Evans Coghill Blog

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Why Buy Now? It’s A New Year – And Interest Rates Will Be Going Up!

Categories: Financing, Homeownership | Posted: January 6, 2017 | Comments Off on Why Buy Now? It’s A New Year – And Interest Rates Will Be Going Up!

Have you been dreaming of owning a new home? Evans Coghill Homes would love to help you through the process! And what better time than the new year?

Now is a great time to go ahead and make that dream come true. It’s a new year – and the perfect opportunity for a new start. It’s also a good time because interest rates are going up, and that will influence both how much home you can afford, as well as how much you’ll pay over the span of the loan.

Over time, as the Fed raises rates more, mortgage rates are expected to move up too. According to CNN Money, the typical fixed rate on a 30-year mortgage is currently around 4.1%. Before the election, a typical 30-year fixed rate mortgage was 3.5%, according to Freddie Mac.

While rates are rising quickly, they are still low. For example, during the last economic expansion, mortgage rates were between 5% and 7%. In the 1990s, rates were even higher, shifting between 7% and 9%.

Don’t make the mistake of thinking that a one or two percent increase won’t affect your bottom line too much. You can save thousands of dollars a year by buying a new Evans Coghill home BEFORE rates rise, even more so than they have already.

Below you will find a list of our preferred mortgage lenders for 2017:       

Whitney Crowder

BB&T

WCrowder@BBandT.com

Office (704) 264-0252

Cell (704) 517-7662

Ashleigh Clark

Cunningham Mortgage

ashleighc@cunninghammortgage.com

(704) 307-9908

www.cunninghammortgage.com

Lori Couick

Bank of North Carolina

lcouick@bankofnc.com

Office (980) 359-1168

Cell (704) 491-2935

Be a smart buyer! Lock in a lower interest rate by buying your new Evans Coghill home in 2017!

We were named Builder of the Year in 2016. Our homeowners have continued to give us positive reviews and survey results. Read more about what they have to say here.  Evans Coghill Homes builds new homes in RiverwalkSpringfield, Cotswold, Cheval and Southpark.

Selecting The RIGHT Home Builder

Categories: Buying a Home, Homeownership, New Homes in Charlotte | Posted: January 3, 2017 | Comments Off on Selecting The RIGHT Home Builder

At Evans Coghill Homes, we understand that choosing the right builder for your new home is one of the most important decisions you’ll make in the home buying process. You need to be sure that you’ve found a quality builder who knows exactly what you want and is a perfect match for building your dream home. Take a look at this article from New Home Source featuring ten steps for selecting your builder in detail, for whichever part of the process you may currently be in. With these ten steps, you’ll be on your way to building a new home with Evans Coghill Homes!

 

10 Steps to Select the Right Builder

1. Define your needs. What size, type and price range of home do you need?
2. Experience counts. While every builder was once a new builder, experience matters.
3. Are past buyers satisfied? Ask for – and check – references from past home buyers.
4. Verify the builder is licensed (where required) and adequately insured.
5. Is there a design fit? Does this builder have expertise in the style of home you seek?
6. Warranty and service. How does this builder stack up for each?
7. Resale value. Have past homes from this builder maintained or increased value?
8. Industry involvement. Is the builder a member of the local Home Builder’s Association?
9. Tour model homes or customer homes. There’s absolutely no substitute for this step.
10. Look for signs of quality. In workmanship, materials and practices when you tour these homes.

Here’s a bit more detail on each step above:

Define your needs: While some builders construct a broad range of homes, many builders also specialize in a specific type of home, price range, or style. For example, not many firms build starter homes for first-time buyers and also multi-million dollar homes for affluent custom home buyers. The building materials, trade contractors and even the building process itself can differ greatly by type and price of home. Look for a fit here.

Experience counts: Every home building firm (including the most experienced and well-regarded companies today) once built their first home. And many new home building firms were started by experienced veterans of other builders. Don’t overly discount a new firm – especially if their team includes seasoned pros – but do look for strong experience overall and in the type of home you seek.

Are past home buyers satisfied? Many builders offer customer references and referrals. If not, ask. And in either case, follow up. A few great questions to ask: Would you buy another home from this builder? Or recommend them to close friends or family? And don’t forget to ask for the key reasons why a past home buyer would or would not recommend a builder.

Is the builder licensed and insured? Not every state or area requires builders to be licensed, but make sure that you work with a licensed builder in such areas. Ask about the insurance that the builder and his or her trade contractors carry. Make sure that they and you are covered during the building process.

Is there a design fit? A builder whose entire portfolio consists of contemporary homes may not be the best fit for that highly traditional home you seek – and vice-versa. While many builders have expertise in a variety of design styles and architectural details, in general, look for a builder whose work includes at least some examples of the style of home you want.

