Tax Savings & Value
New home ownership brings you great income tax savings each year because you can deduct mortgage interest and property taxes from your income. And these expenses are deductible on federal, state and local tax returns.

The best part about owning a new home is that each monthly payment buys you more and more of that home, while its value continues to increase. That increase in value belongs to you. You can borrow against it or use it to increase your own net worth. No other purchase allows you to earn so much so quickly.

New homes also offer numerous advantages over existing homes. With a new home you are more likely to have:
 
 
• more efficient heating and cooling systems, resulting in lower monthly energy bills 
• central air conditioning
• better insulation 
• better designed kitchens with all-new modern appliances
• warranty protection on the house itself and the appliances and goods within it 
• safety glass in safety-critical areas
• more electrical outlets
 

Quality and Comfort
Most new homes today come with warranties on workmanship, materials and equipment. That means the quality of your new home is assured from top to bottom.

New homes of the 1990s offer buyers unparalleled options and comfort. Today's builders use smart design and the latest kitchen and bath amenities to bring you homes with maximum style and convenience. In addition, houses today are 50 percent more energy efficient than homes built 10 or 20 years ago. Extra insulation and double-glazed windows are just a couple of the features that will save you money in heating and cooling bills. And because everything in the house is new, maintenance costs are low.
 

Your Kind of Home
What kind of home do you want - a single-family home, a condominium, or a cooperative? As you look for a home, consider your current needs and tastes and whether they are likely to change. If you are single, do you anticipate getting married? If you are married, do you plan to have children? If you need flexibility for change, you may prefer a traditional single-family home that you can later expand or remodel. People who have children or who like to garden often prefer a single-family home with a large yard. A condominium or cooperative may better suit your tastes if you prefer to avoid yard maintenance entirely. A condominium is a home in a multi-unit complex such as an apartment building or town house cluster. You own the home, and you and your neighbors jointly own common elements, such as land around the complex, parking areas, building exteriors, hallways and recreational facilities. Cooperatives are similar to condominiums, but rather than owning your own unit, you own a share of stock of the entire complex. Stock owners are jointly liable for the debts of the cooperative.
 

Special Features
If you or a member of your household is wheelchair-bound, has a sight or hearing impairment, or has any other disability, your builder may be able to install special features such as wheelchair ramps, wider doorways, or custom handrails and bars. Ask your builder about other options available to you.
 

An Investment in Your Good Credit
It makes sense to figure out how much you can really afford; you may be surprised at how far your dollars will go when invested wisely. Your builder or agent can help direct you to resources that will help you determine your home buying power, and may even be able to help arrange financing.

When you shop for a mortgage loan, lenders will want to be sure you can make the payments each month. They will examine your credit record, the extent to which you are already in debt, and your employment record.

Current homeowners can usually make the downpayment on a new home with the equity they realize from the sale of their old one. Buyers entering the market for the first time often rely on savings or assistance from relatives to accumulate a downpayment.

Where to Go for a Loan
After you select a suitable home in your price range, you will want to investigate your options to find the best financing. Your builder may be able to help recommend a source or even help arrange financing. Among places to look are savings and loan associations and commercial banks, mortgage bankers, mortgage brokers, credit unions, and housing finance agencies.