Simmons Homes

There’s many reasons why buying a new home is just better….but one of them might be quite appealing to your pocketbook. That’s right, buying a new home saves money! Many people think that buying a new home will automatically mean less spending money in their pockets. Fortunately, this is not the case. In fact, buying a used home will leave you shelling out much more “dough” in the end.

Energy Savings

Due to increased energy efficiency in new homes, especially Energy Star Certified Buidlers such as Simmons Homes, you will find yourself paying much less on your monthly utility bills than you would in a use home. Not only does that leave you with extra money, it’s also better on the environment as well. An added security for your finances, as well as the world we’re leaving for your children.

Reduced Maintenance Cost

If you have ever watched any television show on HGTV, you know that buying and remodeling a used home always comes with risk. That’s the thing about a used home, you can only see what you can see. Many times hidden expenses and even dangers (i.e. mold), can be hidden out of sight. Add to this the extra maintenance cost of keeping up and replacing when needed older fixtures and such, and you can end up getting yourself into a money pit quite quickly. With a new home, you know what you are getting from day one. Your home has been built from the ground up with the latest techniques. Nothing “hidden” within the walls, beneath the structure, or on the roof. Reduce cost, and peace of mind.

People often rent, due to the fact they feel they are not ready for the added responsibilities of buying a home. Whether this be the maintenance/maintenance cost, insurance, or even the initial down payment; this may be true in some cases. Buying a home is a long-term investment and should not be taken lightly. There are necessary steps you should take before buying a home, to gauge your readiness. Once you  have determined you are ready to buy a home, you will find there are many benefits that accompany home ownership.

It is Cheaper to Buy than to Rent

In a study by Forbes magazine, it was found that buying is now 45% cheaper than renting in the 100 largest U.S. metros. That leaves you with an average savings of $771 a month!

Make the house fit you

When you buy a home, particularly a brand new home, you are able to make the house fit you rather you fitting the house. You can choose the floor plan, color schemes, and details of your home that fit your families taste and needs. You can also feel comfortable that you will be able to do any updates and remodeling in the future, without first seeking the permission of the landlord or property owner.

Tax Advantages

There are tax advantages to purchasing a home. Interest paid on a owner-occupied home is tax deductible. You may also be eligible for other tax deductions based on different environmental features of your home, etc. It is important to discuss this with your tax specialist to ensure you receive all of the savings allotted to you through the purchase of your new home.

All in all, buying is better than renting because at the end of the day….it’s yours. You have made an investment in something that is your very own. The feeling of ownership is incomparable.

The reasons why people move vary greatly. It may be to relocate due to a new job, or simply to find a floor plan that better fits their family needs. People move due to additions to their families, and new marriages. According to the U.S. Census, however, the reason people moved the most in 2012, was simply for a New/Better home. See the list below for a break down of why people moved in 2012.

Housing Reasons

-New/Better Home 15.9%

-Other 14.4%

-Cheaper Housing 8.9%

-Wanted own home 4.7%

-Better neighborhood 3.4%

-Evicted or foreclosed 2.2%

Family Reasons

-Other 12.3%

-Start own household 10.7%

-Marital status changed 6.3%

Job Reasons

-New job 9.5%

-Easier commute 5.5%

-Other 2.1%

-Looking for work 1.8%

-Retired .5%

We expect that trends for moving in 2012 will greatly match those of 2012. Luckily, here at Simmons, it’s a GREAT time to purchase a new home. If you are still on the fence on whether or not to upgrade your home to a new, custom built home, give us a call and we can answer all of your questions and fill you in on the benefits to building new!

There’s an old belief that buying a new home is expensive, stressful, and there are many “hidden components” that pop out at random times during the process. Simmons Homes would like to give you the truth behind these myths, with the inside scope on building a new home. We must, however, add a disclaimer. We speak only of the home buying process with Simmons Homes. The process can vary between home builders and we can not vouch that the same methods used by Simmons, to provided a smooth and stress-free home buying experience, are used by other home builders.

Myth 1: Building a custom home is very expensive

Whether you’re a first time homeowner, or seasoned veteran, Simmons ensures that you remain included and informed in each and every step of the home buying process. This includes knowing what prices are from the beginning, as well as your options throughout every phase of the process. This makes budgeting for your new home.

Myth 2: Building a custom home takes a lot of time

This is not true! In addition to having very reasonable times for building new homes for scratch (in most cases 6-8 months), we also have homes that are move-in ready. Building a custom home saves a lot of time (and gas) vs. buying used. Not only are you not spending time driving around looking for homes, and waiting for an inspection to find out what’s going on beneath the visible aspects, you also aren’t spending the time it takes to remodel a home from scratch. Quite the opposite, in fact. Your custom home is just how you want it, right from the get go and always build “move-in ready”.

Myth 3: Building a new home is a hassle, and takes a lot of work

While this myth may be true with some builders, it is not the case with Simmons Homes. In fact, Simmons allows you to be as involved with the process as you wish to be. We guide you along the process, and encourage you to choose the details that suit your families needs. From there, we handle obtaining the permits, inspections, and behind the scenes work it takes to take your new home from a lot, to a place your family can call home for the rest of your lives.

