The American Dream is Alive in PA
The American Dream is Alive in PA
September 17, 2015
Kay Builders (Kay) has been serving the Lehigh Valley exclusively for nearly 60 years. Kay is the largest residential homebuilder and developer in the Lehigh Valley having constructed over 3500 homes and 30 communities. The company has led the Lehigh Valley in terms of homes settled in each of the last three years. Kay is actively selling six communities and has seen strong interest from out of state buyers over the past two years.
Three Communities. Currently, Kay Builders has three communities that appeal to the first-time buyer: Laurel Field, offering affordable townhomes starting at $215,000 and Trexler Field, featuring innovative twin villas from $258,000 both in Upper Macungie Township (Parkland School District) and Trio Field in Lower Nazareth Township (Nazareth School District) with townhomes starting in the $230’s.
Laurel Field, Trexler Field and Trio Field, have a very competitive price point and are perfect for first-time buyers. New buyers are attracted to these communities for their location, handcrafted quality, superior curb appeal, CUSTOM-i-ZABLE floor plans and upscale finishes.
With Kay Builders CUSTOM-i-ZABLE approach, suggested floor plans are merely a framework to get the building process started. Customers have the freedom to move walls, re-arrange traffic flows, move bathrooms, add or expand rooms, finish basements and put lights and outlets just where they want them. For every customer, the options are limitless. And because of Kay Builders proprietary pricing system and low cost structure, the company is able to provide this benefit at prices that are unmatched in the industry.
Why the Lehigh Valley? The Lehigh Valley offers many benefits to potential homebuyers. First and foremost, it is one of the best locations in the northeast, as it is within commuting distance to most major metropolitan areas and all parts of New Jersey. We have begun to see an influx of buyers from New York State, and all parts of New Jersey. Many have recognized the great values of new construction in the Lehigh Valley and of course, taxes are much lower while the strong public school systems offer a great alternative to more costly private schools. Recreation space and open space is abundant while lot sizes tend to be a bit larger so you have plenty of room for your daily activities. But what some people don’t realize is that the Lehigh Valley is a vibrant and growing area having many activities that appeal to younger buyers and those seeking to start a new family. Many new bars and restaurants, new stadiums for sporting events and concerts, new luxury shopping malls and billions of dollars of new investment in downtown areas of Easton, Allentown and Bethlehem have created a new energy that is hard to find anywhere.
In terms of housing, the current market provides some of the best buying opportunities seen in years. Home prices are stable to increasing, interest rates remain near all-time lows, Kay Builders is still making deals and the local economy is booming. As a result, job opportunities are plentiful.
Rental Rates Rising: If you are currently renting an apartment you may have already been hit with rent escalations as the demand for apartments is outpacing supply. We expect rental rates to increase for the foreseeable future. With interest rates close to 4.0 percent and rental rates for apartments increasing rapidly, the monthly payment differential between renting and buying is again heavily favoring purchase.
It is a shame to see people throwing money away on rent when they can be building equity in a new home by taking advantage of the interest tax deduction, low prices and low rates. Owning a new home also offers more privacy and a feeling of comfort and stability that apartment living just cannot provide. The financial stability of a fixed monthly payment is an added benefit.
Low Down Payment: FHA, VA and USDA programs still allow for very little or no down money with excellent rates. Many of our home buyers have been able to get down payments by money gifted from their parents or relatives or have accessed 401 (k) savings, while Kay Builders will pay as much of the closing costs as the laws allow. With a little discipline, one can also save for the down payment.
Now is the perfect time to consider buying. The deals will not get any better and waiting for your current home price to move up significantly, or if you don’t own a home, for values to fall more, is a losing proposition. So get moving.