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Celebrating 50 Years of Earth Day!

Did you know that April 22nd marks the 50th Anniversary of Earth Day?  As we adapt to the restrictions of social distancing, one thing we can celebrate is our shrinking carbon footprint. During this newfound journey, we are here to serve our clients today and tomorrow building energy-efficient homes designed to soak in natural light and ventilation. Modular construction maximizes the use of building materials and utilizes waste to energy practices which means far less waste in landfills.  A tighter building envelope combined with the insulation package we include in each home means greater energy efficiency and savings for the homeowner. Our homes are better for the families living in them and for our environment. What are some easy ways to reduce that carbon footprint even more?  Continue to reduce and consolidate trips to the store. Pick up needed items for neighbors and alternate trips to the store with friends. Wash and carry your own reusable shopping bags a

The Daunting Question: Should I Buy Now or Later?

The most prominent question homebuyers are asking remains: "Should I buy a home now or hold off until next year?" Why is this? It's simple. As potential homeowners we not only want to invest in a home with our dream qualities, but we're also looking to ensure we get the best deal. This does not only target the list price of a home or the cost to build. Interest rates play a huge role in the sum of this equation.

For the past ten years, interest rates have been extremely low - it's been a buyers market. It is anticipated, though, that interest rates will moderately increase within the next year. What does this mean for the homebuyer? Higher financing costs and higher monthly mortgage payments. Of course, the general increase in mortgage payments varies by market, but according to Zillow this could range anywhere from a $65-$700+ increase per month.

What if home values remain the same and interest rates are the only variable we see increase? Again, the houses in the most expensive markets will see the biggest increases in monthly mortgage payments. This will translate into lost luxuries due to tighter financial circumstances, which, in turn, will cause households to adapt to a different lifestyle (For more information on the change in monthly mortgage payments with constant home values please visit Zillow's map here).

If we see a rise in monthly mortgage payments, most of it will likely be attributed to an increase in interest rates. Therefore, homes in markets with increasing home values will ultimately feel the biggest impact, while the interest rates for homes in decreasing markets will be offset causing little difference in mortgage payments. Of course, time will be the "say all" when determining what actually happens.  

Interested in exploring your custom home options? Contact Connecticut Valley Homes to find out more information and see how we can help you. Need a little more convincing? Browse some of our portfolios on Facebook and Houzz.


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