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Floorplan Showcase: The Atkinson

Categories: New Homes in Raleigh, Raleigh New Homes | Posted: April 26, 2019

Are you looking to purchase your first home this spring season or perhaps a littler nervous about dipping your toe into the pool of homebuying? Purchasing a home for the first time can be an intimidating task! Especially if you are trying to decide between a resale home or a new construction home. Mattamy Homes, formerly Royal Oaks Homes, a premier homebuilder for new homes in Raleigh, shares information on the perfect new home option for you to consider!

One of the reasons many buyers in the Raleigh market are choosing to purchase new homes, especially when it is their first home, is the reduced risk of not knowing what you are getting into with a resale home. Even if the inspection reports come back clear (or mostly clear) on a resale home, you truly have no idea of any lingering or underlying issues that home may have that could just be covered up by the seller.

So as a new homeowner, the last risk you probably want to run into is purchasing a home and then realizing you may have just purchased some costly issues that will be on your dime, that you didn’t know were there when you purchased the home.

Since the Raleigh housing market is one of the more affordable markets in the U.S., buyers in Raleigh have the privilege of being able to afford a brand new home, often for not much more than a resale home! This makes the choice of purchasing a new home with comes with a new home warranty, the ideal choice for a first time homebuyer in the market.

If you are looking for a home that will be great to enjoy for many years to come, we welcome you to come check out The Atkinson floor plan by Royal Oaks. This floor plan is a model of efficiency, which any buyer knows is at the top of their wish-list in a new home.

The Atkinson offers an open first floor, which includes the kitchen, dining room and family room. The kitchen is the heart of most homes and you will quickly fall in love with the beautiful kitchen with its stainless steel appliances, granite countertops and the stunning diagonal tile backsplash!

The upstairs of the Atkinson includes an owner’s suite, which includes a separate bath and shower that is incredibly helpful for couples to have additional space for themselves! There is also a spacious walk-in closet that you will love, especially if you are coming from a cramped apartment closet prior.

The rest of the second floor of this plan includes two additional bedrooms, a full bath, a spacious loft that will give you plenty of additional space for a home office, small gym space, rec room or even a kids play area! You will love the second floor laundry room feature as well that this home has to offer.

The Atkinson plan has a 2-car garage and an unfinished 3rd floor that can really be used for anything you set your mind to.

You will absolutely love spending the summer in your new home on the rear patio The Atkinson plan has to offer. Just imagine being able to invite friends and family over for a barbecue over at your new home this summer and enjoying all of the space you will now have to host them!

Lastly, you can start your day or unwind after a long week on your front porch with a coffee or a cocktail and enjoy the beautiful Holland Station community that The Atkinson plan is offered in.



Contact us today to schedule an appointment this weekend to see The Atkinson plan or many other highly desirable plans and models that Royal Oaks has to offer you today!


Royal Oaks Building Group is a new home builder in Raleigh and Fayetteville, North Carolina. For additional information about Royal Oaks building your Raleigh new home, please call (888) 677-1502.

Take Advantage of Low Interest Rates to Get More Home for Less

Categories: Blog | Posted: April 18, 2019

You’ve probably heard that now’s the time for buyers to get into the market. The main reason for this is interest rates – that is, historically low interest rates.

If you’re considering buying a home in the next year, you may want to bump up that timeline. Right now, interest rates are low enough that you could afford more home than ever before. We’re talking about how interest rates affect your buying power and why you can afford to buy more home for less by taking advantage of today’s rates.

How Interest Rates Affect Buyer’s Purchasing Power

It’s important to understand how interest rates affect how much home you can afford. After all, the interest rate you can secure will impact not just monthly house payments, but also your overall purchasing power.

What is your purchasing power? It refers to how far your dollar goes. Purchasing power is the amount of house you can afford based on your available budget. There are all sorts of factors that go into this, like your down payment amount, debt, and credit score.

But interest rates play a huge role in what kind of home you can buy. Take a look at the chart below, which shows how different rates affect monthly payments for two different houses.

 The chart above doesn’t factor in any down payment amount on the home and focuses on Principal and Interest (P&I) monthly payments. If you’re interested to see how your monthly payment may change with these interest rates, you can calculate that here.

Paying Less for More Home

You can see how the buyer’s purchasing power changes based on what interest rate they can secure. We’re specifically looking at homes in the $400,000 and the $450,000 range.

A buyer who secures a rate of 3.75% for their new home could have the same monthly payment ($2,087) on a $450,000 home as someone with a rate of 4.75% would spend on a $400,000 home. The lower the interest rate you can get, the more home you can afford.

Today’s buyers can afford more home for the same monthly payments. You can extend these numbers to larger, more expensive homes depending on your budget.

Comparing Today’s Rates to The Past

Today’s interest rates are historically low. Even just a few years ago, rates were double if not triple what they are now. Back in 2006, the average mortgage interest rate was 6.4%. While that’s not terribly higher than today’s higher rates, even a few percentage points can make a huge difference in monthly payments.

Before that, in 2000, interest rates were averaging at 8%. Your monthly payments for a $400,000 home back then would have been $2,935 — nearly double the highest amount on the chart above.

While doubled interest rates may not seem crazy to you, consider what homebuyers faced back in the ’80s. In 1981, buyers faced interest rates at 16% or higher (source).

Can you even imagine? Compare that to today’s rates, even on the high end of 4.75%, and you can see why so many people are urging homebuyers to jump into the market right now.

Home Buyers Today Can Afford More Home for Less

The interest rate you secure plays a considerable role in determining how much home you can afford. Today’s rates are crazy low compared to those just a few years ago, not to mention those back in the ’80s and ’90s.

If you’re looking to buy a home, now’s the time to do it. You can take advantage of these historically low interest rates. You can even go beyond your expected price range because you can realistically secure a rate low enough to pay the same monthly payments on a bigger, more expensive home.

The market is hot right now for a good reason. Lower interest rates help home buyers – whether first-time buyers or seasoned buyers looking for their next home – get more bang for their buck.

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