Life often presents us with its dilemmas or conundrums, as is the case with a program that is being offered to households who visit our Open House in Soquel today at The Dwellings of Soquel.
We have enjoyed welcoming 10 households to these award-winning modern townhomes, and we are excited to see who will be the next to move into the happy community that is now thriving there.
With 5 remaining available, there are some incentives being offered this weekend, with the developer providing a choice between two different types of support that should help make a nice difference for the homebuyers who get to participate in the limited program:
Anyone who submits their offer by the end of this month will be given the choice between a free solar power system or a permanent rate buydown paid for entirely by the developer.
With the exception of the classic ranch house which has its original gas supply, all systems for the new townhomes were built to exclusively run on electrical power. This means that, with installation of the available 7 or 8-panel solar energy system on a townhome, you can potentially bring your utility bill down to zero. And later on, you can increase your self-sufficiency by adding an EV charger or a system storage battery if you’d like.
As an alternative to the option of going solar, the other option being offered is a permanent rate buydown, which will enable a homebuyer to buy their rate down from 7.45% to 5.5%, and the program is available to anyone able to come up with a 20% down payment.
This means that if you buy the largest remaining model available for $1,250,000 with 20% down, your monthly payment will be reduced from $6,958 to $5,678 per month. That’s a savings of $1,280 per month. Or for a household purchasing the base model for $1,150,000 with 20% down, your loan payment will drop from $6,401 to $5,224, which comes to a savings of $1,177 per month.
Perhaps more importantly, for households teetering on the edge of affordability, it increases their buying power by over $200,000 on the larger model, and by close to $200,000 on the smaller model. So, if your current preapproval had you limiting your search to homes for under $1 Million, this could be your chance to increase your available housing options to be able to afford a place that you may have formerly only dreamed of owning.
For those interested, details about the homes are available at www.thedwellingsofsoquel.com.
Sometimes the quality of our lives is defined by the nature of the decisions we are faced with in the course of planning something big—such as when choosing the next place we will live. As was noted earlier, life often presents us with its conundrums or dilemmas, and in some cases this is a good thing.
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