We’re all hearing reports anticipating interest rates will drop. So, what’s better – buying when prices are high or buying when interest rates are high? We say, buy now, and here’s why…

As interest rates increased over the past months, many potential home buyers have held back. So, demand for homes has declined, thereby reducing home prices. Waiting for interest rates to drop could result in more potential home buyers entering the market, which will increase demand and result in higher prices on new homes – especially as Florida continues to attract new residents.

We’re already seeing some drops in interest rates, but Southern Homes will help lower interest rates even more with a 2/1 buydown program, getting your rate as low as 3.25% (5.970% APR) as of 9/13/24. Then, if rates drop more, we’ve got you covered with a rate float down or a refinance with no lender fees!

And unlike interest rates, once you buy a home, you can’t change the purchase price.

Here’s how it works:

1. Southern Homes will pay to lower your interest rate by 2% for the first year of the loan. Your rate will adjust 1% each year until it returns to the original fixed rate after the buydown period.
   
2. Save monthly with reduced initial payments for two years.
   
3. When rates drop, we’ve got you covered with:
   1. A one-time rate float down – if you lock the rate in now, and rates improve by .25  or more before you close, we’ll float you down to that lower rate!
   2. A refinance period of up to 2 years with NO LENDER FEES!

These safety nets, along with Southern Homes’ local buying power, can reassure you that you’re making the most of your investment in a new home.

Southern Homes is the only locally owned production builder in town, and we have been building quality new homes for our community members for more than 30 years. Production builder means we build entire communities of new homes with a variety of existing floor plans and exteriors. We can build your personalized dream home, or we can find one of our quick move-in homes in one of our communities to meet your needs and wishes.

We know that finding a new home within your budget is essential. Over the past three decades, Southern Homes’ dedicated purchasing team has built strong vendor relationships, so our local buying power is unsurpassed. That way, we’re able to guarantee our homebuyers the greatest possible value.

When you support your local home builder, Southern Homes, you’re supporting a team of employees and vendors throughout Polk, Highlands, and Hardee Counties. In turn, Southern Homes is proud to give back to this community we call home. Simply put, when you invest locally, so can we.

“A Neighbor You Can Trust” is not just a tagline for us; it’s a way of life. Southern Homes cares about our neighbors, as seen every day in our attention to detail and authentic concern for every customer. We take great pride in our product and build each new home as if it’s our own.

Give us a call or stop by one of our model centers to meet one of our team members. We’ll be happy to show you around the neighborhood.

Buying a home creates an opportunity to create a strong financial future for your family and a sense of stability. Here are some of the advantages of homeownership that make it so appealing for many people.

There are lots of financial benefits

Most of the benefits you’ll read about the deal with the financial side of homeownership. Buying a home is a significant up-front investment that can pay off in the long run. Here are a few of the financial benefits:

Build equity: the first financial benefit that comes to mind is equity. Equity is the value of an asset, in this case, your home, minus the amount owed. Your home’s equity increases each time you pay your mortgage.

Build wealth: as your home’s value increases, so does your equity, giving you the ability to sell your home for a profit. This extra money can fund the purchase of your next house.  

And tax benefits!

Homeowners can take advantage of several tax benefits (check with a tax professional to verify eligibility). Most notably, the mortgage interest deduction allows homeowners to deduct the interest paid on their mortgage, thus reducing their taxable income. They may also be able to claim property tax deductions.

Predictable monthly expenses

Since you won’t be changing the terms of your mortgage every year, you can rest assured knowing your base housing costs will remain the same. You won’t have to worry about annual rent increases that could potentially price you out of a particular location. This stability will let you make better financial decisions toward your personal financial goals.

Greater privacy

Living in a single-family home means you don’t have to worry about shared walls or floors, allowing you greater peace and privacy. No more having to yell at the neighbors to turn down their music or tiptoe around.

More stability

People tend to stay in place longer when they buy a home. You won’t have to worry about finding a new place to live each year or worry about a constantly rotating group of neighbors.

You’re free to create your dream home

One of the biggest draws of homeownership is the freedom to create the home you’ve always wanted. You don’t have to worry about getting permission from a landlord before painting or making changes to your home, you can change the flooring or other fixtures in your home, get a pet – all the things that make a house your home.

Homeownership continues to be an important milestone. If owning a home is part of your dream, we’re here to help. Southern Homes has been dedicated to our customers for close to 30 years, and we remain committed to providing beautiful, affordable homes. We want to help you build or find your dream home.

