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First-time Homebuyers: A Townhome Could Be the Perfect Fit

January 21, 2019

Have you heard? Interest rates dipped a little on the 30-year, fixed rate mortgage. Forecasters expected 2019 to start with an increase, but…Happy New Year! If you’ve been postponing buying a new home, this is great news. For first-time homebuyers, Cothran Homes suggests you get moving, literally. Still not sure about jumping into owning a home? A townhome could be the perfect fit for you, and we happen to have a good selection of new construction townhomes that are move-in ready right now. Low-maintenance living If you’re new to homeownership, you might be a little concerned about taking on the obligations, like yard maintenance, painting the exterior, cleaning the gutters, and other tasks that you probably haven’t done as a renter. By choosing to live in a townhome community, all of the exterior maintenance is handled for you. Peace of mind with a warranty Better yet, when you buy a new townhome, it’s covered by a warranty. You don’t have to think about the cost of replacing the roof, water heater, or air conditioning system, because they’re brand new and fully covered. The structure is covered. Your appliances are covered. Low down payment loans Are you still trying to save up the down payment so you can buy a new home? With so many mortgage programs available, do some shopping! There are programs, like the VA home loan for veterans, that require no down payment, offer low rates, and require no private mortgage insurance (PMI). Navy Federal Credit Union also offers a zero down payment home loan for members of the military, some civilian employees of the military and the U.S. Department of Defense, and their families. Requiring only 3% down payment, the Conventional 97% Loan is offered by Freddie Mae and Freddie Mac. This program finances 97% of the purchase price and you don’t need a PMI, but you do need a credit score of 620 or higher. FHA home loans require as little as 3.5% down payment if your credit score is at least 580. You can still qualify for the FHA mortgage with a credit score between 500 and 579, but this program requires 10% down payment—which is still considerably lower than a conventional loan! Before you postpone your decision to buy a home, talk to a professional lender to learn about your options. You can also get pre-approved for a loan amount, which gives you confidence when shopping for a home. New townhomes near Greenville Cothran Homes builds communities of single-family homes and townhomes in the beautiful areas just minutes fromGreenville, a thriving area. For as low as $173,700, you could own a brand new townhome, with all the energy efficiency, quality, and extras afforded with today’s quality construction. The Townes at Eastside in Taylors is just minutes from Downtown Greenville. These 1,550-square-foot townhomes feature 3 bedrooms, 2.5 baths, granite countertops, 9-foot ceilings, and a 1-car garage. The community features landscaped yards, sidewalks, and street lights. We currently have 3 new townhomes ready for quick move-in, and priced from $179,590: 28 Harvest Bell Lane34 Harvest Bell Lane, and 36 Harvest Bell Lane.The Townes at Brookwood is a gated townhome community in Simpsonville, also a short drive from Downtown Greenville. Cothran Homes has two floor plans available here, The Dorchester with 2,090 square feet, 3 bedrooms—including a first-floor master suite—2.5 baths, and 2-car garage; and the Lancaster, with 1,550 square feet, 3 bedrooms, 2.5 baths, and a 1-car garage. Right now, we have 4 Lancaster townhomes available, starting at $183,910: 805 Stonebriar Street776 Elmbrook Drive804 Stonebriar Street, and 806 Stonebriar Street. Don’t postpone the value of owning a home. It’s a smart investment and an affordable one right now. Contact Cothran Homes to learn more about our communities and new homes.

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