Plan Now for Next Spring Home Purchase



06.23.20



(courtesy NAHB.org) If you are a first-time home buyer, finding a home can be an exciting, yet, daunting experience. Before deciding on a location, finding a realtor or making an offer, you must line up your finances and become more familiar with the various loan options. To help you understand the home buying process, here are a few initial steps to take.


Learn about the Home Buying Process


If you’re not familiar with home buying lingo, types of transactions or how to begin the process, consider attending a first-time home buyer seminar. The U.S. Department of Housing and Urban Development (HUD) maintains a list of home buying resources by state, and it includes these home buying seminars. Another option is to talk to a credit counselor. You want to make sure the counselor does not work with a lender to avoid being influenced by someone who has financial interest in the loan you choose.


Set up a Savings Goal


The conventional route for buyers is to save 20 percent for a mortgage down payment. But there are many other options you can consider as well. The amount needed for a down payment can depend on the type of loan and a lender’s requirements. Federal agencies such as the Federal Housing Administration and the Veterans Administration require smaller down payments. You will need to research the agencies to determine qualification requirements and payment options.


Evaluate Your Budget


Take time to learn where you’re currently spending your money and if you can save more. Establishing a timeline can be helpful in determining your savings plan. Do you want to purchase a home in six months, a year or more? Reducing your spending, increasing your income or both can help you reach your down payment goal faster.





Pay Down Your Debts


Lenders look at how much of your monthly income is devoted to debt payments, also known as your debt-to-income ratio. In short, lenders want to know if you can pay back a loan and prefer to offer mortgages to individuals with a low debt-to-income ratio. Credit card debt will directly impact the size of the loan for which you qualify.


Calculate Your Monthly Payment


The monthly payment your make on your home is more than principal and interest. Additional costs can include escrow for property taxes, insurance or a homeowners’ or condominium fee. Especially when trying to purchase your first home, you want to make sure the total monthly payment is feasible and you can still live comfortably. Most real estate websites offer a mortgage calculator to help you figure out the complete picture of your monthly payment amounts.


Select a Lender and Get Pre-Approved


If you are pre-approved for a mortgage, you may have an edge over other prospective buyers when you’re ready to place a bid on a home. This step will signal to sellers that you are a serious buyer and your financial profile has already been thoroughly vetted. Visit and research several lenders to understand what loan options are available for you.


To learn more about the benefits of homeownership or to help you build a new home that is right for you, contact your local NAHB member or Parker Rose Custom Homes.

See you on the lot!




Parker Rose Custom Homes
www.parkerrosecustomhomes.com

info@parkerrosecustomhomes.com

(304) 933-3374





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Spring Has Sprung at Parker Rose Custom Homes!



05.02.20



"We have always been about family and always will be. So much so, our name is derived from one of my children and one of Bill's children and our tag line is our mission statement - families building families their forever homes." Clark Ware, President of Parker Rose Custom Homes.


"Every year, usually in the spring time, we like to sort of "re-baptize" our team - especially the new workforce and staff that have recently joined us - and do an offsite or workshop (this year it was online!) discussing our core values and what it means to build a Forever Home.


It's easiest if you start from the context of feeling as if you're really a part of the customer's family and feel as if they're coming to a family member whom they know is a quality custom home builder and entrusting us to build a sustainable home to last through generations."


Parker Rose specializes in building homes on customer's properties, starting from the mid $100s and up. They build full, energy-efficient, turn-key homes and are mindful about a home design and placement that allows the home to complement the natural settings and surrounding.





"Together, Clark and I have over 50 years of experience in residential construction and design," Bill Burdett, VP of Sales and Operations. "We became tired of corporate style construction where customer satisfaction and product quality were sacrificed at the expense of profit. Now we have tight control over the finished product because we're hands on and selective to only build within our means, and we have the freedom to focus on the customers wants and needs and achieving their overall objective long-term."

Parker Rose Core Values

Integrity

Quality

Commitment

Reliability

Service!


Quality and Care can be defined in the home specifications

Here is an example of a few items that Parker Rose takes pride in providing as a baseline:


10" thick precast 'green' foundations with R-12.5

R-21 insulation on 2x6 exterior walls

3/4" tongue and groove subfloor (50yr warranty)

Oak interior railings on split and bi-levels

Double hung vinyl windows, lowE/argon filled (w/screens)

Fiberglass ext. doors w/composite jambs;(vinyl brick mould & toe kicks)

Quality lighting packages & energy efficient LED surface puck lights

Communications cabling w/Cat5 jacks

GFI outlets at every exterior door

Stainless steel appliances

High efficiency gas furnace and air conditioning

Quality cabinetry; 1/2" solid wood drawer boxes w/dovetail and soft close drawers construction, 3/4" plywood shelving, painted or w/natural hickory with crown mould (all plywood construction)

Granite counter and vanity tops in kitchen and master bath

Industry-leading warranties including 10 year structural warranty

( ... and many more)





Why Choose Parker Rose Custom Homes?

