Why Buyers Are Still in The Driver’s Seat when Buying a New Home

Homebuyers holding keys to their new home at Little Lane Carson.

Have you been browsing the homes for sale in Carson City, NV, and wondering if it’s a buyer’s or seller’s market? Maybe you are considering moving here from out of state or just want a fresh start within the Nevada area. After all, Nevada is truly a state that can forever be explored with its enormous variety of climates and terrains. Now is the perfect time to buy.

Here are a couple of resources that help turn new home shoppers into new homeowners.

Consider Your Mortgage Options

Choosing an ARM

An adjustable-rate mortgage allows homebuyers to move into a home at a lower interest rate now, as opposed to a fixed-interest rate mortgage. A 5/1 ARM translates to the interest rate staying the same for five years and then adjusting to whatever rate is current at that particular time. The rate could go up and it could go down, but either way, it’s something that the homeowner can plan for accordingly.

2-1 Buy Down

A 2-1 Buy Down is another type of loan that lets homeowners purchase a home at a lower interest rate than the current mortgage rate for the first year. The rate raises in the second year and then is at its final rate for the third and future years. This is an enticing way for buyers to get into the home of their dreams.

As with all financing options, you should consult a mortgage professional for details on your specific situation. Our preferred lenders are always ready and prepared to help.

Keep the State of Your Finances Strong

There are ways to reduce the cost of purchasing a new home and put home buying well within reach. Taking a few steps now to be more in control of your financial situation in the future is a superb way to not be as affected by rising interest rates.

  • Raise Your Credit Score. When you have excellent credit you have a lot of control and freedom to get the best rates possible.
  • Save Up. When you save your money and are prepared to put a large down payment on a house, you will have less to mortgage which will reduce your interest rate.
  • You Can Pay Points. When you offer to pay mortgage points, you can often lower your interest rate. For each point paid, your rate goes down by 1%. Depending on how long you plan to live in the home, this could mean some real cost savings down the road.

Take Advantage of First-Time Homebuyer Programs

If you are a first-time homebuyer, there are a lot of options out there to choose from. There are various state and federal programs available to help make your Carson City, Nevada home even more affordable. There are also loans and grants that may be available to you as a first-time homebuyer.

Whether you are a first-time homebuyer or not, if you are looking for homes for sale in Carson City, Nevada, purchasing one may be easier than you realize. Buyers are indeed still in the driver’s seat when it comes to buying a new home and there are some excellent new homes for sale in Carson City, NV at Little Lane, so you can easily select the home of your dreams.

Little Lane in Carson City, NV

The Little Lane in Carson City by Bates Homes has homes available that meet every lifestyle. These architecturally enhanced homes feature various luxurious options such as a first-floor in-laws-suite, ensuite bathrooms, spacious walk-in closets, a 2-car garage, and extra space to explore your hobbies and passions like a home gym, office space, or even a craft room.

These homes are available with three or four bedrooms, depending on how much size you need, and start at nearly 1,683 up to over 2,541 square feet. The Little Lane Carson community is one built on pride and contentment in personal living space as well as the historical and ever-interesting Carson City area, a region that is steeped in Old West Americana while also host to spectacular scenery, day trips, and exhilarating entertainment for the entire family.