Just like with all the other choices you’ll make, there isn’t one right answer. There’s simply what’s right for your situation. Here are a few things to consider when mulling over whether to build new or buy resale.

Cost considerations

There are multiple benefits to investing in something new. A new home is just that: completely new. Your home will be filled with components at the start of their lifecycle, meaning you won’t have to worry about replacing costly elements like appliances, HVAC systems, water heaters, windows or roofs for years. What’s more, most of those components are covered under the builder’s warranty (please check with individual builders for more information). When crunching the numbers to compare, be sure to consider potential improvements you may need to make over the years of owning an existing home.

Schedule considerations

The obvious appeal of purchasing an existing home is the ability to move right in, especially if you’re relocating for a new job or have kids who need to start school soon. Building a new home means it’ll be a few months between signing the contract and receiving the keys to your new home.

If you want to buy a new home but are short on time, we have move-in ready homes in various stages of construction that may work with your timeline.

Modern features

Existing homes were built in a different era with different trends. The layout of the home may not flow the way you’d like. Electrical outlets and closet space may be limited. Perhaps the kitchen is too compact without an option to expand without a pricey remodel. New builds are built to support today’s connected lifestyles with plenty of electrical outlets and design trends like open floorplans, expansive kitchens, large owners’ suites, and even dedicated home offices.

Energy efficient

New construction homes are more energy-efficient than homes built just a few years ago. There’s no comparison when you compare the energy efficiency to homes built over a decade ago! It can be costly to refurbish an existing home to be more energy-efficient.

Location

Location is a key factor when deciding where to live. It has a big impact on your lifestyle, choice of home, quality of life, and even property values. Most new construction homes are built in developing neighborhoods while resale homes are in established neighborhoods. Do you have land you want to build on in an established neighborhood? We can build on your land if it’s located within 10 miles of any of our active communities!

Deciding whether to buy an existing home or build a new one will depend on what’s best for your family’s situation and preferences. We just hope you find the right home for your family. If you decide to build a new home, we hope you’ll consider building with Southern Homes. We build in over 20 communities throughout Polk County.

Visit us online at MySouthernHome.com to learn more about our Polk County new home communities and floorplans. We’re looking forward to building your dream home.

Consider the community

When driving to the model center, take a look at the neighborhood and get a feel for the community. Think about whether it’s in an area you’d like to live, offers the amenities you need most, and research other local highlights. You will definitely want to know how close it is located to schools, interstates, attractions, and more.

Do your homework

Before touring model homes, it’s helpful to review available floor plan options for each home. That way you’re aware of any additional options you may have access to. While the model home you’re viewing may not have the extra bedroom or office you need, it’s good to know if it is an option that can be added.

Ask questions

Our natural tendency is to avoid the sales representative when touring model homes, but don’t be afraid to ask questions during your tour. Our sales representatives are a wealth of information. They’re available to help you learn more about Southern Homes, our communities, floor plans, and options. They can also recommend other floor plans that could meet your needs and lifestyle. In short, you’ll be glad you took the time to ask the important questions!

Take notes and pictures

Most homebuyers tour a lot of homes so keeping track of which house had which feature you liked can be hard to remember. Bring a notepad or keep notes in your phone on your initial thoughts of a home, which options are standard or upgrades, what you liked or didn’t, and any other questions you have. Take pictures of the details you loved. This will help you to compare builders and plans later.

Look past the staging

Model homes are staged to show home buyers how the home can look and make them fall in love. But it’s important to look past the perfectly styled home and picture your belongings in the space. Consider if there’s enough room for your furniture, if the room fits how you live, if the floor plan works for your family, and most importantly if you can actually see yourself in the home.

Touring model homes is one of the best ways to get to know a builder and find the right home for your family. It can be a fun process, but it’s important to do your homework ahead of time to make sure you pick the right builder and home for you.

When you’re ready to find your dream home, Southern Homes is here to help. We welcome you to tour any of our model centers. Our sales representatives are available to answer any questions you have. We have several new home communities throughout Polk County and look forward to helping you find your new home.

If you have land that is located within 10 miles of any of our active communities, we can build your new home. Southern Homes has been building quality new homes of superior design in Polk County for 25 years. We take great pride in our work and deliver each Southern home as if it were our own.