At Parker Rose Custom Homes, we've been all about "family-first" for years and have enjoyed taking a (smart) but pragmatic approach to custom home building. Our team is comprised of hands-on builders who are involved from conceptualization to execution and follow-up. We work hard to ensure that the experience and finished product is exactly as you expected - or better! We take pride in catering to each and everyone one of your needs. We hope to meet you one day to talk about what YOUR "forever home" will look like.


See you on the lot!




Parker Rose Custom Homes
www.parkerrosecustomhomes.com

info@parkerrosecustomhomes.com

(304) 933-3374





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HOUSING FUELS THE ECONOMY IN WEST VIRGINIA



04.18.2020





(contribution credit/re-post: National Association of Home Builders) - Housing is central to American family life and critical to a thriving economy. The state of the housing industry is a good barometer of the broader economy and the condition of the nation's social fabric.


Laws and regulations can have a profound effect on production and affordability of housing in West Virginia. Let's take a look at some data to see how our state is doing in terms of new home production, housing affordability, remodeling activity, and other benchmarks.

Perception of Growth in West Virginia

There are both advantages and drawbacks to growth in a community, which can make it a divisive issue among West Virginia residents. Even members of the same community can perceive growth in different ways.









Housing Availability and Policy in West Virginia

The ability to find a home in your area is a factor many of us take for granted. Not all of us have this luxury, and there are specific ways West Virginia residents would like to see the government act to remedy this.





Homeownership in West Virginia

Homeownership is a key piece of the American Dream, and one that millions of West Virginia residents want to participate in each year. But for some, there are obstacles in the way to reaping the wonderful benefits associated with homeownership.





Remodeling in West Virginia

Millions of West Virginia residents remodel their homes each year, for many different reasons. This brief exploration of those remodeling their homes gives insight into the scale, and the reasons, for trying to improve our homes.





These polls were conducted for NAHB by Morning Consult from December 18-23, 2017, among a national sample of 16023 Adults and from July 14-17, 2018, among a national sample of 15995 Adults.


The data is still relevant, with the exception of any recent trends triggered from the Covid-19 crisis.


The interviews were conducted online. State and district level results are estimates produced by a model known as multi-level regression with post-stratification (MRP). Prior to model estimation, the data were weighted to approximate a target sample of Adults based on age, race/ethnicity, gender, educational attainment, and region. Results from the full surveys have a margin of error of plus or minus 1 percentage points.

Why Choose Parker Rose Custom Homes?

At Parker Rose Custom Homes, we've been all about "family-first" for years and have enjoyed taking a (smart) but pragmatic approach to custom home building. Our team is comprised of hands-on builders who are involved from conceptualization to execution and follow-up. We work hard to ensure that the experience and finished product is exactly as you expected - or better! We take pride in catering to each and everyone one of your needs. We hope to meet you one day to talk about what YOUR "forever home" will look like.


See you on the lot!





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Key Questions to Ask When Considering to Build a Custom Home



04.06.20



At some point in life most individuals have to go through the nail biting experience of buying a home. It's sort of become a grappling moment in life that's anticipated. In generations past, it would be a house or two later when a family thinks about building a custom home to get exactly what they want and a home that will remain in the family for years. That's when complications would really kick in! The decision to construct your own home can become quite an undertaking since there are so numerous variables to consider and manage.


But today, custom building and building on your own lot trends are really on the move and we're seeing more and more first-time home buyer customers and not just the busy families in their prime and empty nesters wanting to "right size".


If you're considering building YOUR dream home, the following are some good questions we're offering up for consideration and resolve. And, note, these points are not about what builders will or won't do. They will go with their own standards unless you ask to discuss an alternative and in most cases they'll be happy to accommodate you.







Number one. Look at the quality of the materials to be used. Take interior walls for example. 2x6 exterior walls with R-21, we believe, should be the standard. Some builders may use the 2x6 exterior walls but with R-19. Others examples of materials and sub-products that are key to the sustainability of your custom home are windows. Double hung windows over single hung windows with full wood interior trim is a better quality solution to have incorporated into the specifications and bill of materials.


Just because the home is going to be custom built doesn't mean they're all built the same so compare differences and not just price to make the best decisions.


