dream home!


Parade of Homes

Categories: Uncategorized | Posted: May 9, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Why You Should Buy vs. Rent

Categories: Uncategorized | Posted: May 4, 2017

Many people are often intimidated when it comes to buying a new home.  However, the reality is it can often be less expensive on a monthly basis and a better long term investment in the long run.  Most homeowners agree that their investment in their home is one of the best investments they have made!  See why you should ditch your rental and upgrade to a new Regency home!


 Investment

When paying your rent for the month, you can be giving as much as 40% of your income to your landlord.  Also, paying rent does not add to your wealth.  When paying your monthly mortgage, you are appreciating value by increasing wealth, building your home equity, and getting a tax deduction on your mortgage!

Variable vs. Fixed

Rent can be increased at the end of your lease, leaving you with a higher rent or needing to find a new place to live that fits your budget.  When owning a home, your monthly payments will stay the same throughout your loan.

Customization

Renters are typically not allowed to do any renovations to their home, and there is no personal style put into the selections of your home.  With your new Regency home, you will be able to pick the floor plan that fits you and your family perfectly, along with your cabinets, paint color, hardwood floors, and every other detail you can imagine at your Design Center appointment.  The possibilities are endless with Regency!

Freedom

Owning a home means you don’t have to abide by a landlord’s rules.  There are no restrictions on pets, noise, or remodeling, and you also have a backyard with the option of a fence.  Homeownership gives you a sense of place and belonging, because you feel more invested in your community!

The Bottom Line

Every time you pay your rent, you get to live on someone else’s property for another month.  Every time you make a mortgage payment, you own a little bit more of your home and are building your own equity as opposed to your landlord’s.


Start the search for your dream home at newregencyhomes.com!

Start Fresh, Buy New

Categories: Uncategorized | Posted: April 24, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

There are numerous advantages of newly-built homes, from lower cost of ownership to modern floor plans and design.  Starting Fresh and Buying New will allow you and your family to build a house that is perfect for your lifestyle!


1. Designed for Living: New homes are built to fit your specific lifestyle.

Newly built homes offer twice the bathroom space, three times the closet space, and higher ceilings.  Regency Homebuilders spends time researching the latest trends in the homebuilding industry, making sure that our customers have the latest and greatest designs.  With open floor plans, built-in media options, and the latest technology, Regency will make sure that you have the perfect floor plan for you and your family.

2. Low-Cost Ownership: Spend your time and money the way you want.

Buying a new home means that you have nothing to repair or re-do.  The average monthly upkeep cost for a new home is $25 compared to a used home at $100.  A 10-year old home will cost 580% more in annual maintenance and improvement than a newly built home.  Build your new home with Regency and sit back, relax, and enjoy a home that’s truly yours.

3. Quality Construction: Modern construction means a peace of mind for years to come.

Modern construction means less homeowner headaches, because of advanced materials, new technology, and a one-year warranty.  Replacing things in your home can become expensive.  For example, a new heater costs the same as 7 designer bags, a burst pipe that floods your house costs the same as 1 year of tuition at a state school, and new roof costs the same as 7 luxury cruises for a family of 4.  Your Regency home will be built from the ground up to your specifications with superior materials and expert craftsmanship.

4. Energy Efficient: New built homes are smarter on the environment and your wallet.

From superior insulation to sustainable material, Regency offers energy efficient construction and design.  Newly built homes save 3,449 KWH a year on average, which is enough to power your coffee maker for 32 years and your washer for 4 years.  Your new Regency home will be 30%more efficient than a home built just 10 years ago, which will lower your bills today for immediate savings.

Grand Closeout Event!

