There is a misconception in the homebuying community about the quality and the price of purchasing a new patio home. The thought process is that you may get more, but you will also pay more. This fear is what keeps many hard working Americans in the shabby homes they are in when they could be taking advantage of all time interest rate lows. What is perhaps the saddest part of the situation is that it just isn’t true. At least, it doesn’t have to be. When finding a new patio home for sale to meet your budget, don’t slight your own happiness by staying away from areas that you deem “too rich for your blood.”
While it is certainly recommended to buy what you can afford, do not forget that lower interest rates translate to more house if you lock them in now. Over time, homeowners have been known to pay three times the principle of their home or more just to keep a 30-year mortgage alive and kicking. With many patio homes on the market coming in at a mere $200,000 in principle, you can see how the slashed rates can put more money in the bank account and less paying banker’s salaries through the years.
Factor in the services with which a patio home often comes. Even if you are the type of person who feels like landscaping and handiwork around the house is your responsibility-in other words, if you fashion yourself a Mr. Fix-It with a Green Thumb-keep in mind the time factor, which eats in to any savings that you benefit from as a result. Patio home communities often farm this work out for a minimal homeowner fee paid by everyone in the community.
Worried you can’t pay the load? Don’t be. If a potential resident qualifies to buy a home, then chances are pretty reliable he or she will be able to pay freight on the small fee as well. Try to get the same surfaces included in your homeowner fees separately, and you could very well be paying the equivalent of a second mortgage payment as a result. And even if you don’t, what have you really saved by balancing all that hard work with your 9-to-5 job?
So when comparing the quality of a patio home with the cost, don’t forget that your time is valuable to you. Time doing the things you love. Time spent with the people that you love to do them with. And time spent enjoying the life that you have instead of worrying about things that are best left in the affordable hands of a professional. Finding new homes for sale doesn’t have to be intimidating. It’s up to you to take the chance.
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