Number two. There are three general cost categories in building a home. First, the house cost with or without the lot cost. (Parker Rose Custom Homes plays an active role in sourcing lots) Second, the site work. Some of the large builders may say that excavation is included. What they mean is that they include the actual digging of the hole that the home is to be built in. What is too often misunderstood is that this excavation doesn't include leveling the house pad and stripping the topsoil (for you to later use for grass seeding). Also you'll want to be clear about including provisions for prepping and finishing the driveway(s), stone fill, footer drains, gas, electric and sewer lines and septic systems.


Initial pricing can look great but when all of the needs to turn-key the property and home are met, costs can be much higher and actually, unfortunately, seem to skyrocket if added in at the last minute. Some of these services can easily be bundled and offered at cost but some builders will mark up their sub contractors 15 to 18%. Parker Rose Custom Homes provides excavation and other ancillary services bundled in at cost.


Number three. Seek a turn-key, full-service approach, from lot selection to having the front door keys tossed to you! Have the building contractor take the time to provide you with all the costs to building your new home so that you can make the most informed decision for your budget and life style. Parker Rose Custom Homes does site evaluations and obtain excavator bids at no cost to the customer.


Number four. Are you able to have designed exactly what you want? Some custom home builders will feel strong about sticking to "their" set of tried and true plans. Nothing wrong with that, especially if it works for you, the customer. But a true custom home builder will not steer you to a plan that only puts more margin in the project for them, but rather, will come up with the solution - alternative - that allows you to get exactly what you want. At Parker Rose Custom Homes, we will make necessary adjustments to meet your needs.


Number five. The term "In-house financing" initially sounds good but is it the best way for you to go? Quite a few of the large regional and national builders have in-house financing programs through their own lenders or their own subsidiary companies. Parker Rose Custom Homes works with local lenders that offer some of the best rates and programs to be found. We feel that it's always better to work with a friendly hometown financial expert where you can walk into their door and speak with directly in person, rather than dealing with a different associate each time you call into a call center somewhere.

Why Choose Parker Rose Custom Homes?

At Parker Rose Custom Homes, we've been all about "family-first" for years and have enjoyed taking a (smart) but pragmatic approach to custom home building. Our team is comprised of hands-on builders who are involved from conceptualization to execution and follow-up. We work hard to ensure that the experience and finished product is exactly as you expected - or better! We take pride in catering to each and everyone one of your needs. We hope to meet you one day to talk about what YOUR "forever home" will look like. See you on the lot!





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The custom built home market is growing and the latest trends will be driven by new emerging "Lifestyle" changes - now more so than ever before.



04.03.20



As we emerge from the Covid-19 crisis, we'll seem the same as we were before as we get on with our lives, but we'll be different. And when it comes to church, family, work and lifestyle decisions, we'll be on a new course - a more simpler, but smarter course.


It has been said that we don't choose our future, our future (or fate) chooses us. At Parker Rose Custom Homes, we have been uniquely positioned for these emerging times. We're grateful and we're ready to serve you and build you the forever home of your dreams.







We have been focusing on building highly efficient, smart homes for years for many types of customers - including first home buyers (yes!) or couples settling back home and wanting to "right" size.


Some of most recent conversations with families have been particularly interesting and are surely a sign of the times and where we're heading. "Can we make the bay window bump out in the living room larger to accommodate a desk in case our home office becomes a nursery?" "What interior wall sound proofing solutions can you provide?" "How can design be utilized to easily enable a future mother-in-law suite down the road?" Couples and families are taking more time to consider lifestyle decisions and new priorities. And with interest rates being the lowest that we'll see probably for quite sometime, they're considering their many options now around building exactly what they want.


So, yes, features and functionality, "green" sub building incorporation, highly efficient infrastructure and increasing use of smart home standards enabling a "connected" home, are all top priorities when specifying custom home needs - but now within the new frame work of being pragmatic and relevant.


These trends will continue to grow in scope and adaptability but within the context of supporting the family's overall priorities and lifestyle. For example, we don't hear customers asking about new materials, "cool" home designs and technology just for the sake of incorporating it without purpose that supports new principles.

Why Choose Parker Rose Custom Homes?

At Parker Rose Custom Homes, we've been all about "family-first" for years and have enjoyed taking a (smart) but pragmatic approach to custom home building. Our team is comprised of hands-on builders who are involved from conceptualization to execution and follow-up. We work hard to ensure that the experience and finished product is exactly as you expected - or better! We take pride in catering to each and everyone one of your needs. We hope to meet you one day to talk about what YOUR "forever home" will look like. See you on the lot!





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