Categories: Uncategorized | Posted: April 11, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cotton Plant Grove: 29

Dawkins Farm: 11

Saffron Hills: 9

Stonecrest (TN): 1, 5, 6, 8, 59, 67

Pisgah Forest: 12, 23

Richland Valley: 10, 20

Riverwood Farms: 7, 12, 15, 28, 30, 41, 45; Ph II: 21, 23, 24, 30

Walker Farms: 4, 24, 31

Woodlands of Cordova: 6, 20, 38, 52

 

 

We’re Hiring! {Marketing Assistant/Videographer}

Categories: Uncategorized | Posted: April 8, 2017

Spring Cleaning Tips

Categories: Uncategorized | Posted: April 3, 2017

 

Spring is in the air and you know what that means? Spring cleaning time!  We know how important it is that your new Regency home stays new.  Before you knock out your normal spring cleaning tasks, here are 6 items that you need to add to your list:

1. Refrigerator Coils

When dust and dirt cover the coils of your refrigerator, it has to work harder to cool food, which decreases the appliances life span.  You can find the coil either at the bottom or behind your appliance.  Vacuum them with an upholstery tool, then push a duster or refrigerator coil brush between the coils to grab the rest of the dust.  Here’s more on how to clean refrigerator coils.

2. Shower heads

This is important to remove mineral buildup from stainless-steel shower heads.  Fill a small plastic bag with distilled white vinegar and attach it with a rubber band over the shower head.  Let it soak for about two hours then scrub the residue away with a toothbrush.

3. Inside of Appliances

Dishwasher: Place distilled white vinegar in a shallow bowl on the top rack of your empty dishwasher and run a hot water cycle.

Washer: To kill any mold in your washer, add a cup of bleach to the bleach dispenser and run the empty machine through the longest, hottest cycle available.  Also, scrub any removable parts and open the lid and let air dry.

Dryer: Vacuum the drum and lint screens.  Also, unplug the machine, remove the exhaust hose, and vacuum out the lint.

4. Ensure fire safety

Make sure to change your batteries in your smoke and carbon monoxide detectors.

5. Check your HVAC unit

Make sure you replace your furnace and air-conditioning filters every month.  Most air conditioners have a drainage hole on the base of the cabinet, beneath the evaporator fins. This hole needs to be kept clear in order for the air conditioner to work properly. It’s a good idea each spring to use a paper clip or wire to poke through the hole and clear it

6. Pressure wash

This prevents the growth of mold and mildew and will make your home look brand new!

The Homebuyer’s Glossary

Categories: Uncategorized | Posted: March 29, 2017

AMENITY:  A feature of the home or property that serves as a benefit to the buyer but that is not necessary to its use; may be natural (like location, woods, water) or man-made (like a gate or garden).

APPRAISAL: A document that gives an estimate of a property’s fair market value; an appraisal is generally required by a lender before loan approval to ensure that the mortgage loan amount is not more than the value of the property.

BUDGET:  A detailed record of all income earned and spent during a specific period of time.

CLOSING: This is the time at which the property is formally sold and transferred from the seller to the buyer; it is at this time that the borrower takes on the loan obligation, pays all closing costs, and receives title from the seller.

CLOSING COSTS: Customary costs above and beyond the sale price of the property that must be paid to cover the transfer of ownership at closing; these costs generally vary by location.

DESIGN CENTER: Place to customize & choose all selections of your home; you will be accompanied by one of our Design Consultants during your appointment.

DOWN PAYMENT: The portion of a home’s purchase price that is paid in up front & is not part of the mortgage loan.

EQUITY: An owner’s financial interest in a property; calculated by subtracting the amount still owed on the mortgage loon(s) from the fair market value of the property.

ESCROW ACCOUNT: A separate account into which the lender puts a portion of each monthly mortgage payment; an escrow account provides the funds needed for such expenses as property taxes, homeowners insurance, mortgage insurance, etc.

HOME INSPECTION: An examination of the structure and mechanical systems to determine a home’s safety; makes the potential homebuyer aware of any repairs that may be needed.

LOAN: Money borrowed that is usually repaid with interest. 

MORTGAGE: A lien on the property that secures the Promise to repay a loan.

PRE-APPROVE: Lender commits to lend to a potential borrower; commitment remains as long as the borrower still meets the qualification requirements at the time of purchase.

REAL ESTATE AGENT:  An individual who is licensed to negotiate and arrange real estate sales; works for a real estate broker.