Homeownership: Opportunity is Knocking! Tour the HBA Parade of New Homes

June 4, 2018

HBA of Greater Cleveland

Contact:  Brenda Callaghan, Exec. Dir.

6140 West Creek Road

Independence, OH 44131 / PH  216.447.8700 / bcallaghan@HBAcleveland.com

 

NEWS RELEASE: Immediate – June 2018

Homeownership: Opportunity is Knocking!

Tour the HBA Parade of NEW Homes

Homeownership is an important part of the American way of life. Today there are many opportunities in the housing market to find a home that is right for you – including low mortgage rates and new homes that are built to fit your lifestyle.  However, market conditions can change, and these opportunities may not be around for long, so home buyers shouldn’t wait. 

The Home Builders Association (HBA) of Greater Cleveland is pleased to announce the annual Summer Parade of Homes, June 2 & 3 and June 9 & 10 from 12 noon – 5 p.m.  The Parade highlights 24 New Homes and 18 professional custom home builders and admission is FREE.  These homes on Tour include styles from modern urban farmhouse architecture to luxurious town homes and everything in between!

The Tour includes new model homes located in seven different counties throughout northeast Ohio including Cuyahoga, Geauga, Lake, Lorain, Medina, Portage and Summit Counties.  Communities on the Tour are as far west as Bay Village, south to North Canton and to the east - Concord and Mentor.

Today’s low interest rates are helping home buyers find affordable housing options.  HBA Executive Director Brenda Callaghan says, “It's important to keep in mind that interest rates are sensitive to market forces and can change quickly. Even a slight rate increase can push monthly payments to the point that a buyer might miss out on their first choice for a new home.”

Although, lenders are looking more closely at borrowers today than in recent years, there are options for purchasing your home without a 20% down payment. For example, the Federal Housing Administration (FHA) offers loans to first-time home buyers with down payments as low as 3.5%. However, these loans require mortgage insurance.

Callaghan adds, “Homeownership also provides important benefits to owners. Unique tax benefits that apply only to housing help lower the cost of homeownership. Both mortgage interest and property taxes are deductible.” For most Americans, homeownership is a primary source of net worth and an important step in accumulating personal financial assets over the long term.

Although there are many positive financial aspects to homeownership, a home cannot be valued in monetary terms alone. Not only can homeownership be a stepping stone to greater financial well-being, it provides a permanent place to call home and great personal satisfaction.  Academic research also shows that homeownership provides a wide range of social benefits and strengthens the nation’s people and its communities. Homeownership is truly a cornerstone of the American way of life.

The HBA Parade of Homes is sponsored by 84 Lumber.  Consumers should contact the HBA of Greater Cleveland at 216-447-8700 or visit HBAcleveland.com for a list of the homes and directions. Visitors can also download the FREE mobile app, Parade Craze on their smart phone or tablet and view all of the homes in the Parade. Users will see a quick profile of the builder, a list of the homes’ features and get immediate directions to any or all of the homes.

The Home Builders Association (HBA) of Greater Cleveland is a non-profit organization dedicated to the promotion, advancement and professionalism of the Building, Remodeling and Associated Industries. The Association is a 350+ member organization that represents all aspects of housing and serves as the voice of housing in northeast Ohio while protecting the Foundation of the American Dream of owning a home.  The HBA encourages consumers planning to build or remodel, to work with a member of their local Home Builders Association because they are professionals who are knowledgeable in the latest building technologies, building codes and housing trends.