If you are looking for a home in Broken Arrow,OK  Simmons has you covered!! One of the notable communities Simmons has in this area is Oxford Court, a part of the Simmon’s Modern Classic Homes Collection. These are homes that we have created, based on direct feedback from our customers. They include sleek textures and finishes that express the character and living style of the people that live within them.

Simmon’s Modern Classic Homes are a wonderfully unique combination of traditional and contemporary styles. A few of these distinguishing features include rustic hued floors combined with modern glass and accents. These home promote a traditional family feel, with all of the amenities and perks of a brand new modern home.

Aside from just the beautiful homes themselves, Oxford Court offers residents a beautiful community with several amenities including a swimming pool, and neighborhood play area. In the heart of Tulsa County, it also provides quick access to premier restaurants and local shopping.  If you have never toured one of these homes, you should stop by and view one today! Oxford Courts has homes under construction NOW available as early as March 2013.

Lauren and Daniel Rew are self-proclaimed “big lookers”. They spent 6-7 months looking for a home, searching amongst used homes. The Rew’s soon found that used homes would not provide them with the exact details and amenities they craved for their new dwelling. They assumed building a home would be out of their price range…until they came across Simmons Homes that is.  Building a home with Simmons not only proved to be financially obtainable, but allowed them to choose the details that they wanted for their new home.

Lauren and Daniel describe they process of building as “extremely comfortable” and “a very pleasant experience from the very beginning”. They weren’t the only ones excited about their new home! Their 4-year-old son found it easy to transition, due to the help of a Simmons site manager. The site manager made a point to include their son in the visits, as their home was being constructed. Before the home’s construction was complete, their son had already become acclimated with where his new room would be, the bathroom, kitchen, playroom, etc.

“I feel like {the line of communication between the buyer and the builder} was always open, my questions were always answered in a timely fashion, and I was never left hung out to try with anything. I appreciated that”. Lauren Rew

At Simmons, we make a point of making your home buying experience easy and stress-free. One of the tools we use to accomplish this, is by keeping you armed with all information upfront. We want to ensure that you understand, and feel comfortable with, each and every step of the process. When beginning to search for homes, it is important to understand the associated terminology. Below is glossary of some of the most commonly used terms in the home buying and homebuilding world:

Adjustable Rate Mortgage (ARM). A loan whose interest rate is adjusted according to movements in the financial market.

Amortization. A payment plan by which a borrower reduces a debt gradually through monthly payments of principal and interest.

Annual Percentage Rate (APR). The annual cost off credit over the life of a loan, including interest, service charges, points, loan fees, mortgage insurance, and other items.

Appraisal. An evaluation to determine what a piece of property would sell for in the marketplace.

Appreciation. The increase in the value of a property.

Assessment. A tax levied on a property or a value placed on the worth of property by a taxing authority.

Binder. A receipt for a deposit paid to secure the right to purchase a home at terms agreed upon by the buyer and seller.

Cap. A limit to the amount an interest rate or a monthly payment can increase for an adjustable rate loan either during an adjustment period or over the life of the loan.

Certificate of Occupancy. A document from an official agency stating that the property meets the requirements of local codes, ordinances, and regulations.

Closing. A meeting to sign documents which transfer property from a seller to a buyer. (Also called settlement)

Closing Costs. Charges paid at settlement for obtaining a mortgage loan and transferring real estate title.

Conditions, Covenants, and Restrictions (CC and Rs). The standards that define how a property may be used and the protections the developer has made for the benefit of all owners in a subdivision.

Conventional Loan. A mortgage loan not insured by a government agency (such as FHA or VA).

Credit Rating. A report ordered by a lender from a credit bureau to determine if the borrower is a good credit risk.

Density. The number of homes built on a particular acre of land. Allowable densities are usually determined by local jurisdictions.

Downpayment. The difference between the sales price and the mortgage amount on a home. The downpayment is usually paid at closing.

Earnest Money. A sum paid to the seller to show that a potential purchaser is serious about buying.

Easement. Right-of-way granted to a person or company authorizing access to the owner’s land; for example, a utility company may be grated an easement to install pipes or wires. An owner may voluntarily grant an easement, or in some cases, be compelled to grant one by a local jurisdiction.

Equity. The difference between the value of a home and what is owed on it.

Escrow. The handling of funds or documents by a third party on behalf of the buyer and/or seller.

Federal Housing Administration (FHA). A federal agency which insures mortgages that have lower downpayment requirements than conventional loans.

Fixed Rate Mortgage. A mortgage whose interest rate remains constant over the life of the loan. The payments are not necessarily level. (See Graduated Payment Mortgage and Growing Equity Mortgage).

Fixed Schedule Mortgage. A mortgage whose payment schedule for the life of the loan is established at closing. The payments and interest rate are not necessarily level.

Hazard Insurance. Protection against damage caused by fire, windstorm, or other common hazards. Many lenders require borrowers to carry it in an amount at least equal to the mortgage.

Index. The interest rate or adjustment standard which determines the changes in monthly payments for an adjustable rate loan.