Warranty and service: One of the top advantages of new construction is that your home itself and most of the products, systems and components it contains are brand-new and under warranty. The peace of mind that comes with knowing that major repairs or a new roof are likely years away is important. In addition, look for a structural warranty of ten years or longer on the home itself, ideally transferable to a new owner should you sell. Also look for a builder who provides prompt and courteous service under warranty and who takes time to explain the proper maintenance and care that any home needs.

Resale Value: Good reputations follow good builders, among homeowners and Realtors. Look for builders whose homes tend to hold or maintain their value. Granted, the last few years saw some declines in home value, for one of the first times in history due to the market. So this is not an exact science, but where you see a builder’s homes maintain or increase in value, that’s a good sign. Also look for Realtor ads that specifically mention the name of a builder for a home for sale that’s now five or seven years old. That Realtor clearly sees the builder’s brand name as a big plus.

Industry Involvement: Not every good builder chooses to join their local Home Builder Association, so don’t place too much emphasis on this. However, such membership does tend to show that a builder is committed for the long-term to the area. It’s also a sign of commitment to new home community developers, building product suppliers and trade contractors that work in your city or town.

Tour model homes and/or homes this builder built for past buyers: Once you’ve narrowed down a list of prospective builders using the criteria above, this is the most important step. Nothing substitutes for touring a home built by a builder on your short list. It can be a furnished and decorated model home that’s open to the public. Or, it can be a home the builder constructed for a past buyer that you visit by appointment. In either case, pay careful attention to the look, feel and quality of the home.

Look for signs of quality: Look for signs of quality construction and attention to detail when you visit the homes above. Also consider the building products that a builder uses. Are they brands with well-earned reputations for quality? What about the homes under construction you passed on the way to the completed model home? Were there signs of care and attention there, as well?

Last, look for the quality of people who work for the builder: Did the builder’s employees show sincere interest in you and your needs? Did they listen carefully? Did they provide good answers to your questions? Were they courteous, prompt and professional in your interactions with them in the model home, sales center or builder’s office?

We were named Builder of the Year in 2016. Our homeowners have continued to give us positive reviews and survey results. Read more about what they have to say here.  Evans Coghill Homes builds new homes in RiverwalkSpringfield, Cotswold, Cheval and Southpark.

Featured Community of the Month – Sharon Oaks in Southpark

Categories: Communities, Floor plans, New Homes in Charlotte, Sharon Oaks in Southpark | Posted: December 28, 2016 | Comments Off on Featured Community of the Month – Sharon Oaks in Southpark

Evans Coghill is proud to announce that we are building a small enclave of homes in Sharon Oaks, a new home community in the very desirable Southpark neighborhood.

Sharon Oaks is located in Southpark, one of the most sought-after destination neighborhoods in the South. Its crown jewel is the Southpark Shopping Mall, which is home to Macy’s, Nordstrom’s, Neiman Marcus, The Cheesecake Factory, and more. A quick commute to uptown Charlotte and the Charlotte Douglas International Airport, as well as easy access to I-77 and I-85, make Southpark ideal for today’s busy families.

Southpark is home to an array of neighborhood amenities, such as movies, restaurants, nightlife, and more. And Southpark is served by the Charlotte Mecklenburg School District, featuring some of the most desirable schools in Charlotte.

The Bluffton model

The first two homes under construction at Sharon Oaks are The Bluffton and Palmetto Bluff models. The Bluffton is one of our most popular plans, with space for the entire family; 5 bedrooms, 4 bathrooms, and a 2-car garage. The large, open great room/breakfast room/kitchen are at the heart of this great home. With 3,761 square feet of living space, this spacious home includes a Family Activity Center on the upper level, and a guest suite and a covered porch on the main level. It’s priced at $859,000.

The light-filled Palmetto Bluff model has 4 bedrooms, 3.5 bathrooms, and a 2-car garage. The open first floor includes an incredible kitchen/family room/dining room combo, as well as a first floor master. In addition to the bedrooms and laundry room, there is a Family Activity Center on the upper level. The Palmetto Bluff is 3,593 square feet of extraordinary living space, priced at $829,000.

The Palmetto Bluff model

These homes will be ready for move-in by early 2017. For more information about living in a new home built by Evans Coghill Homes in Sharon Oaks, contact Forrest Ranson at 704.488.5101 or franson@evanscoghill.com.

We were named Builder of the Year in 2016. Our homeowners have continued to give us positive reviews and survey results. Read more about what they have to say here.  Evans Coghill Homes builds new homes in RiverwalkSpringfield, Cotswold, Cheval and Southpark.

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