Now If you’ve been looking for a great new construction house here in Chicago and maybe you’re starting to feeling like the market’s got away from you,

you’re going to want to listen to this, beacause I’m going to tell you how you can save a lot of money on a new construction home and you may qualify for a mortgage as low as 5 1/8 to 5 1/2%!

Now my new Book Don’t Buy a New House! BUILD IT Tells you why you should build your new house rather than buying one.

This is especially true now because there are so few new construction houses available and with the current economic crunch, supply is likely be even lower for the foreseeable future.

To me, the biggest thing is that you’ll be putting most of the builder’s profits in your pocket.

When a builder sells you a new house here in Chicago, they pay about 7% in closing costs right off the top. So for example, on a new $1.4M house, that’s almost $100,000 off the top.

Combine that 7% with a bit lower profit for the builder and you can easily be starting out with maybe 15% additional equity from the day you move in, Which is awesome, right?

Right now we have a great new home site available in East Bowmanville, which is a cool little enclave in the Northern part of Lincoln Square just west of Andersonville.

We have a few great plans you choose from.

But here’s the thing I really wanted to share today local lender Wintrust is now offering an incredible mortgage program designed to help make your project simple and affordable.

It’s called a Construction-to-Permanent loan and it allows you to lock in your mortgage rate up front and then your builder draws the funds for construction as the house goes up.

When the house is finished, you move in and your mortgage is already in place! no closing, no closing costs.

But check it out! Today’s (10/18) rates for a construction to permanent loan start at:

Only 5 1/8 % for a 5 year ARM and only 5 1/2% for a 10 year ARM.

Of course this is a borrower needs to qualify for these rates which depends on your credit and financials.

And I want to be clear, I am not a mortgage broker, nor am I affiliated with Wintrust in any way, but this is an incredible program! 

If this sounds attractive to you, just DM or contact me for more info.

Roger@LD2development.com

312.380.9650

And to learn more about the whole process, make sure you grab a copy of my book on Amazon from the link below:

✅ Get New Book on Amazon:

Don’t Buy a New House! BUILD IT

https://www.amazon.com/gp/product/B09PRTVBMH

__________________________________

✅ Let’s connect:

YouTube: https://bit.ly/LD2YouTube

Linkedin: https://www.linkedin.com/company/ld2-development/

Facebook: https://www.facebook.com/LD2Development/

Instagram: https://www.instagram.com/ld2development/

✅ Amazon Author Page: https://www.amazon.com/author/rogerluri

About 4 months ago, I did a video questioning the wisdom of paying cash for your house purchase.

https://youtu.be/46Kgn48KMc4

At the time, there were very few homes on the market and with multiple offer situations, many people were buying homes with cash.

If you instead took out a big mortgage at a sub 4% rate, congratulations!

But if you’re still thinking of paying cash, now is the best time to build your own new home.

With builder’s now pulling back, you can save a ton of money by having a builder build for you.

Yesterday, I shared Dave Ramsey’s advice to a caller on his show where he not only advised the caller to go ahead and build their new home, but he said he’s about to do the same!

My Book “Don’t Buy a New House! BUILD IT” shows you how you can too,

You can see some of the numbers in my prior video Here:

https://youtu.be/46Kgn48KMc4

But better yet read my book, there is a link below!

✅ Get Print Book on Amazon: Don’t Buy a New House! BUILD IT

https://www.amazon.com/gp/product/B09PRTVBMH/

✅ Amazon Author Page:

https://www.amazon.com/author/rogerluri

✅ Download FREE eBook:

http://ld2development.com/custom-homes/

_________________________

✅ Let’s connect:

YouTube: https://bit.ly/LD2YouTube

Linkedin: https://www.linkedin.com/company/ld2-development/

Facebook: https://www.facebook.com/LD2Development/

Instagram: https://www.instagram.com/ld2development/gram: https://www.instagram.com/ld2development/

Recently I noticed that a home that we built in Old Town in 1997 or 1998 sold for just over $1M.

The reason I was struck by this was that the person who sold it had purchased the house 2004 for just over $1.5M!

Now when he bought it in 2004, the house was then only a few years old and the finishes were all stylish and new.

But when he sold it 15+ years later, the finishes were old and dated. The level of finishes was just not on par with new houses that had gone up in the neighborhood which were now selling for well over $2M.

With the new construction homes nearby priced higher, his house was being presented as a “fixer upper”.

His house has great “bones” (it’s a full masonry house, 3 story + basement).

If he would have put maybe $150-$200k into some updates and to address some deferred maintenance, the house would have compared favorably to the new houses in the neighborhood and would have easily sold for $1.8 – 1.9M.

Instead of losing money, he would have been able to easily put another $500-700k in his pocket.

Most homeowners don’t spend a lot of time thinking about updating and improving the condition of their home on a year by year basis, so it’s not unusual for a home 10 or 20 years old to be in need of some updating before hitting the market.

If like this gentleman, you suddenly find that it’s time for you to move, you may not be prepared. Still, even if he wanted to move right away, the house could have easily been updated and put on the market after he left town.

I felt bad that he didn’t get out of his house what he should have. I wish he had talked to me before he put his house on the market, but unfortunately he did not.

The good news is that the people who bought the house got a great bargain. They did an extensive rehab and the house is now beautiful and compares favorably with new $2M+ homes nearby.

The new owners will do really well on it when they sell!

Bottom line is: Before you think of putting your home on the market, Make sure go through it’s condition and marketability with a professional who can help you to maximize your return on investment!

✅ Get Print Book on Amazon: Don’t Buy a New House! BUILD IT https://www.amazon.com/gp/product/B09PRTVBMH/

✅ Amazon Author Page: https://www.amazon.com/author/rogerluri

✅ Download FREE eBook: http://ld2development.com/custom-homes/

_________________________

✅ Let’s connect: YouTube: https://bit.ly/LD2YouTube

Linkedin: https://www.linkedin.com/company/ld2-development/

Facebook: https://www.facebook.com/LD2Developmen/

Instagram: https://www.instagram.com/ld2developmen/