How to Find Home Builders with Rebates
I was looking to purchase a new home. Nowadays, we look to the government for tax credits, incentive programs, money back deals or part of the closing costs included. I make too much money to get any kind of breaks and not enough to afford a home comfortably without being very frugal. So, I saved. I saved for 20 years.
I went to apply for the First-Time Home buyer tax credit, but guess what, it expired. Can't do that either. Not only that, but if you want to buy a home for investments purposes, this won't work for you either. See CNN's story on that one:
But my point is, there are complications to it. Too many scenarios. Where is the nice "get some money back" without the "if this", "then that", or "else, but if it is the second Tuesday of the month, it is void". Right?
There are new home rebates from the builders offered in almost every state of the USA. But what was the best one for me. You can see a list by cities here: http://bit.ly/f4GLwF
In searching Google, I found many websites that offered this Rebate on new home sales. But, it was offered from a builder not in my area. Or, a website that offered a listing, but I had to use their "agent". Or, I had to pay money to access the list. Basically, none of the options worked for me. I didn't feel comfortable with any of them. By the way, this is a home I am buying, not just a house. I have saved for this and it sure would be nice to get some sort of credit or money back for saving my money and financing very little.
I did find www.NewHomesAmerica.com with a builders list. These builders participate in the rebate program. It offers 1.25 percent on the purchase price of the home. To give you an idea how much that is because I am bad with math, here it is:
- $500,000 -> $6,250
- $400,000 -> $5,000
- $300,000 ->$3,750
What this gentleman did, was create this website where he wrote and continues to write new home builders throughout the United States. Most will sign up and become participating builders. Some may not answer, BUT, when a potential buyer asks the builder through the website, they agree, 98 percent of the time. You have more weight as a buyer sometimes.
The time is right for this. Because overall sales have gone down, builders are more willing to provide rebates. And sometimes, you can get them through the individual builder. That's a lot of work for us home buyers. Finding, hunting and hoping we will find the right builder and no tricks. I don't want to use their agent. So, you cut out the middleman.
Just like any other business, if you deal direct with the builder, you save money. The owner of NewHomesAmerica.com did all the work for us. There is nothing to lose the way I see it. I have registered and in the process of buying my home using this website. A family member did it, that's how I found out, and he got $7,450.00 dollars back within 2 weeks. (we had a holiday, so it may have been faster).
The important thing is, you go to the site, register, and then make an appointment with the builder through the website. When you purchase the home, NewHomesAmerica.com will send a Visa Gift Card worth the 1.25 percent of the home price.
My first question was, can I get it at closing? Maybe pay for part of the house or closing costs. The answer is no. Sorry, but for legal reasons, it can't be done. If you see anyone that says they can, run!!! This website is one of the more successful ones. It was carefully crafted by a successful CEO in semi-retirement. I spoke to David and he explained how he came up with the idea and what can and can't be done.
Be careful of builders themselves. I found this one report. Seems they are not regulated with much scrutiny.
Anyway, a home purchase is a big deal. Even if you are not a new home person and looking for a used home. Well, there are both sides to that argument too. Just like would you rather have a used car or a new car. Same applies. A new home, new appliances, and best of all, no worries for a decade or two unless there is an act of God.
Nothing like the smell of new home. You get to pick the color, the floor type and so on. Very exciting if you have never done it before. That's enough out of me, if you have any questions, feel free to email me at kroscoe777@verizon.net. I will let you know how my new home purchase went. I am sure David would be happy to answer any questions in regard to the NewHomesAmerica.com website and the builder listing.
Oh, and by the way, if you are a new home builder, you might want to participate if you haven't already. Credibility is everything on this internet super highway.
