These New Homes are Less than Rent and They Are Loaded with Design Features
There has never been a better time to move to Oklahoma City. Right now, Oklahoma City’s richly-diverse neighborhoods are enjoying an economic and cultural renaissance, drawing music, sports, and outdoor-enthusiasts from around the country.
Whether you are a new grad looking to gain a foothold in the tech sector, or a family seeking a community with like-minded traditional values, you will be attracted to the city’s financial stability offered via a strong and diverse economy with a low cost of living.
In fact, many houses in Oklahoma City are priced below the national average, making new-home ownership attainable for buyers seeking affordable housing. Plus, most new homes are energy efficient, include designer upgrades and smart features, and give homebuyers what they want – a new home with a low monthly mortgage! In most cases, these new houses are minutes from big city conveniences, employment opportunities, and located in a neighborhood of well-manicured homes and popular amenities.
Low Mortgage Rates
The dream of homeownership is alive and well in Oklahoma City. With current low mortgage interest rates, new home ownership is within reach for many would-be home-owners who had otherwise considered themselves excluded from the housing market.
Current construction and expansion projects with proximity to downtown, major highways, and cultural centers are underway to meet the demand of the growing population surge.
While inventory reduction has taken a foothold during this surge, home builders in the area are poised to keep up with demand by constructing an assortment of affordable new homes.
Prices are On the Rise
Zillow reports in April of 2021 that “Oklahoma City home values have gone up 10.0% over the past year”. Not surprisingly, rent prices have also seen a parallel increase, as the population in OKC grows.
Given the high cost of rent relative to monthly mortgage payments, many people in OKC are drawn to the significant advantages of homeownership. The increases in home value are a reflection not only of a rapidly-growing market, but also a draw to many would-be buyers that a home purchase in OKC is a valuable investment for building equity.
With a fixed-rate mortgage, mortgage payments stay the same each month. A further advantage of homebuying is the mortgage interest deduction, the tax benefit that allows homeowners the advantage to deduct mortgage interest payments from their taxable income.
A Charming City with Vibrant Neighborhoods
The allure of Oklahoma City could be due to its vibrant neighborhoods. Nichols Hills boasts luxury homes and curbside appeal. This upscale neighborhood is known for its chic boutiques and exclusive Oklahoma City Golf and Country Club.
Alternatively, the Paseo Arts District presents a unique and trendy scene. Here, one can experience a revitalized cultural district, with music, multicultural food, and art studios.
Lakeshore Estates neighborhood is a draw for the retirement community, with ample walking paths and access to the beautiful Lake Hefner. Residents are drawn to this neighborhood to enjoy proximity to the big city attractions while enjoying tranquil space.
The historical community of Deep Deuce is a draw to business professionals looking for proximity to downtown and a hub for nationally-recognized jazz music performers.
Northwest of downtown lies Deer Creek, a growing community with public schools recognized for their high academic performance.
A Sound Investment
An investment in an OKC property is an investment in your future. Many builder’s homes are loaded with modern design features, including high-quality upgrades, designer kitchens, and state-of-the-art appliances.
Some builders, such as LGI Homes, partner with national vendors – a partnership that allows them to keep costs down, and pass those savings along to the buyer.
When shopping new homes, in particular, make sure you’re getting the amenities that fit your lifestyle, including such integratable technologies as programmable thermostats, built in USB ports, LED Energy Star-rated lights, WiFi-enabled garage door openers, and energy-efficient windows.
In Oklahoma City’s burgeoning housing market, such modern conveniences help bolster a home’s value, broadening the appeal of an investment in this hot market.