Own from $2,050/month at the Townes at Pullman Parc
With high interest rates spooking some home buyers and sending home builders into what can sometimes feel like premature retirement due to falling demand, builders are starting to take the matter into their own hands.
If high interest rates, are the problem, there's an easy solution: just bring them down.
Rate buydown programs and other interest rate specials are proliferating in the new-construction market, with builders making concessions to their bottom line to ensure that potential buyers aren't scared away by recent spikes in mortgage rates. They're offering programs to lock in interest rates, spending millions of dollars to buy guaranteed rates or simply offering a couple of years of discounted interest rates with the hope that buyers will be able to refinance at a better number before too long.
"Marry the home and date the rate," the saying goes, said Bob Powley, the vice president of operations for M/I Homes Detroit, whose corporate parent recently sold out of a 5.875 percent interest rate it paid for up front, in order to guarantee the rate for potential buyers.
We have had a great experience building with Robertson Homes. From the beginning, Brooks worked with our budget to make this work for us and was always very responsive to our calls and emails. Since moving in, Jem has been very professional and flexible with our schedule in getting the final touches of our home complete. They have been a great team and all very nice to do business with. Building a home can feel like a long process so for us communication was key and we felt like everyone kept us up to date in the process. We have been in our home for 5 months now and we are very pleased with the quality and would highly recommend Robertson to our family and friends.