Here’s what you can expect during our building process with Southern Homes:

1. Provided that your financing process stays on track, it typically takes between 90-120 days from your contract signing to start of construction on your new Southern home.
2. Once financing is finalized, you home is released to our construction team. The amount of time to start your home will vary depending on our current building schedule, permitting times, weather, and other extenuating circumstances.
3. A “Build Comm” meeting will be scheduled approximately 2-4 weeks before the start of construction. At this meeting, you’ll meet with your Personal Builder, review and sign your blueprint and elevation, discuss the features of your new home, verify TV and phone outlet locations and provide your Builder with phone numbers for your weekly updates.
4. Following your initial “Build Comm” meeting, your Personal Builder will check in each Friday to provide building updates and answer any construction questions you may have.
5. Our goal is to finish your home in the shortest possible time without compromising quality. While circumstances may arise that causes a delay, we aim to have your home built 90 – 120 days from the date of the footer inspection to your New Home Orientation.
6. Once your home has been completed and achieved the quality standard expected by Southern Homes, your Personal Builder will contact you to schedule your New Home Orientation. At the New Home Orientation, your Personal Builder will review your “Southern Homes Maintenance Manual” and “Customer Service Policies.”
7. You’re almost there! After signing the Affidavit of Completion, it usually takes up to 14 days to close on your new home.
8. Welcome home! We’ll still be here after you receive your keys and toss out the last moving box. Every Southern home comes with a full 10-year structural home warranty, a two-year systems warranty and a one-year workmanship warranty.

Are you ready to build a new Southern home? Check out our available floorplans and contact us to get the process started.

Before you begin shopping for a new home, take some time to sit down and determine what features you need for your next home. Here are a few things to consider as you make your must-have list:

What do you need in your new home that you don’t have now?

Walk around your current home and note the features you need or wish you had that will make life easier in your new home. Maybe you love the entertain but feel isolated from your guests or family because the kitchen is located away from your living areas. Maybe you have younger children and want to be able to keep an eye on them regardless of your location in your home. Or maybe you have too much space and want to downsize. Keep these elements in mind while you’re touring new homes.

What is your family stage? What size home will you need?

Couples looking to start a family (or expand) will want something different from couples who have adult children with their own homes. Do you need room to care for an elderly family member? Think about your family and any accessibility needs to help determine the layout and number of bedrooms and bathrooms you will need. Consider if the floorplan is flexible; while a floorplan may fit now, it may not work in the future as your family grows (or shrinks as children move out). Will you be able to convert current rooms into new functional rooms (e.g. changing a den/office space into a guest bedroom).

What’s your lifestyle?

Do you entertain a lot or have a large family? Do you have an active lifestyle and will need storage space for your equipment or toys? Do you expect to host overnight guests throughout the year? Do you work from home? Your current lifestyle will impact the type of floorplan that works best for your family. If you like to entertain, a home with a traditional plan with separated rooms may not be the best option for you.

Will you need a dedicated space for hobbies?

Now for the fun stuff! After the required rooms are settled, it’s time to think about how your home can support your other interests. If you work from home, you will most likely want a dedicated office/den space. Perhaps you want a craft/activity room for your children or yourself or even a home gym. See if the floorplans you’re considering can accommodate these dedicated spaces.

Taking time to consider the features you need in your new home is a time-consuming but important step to make sure you choose the right floorplan. Southern Homes offers a variety of floorplans for each life stage, from young families to empty-nesters. Visit our website to view our current floorplans today.

Once we are able to get an idea of what your financial situation looks like, we can help decide which lender would be best for you. You can apply online, conference call with a lender and your sales person, or even visit a lender’s office in person. Once you’ve submitted a loan application, the lender will ask for several pieces of information. Some of those items include: 1. Last 2 Years of Tax Returns and W2’s or 1099’s
2. Last 30 Days of Paystubs
3. Last 2 Months of Bank Statements (all pages)
4. Copy of Driver’s License (provided at contract)
5. Copy of Social Security Card
While the lender is working on your application, they will send you a pre-qualification (PQ) so you can work with your New Home Specialist to pick out your lot, floor plan, options, colors, and sign a contract.

Once you’ve signed a contract with Southern Homes, it generally takes 30 days to receive an approval on your loan. This means the lender will be communicating with you requesting additional documentation. It’s important to get the information to your lender quickly. Southern Homes won’t start your home until we know you’ll be approved for financing.

Congratulations your loan is approved! What do I expect next? Until you’ve signed closing papers and have keys to your beautiful new home, it’s important your credit, income, and debts don’t change. This means you should not put your new furniture on a credit card, purchase a car, change jobs, etc., before speaking with your lender. If you’re not sure, call your lender; they will give you guidance on the “do’s” and “don’ts.”