Why Buy New

Renting vs. Buying

If you're like a lot of first-time buyers, your mom and your dad, not to mention your six know-it-all cousins, have already told you that renting vs. buying is a no brainer. Owning a home builds equity, offers tax benefits, eliminates surprise rent increases, gives you control over your décor and yard, and provides a greater sense of stability and community.

But no matter how much you believe them and want to buy your own home, you still have to save for the down payment first. Orleans' Home Club for first time buyers puts saving for your down payment on automatic. It's similar to a holiday savings club. You select your home style and home site, then we set up a savings plan for you. Your deposits are put in an interest-bearing account, the balance grows and grows, and before you know it you're closing and carrying your stuff across the threshold. If you are a first time buyer, ask an Orleans sales representative how you can join the Orleans Home Club.

10 Reason to Buy Now

There's never been a better time to go for it in the housing market. Here's why:

  • It's a "buyers market," which means you can get a good deal
  • Interest rates are low, so your mortgage and payments will cost less
  • You'll save on income taxes when you deduct mortgage interest and real-estate taxes
  • You'll enjoy inflation protection-over the long run housing trends to beat inflation by a couple of percentage points.
  • Your savings account is only earning a tiny bit of interest and you can't afford to own the quantities of stock that really make money
  • Your home will be yours, instead of belonging to some annoying landlord
  • The best homes in the best neighborhoods are usually owner occupied
  • There's a lot of inventory out there right now-so you get a truly exciting selection
  • Reverse buyers' remorse-in five years, you'll be kicking yourself if you don't buy now
  • Rent money is down the drain and is a rising cost. The part of your mortgage payment devoted to the principal builds equity, so it is never considered a rising cost.

New vs. Resale | Warranties & More

Did you know that new homes offer better warranties? Your new home warranty may cover almost everything within one year and offer coverage of up to 10 years on structural components. With a resale home, you're only able to purchase a warranty from a third party.

You'll also be glad to know that, from a historical perspective, the largest appreciation over the life of a new home occurs in the first three to five years. Why? Chances are, the surrounding community, businesses and services are probably in growth mode too. Even better, five years from now, your home and your neighborhood will still look new, so they're as attractive to new buyers as they were to you.

New home buyers also enjoy more information about their new home, because builders provide the features and warranty information on everything in your new home, something you can't be sure of in a resale transaction. Even better, with new technology, new required regulations and new features, new homes are more energy efficient, have more bells and whistles, and are built to be more structurally sound.