Infrastructure. The public facilities and services needed to support residential development, including highways, bridges, schools, and sewer and water systems

Interest. The cost paid to a lender for the use of borrowed money.

Mortgage Commitment. A formal written communication by a lender, agreeing to make a mortgage loan on a specific property, specifying the loan amount, length of time and conditions.

Mortgage Company (Mortgage Banker). A company that borrows money from a bank, lends it to consumers who want to buy homes, then sells the loans to investors.

Mortgagee. The lender who makes a mortgage loan.

Mortgage Loan. A contract in which the borrower’s property is pledged a s collateral and which can be repaid in installments over a long period. The mortgagor (buyer) promises to repay principal and interest, to keep the home insured, to pay all taxes, and to keep the property in good condition.

Mortgage Origination Fee. A charge by a lender for the work involved in preparing and servicing a mortgage application (usually 1 percent of the loan amount).

Note. A formal document showing the existence of a debt and stating the terms of repayment.

PITI. Principal, interest, taxes, and insurance (the 4 major components of monthly housing payments).

Point. A charge of 1 percent of the mortgage amount. Points are a one-time charge assessed by the lender at closing to increase the interest yield on a mortgage loan.

Principal. The amount borrowed in a loan, excluding interest and other charges.

Recording Fee. A charge for recording the transfer of a property, paid to a city, county, or other appropriate branch of government.

R-Value. The resistance of insulation material (including windows) to heat passing through it. The higher the number, the greater the insulating value.

Sales Contract. A contract between a buyer and seller which should explain, in detail, exactly what the purchase includes, what guarantees there are, when the buyer can move in, what the closing costs are, and what recourse the parties have if the contract is not fulfilled or if the buyer cannot get a mortgage commitment at the agreed-upon terms.

Settlement. (See Closing).

Shared Appreciation Mortgage. A loan in which partners agree to share specified portions of the downpayment, monthly payment, and appreciation.

Title. Evidence (usually in the form of a certificate or deed) of a person’s legal right to ownership of a property.

Walk-Through. A final inspection of a home before settlement to search for problems that need to be corrected before ownership changes hands.

Warranty. A promise, either written or implied, that the material and workmanship of a product is defect-free or will meet a specified level of performance over a specified period of time. Written warranties on new homes are either backed by insurance companies or by the builders themselves.

What’s important to you, when it comes to building  a new home? Is it having fun during the process? Is it feeling like you are heard, and important? These are all thinks Shelly Lenzmeir describes feeling when building her new home in Owassa with Simmons Homes.  After seeing how difficult of a time her Sister had building her new home with another company, and having many stressful experiences of her home remodeling homes in the past, Shelly appreciated the ease of building her home with Simmons. She was able to have a smooth process building her home, while still feeling involved in the process, and being able to choose all the details the make her custom home her own.

Find out more about Shelly’s experience with Simmon’s Homes here: http://youtu.be/jaZXw46WMG8

As a first time homebuyer, it is important that you are comfortable with the homebuilder you choose. While your homebuilder works with several clients per year, you deserve to feel as if you are the main priority, at all times. At Simmons, we understand this. We take time with each customer, communicating on his or her needs the entire process.

Chester Levine, a first time homeowner, speaks about his experience buying a home at Maple Glen. Chester describes the process as “easy and not painful at all”. He speaks about the convenience  he felt  working with  Simmons Homes. Chester says that there was not a time in the process where he felt uncomfortable at all. He felt up to speed with everything processed and the way it was handled. This is the experience we create for each and every customer.

Watch the video below, and see how Chester describes the incomparable feeling of owing his own home. His favorite part of building his home was the excitement that came with watching his new home evolve from the ground up. Chester is now excited to have his friend’s family share in the experience as well. Chester’s friend has recently began building in Maple Glen, and they will soon become neighbors.

For many of us, the end of the year becomes crazy crazy crazy. There are not only things to wrap up at work before the year closes, there’s also the added stress of family dinners and gift exchanges that can leave us frantic and dizzy! Many would believe that choosing this time to make what is likely the MOST important decision of the year would be less than ideal. Here at Simmons, we beg to differ.

In fact, choosing to buy a home at the END of the year can have several considerable advantages.

Tax Savings-

Closing on your new home by December 31^st, gives you the advantage of being able to use your expenses (interest, property taxes, and points on your loan) as a deduction on your income tax return.

Easy Move-

Some might associate the cold winter months, with difficult moves (especially those that live in areas which accumulate snow). For others, however, they see the advantage in moving at a time during the year that isn’t so busy. If you’ve ever had to go through the hassle of making a summer move, you know it can be frustrating. Moving companies often book a month to two months in advance, and on several popular moving dates the prices are astronomically higher than normal. Moving in the winter allows you to have quite an opposite experiences. Instead of rising prices, you’ll find low rates, great specials, and wonderful availability.

A fresh start-

What better way to start off the New Year, than with a fresh start. Your new home will certainly allow you this luxury. New carpets, new paints, new life.  The holidays are great time to have family and friends visit your new home, and a holiday dinner may even double as a house warming party.

Let the memory making begin!