Jome Blog

Say Hello to Jome: Your Partner in Finding and Buying New Build Homes

Dan Hnatkovskyy — Wed, 18 Dec 2024 13:17:00 GMT

We’re thrilled to introduce Jome, the new name and brand identity of the platform that is transforming how homebuyers find, compare, and purchase new construction homes, backed by a successful $9.8 million Series A funding round that brings total investments to $16.5 million. Formerly known as NewHomesMate, Jome is here to make the path to your brand-new home effortless, enjoyable, and completely hassle-free.

So, What is Jome?

Jome (pronounced joʊm, similar to home) represents the joy of a new home. It’s that indescribable feeling of stepping into a new place for the first time, filled with excitement, optimism, and endless possibilities.

Our new visual design embodies this feeling with textured illustrations inspired by doormat fibers - inviting, tactile, and full of warmth. You experience a new home through your senses. Each touch builds a connection as you imagine your life unfolding in this untouched space. It’s an immersive journey where every detail invites you to embrace the promise of a new beginning.

Our platform is for those who treasure that magical first step into a new space and believe every home is an adventure waiting to unfold. We created our brand with a promise to deliver an innovative, joyful journey to every new homebuyer.

Three pillars anchor our promise — Find, Buy, and Enjoy

Find is about simplifying the search. We don’t focus on endless scrolling. Instead, we focus on results. We streamline finding the perfect new construction home with personalized filters, quick tour scheduling, and new construction community reviews.

Buy is where the magic happens, as we guide buyers from dreamers to homeowners. It begins with our certified experts, who provide tailored advice and dedicated support. We take pride in offering a level of service that empowers you to make decisions with clarity, leaving no surprises along the way.

Enjoy is where we go beyond the transaction to create lasting memories. For many, buying a home results from years of saving and planning. However, this incredible achievement often goes underappreciated. Through our Buyer’s Care initiative, Jome will honor new homeowners with personalized gifts, housewarming parties, and ongoing support to ensure the excitement continues long after you move in.

Why Use Jome?

Did you know that nearly one-third of single-family homes available today are new construction properties? Yet many of these homes aren’t listed on popular real estate platforms. They’re hidden in builder spreadsheets, making it difficult for buyers to access them. Jome changes this.

Our AI-powered platform aggregates 90% of the available new construction inventory in 16 major U.S. cities, including Austin, Denver, and Miami, and brings it to your fingertips. From builder incentives and pricing to nearby amenities and air quality scores, Jome transforms overwhelming choices into clear, confident decisions.

Since 2020, we’ve helped over 100,000 buyers discover their perfect new homes by fostering strong relationships with trusted builders and curating the most vibrant new construction communities.

But we go beyond data. Jome offers:

Advanced AI-powered tools: Streamline your journey with community reviews, summaries, and instant tour booking features, while sophisticated filtering options help you pinpoint your ideal home by narrowing down choices based on specific features, commute, area infrastructure, and additional criteria.
Unbiased new home experts: Get personalized support from experts specializing in new construction homes.
A seamless, joyful experience: Browse, tour, and buy with one user-friendly platform.

Jome founders: Dan Hnatkovskyy and Sofia Vyshnevska

Growth Fuels Our New Chapter

We’re also excited to share that Jome has raised $9.8 million in Series A funding, bringing our total funding to $16.5 million. Led by Geek Ventures, with participating investors U.Ventures, Toloka VC, Vesna Capital, Roosh Ventures, Network VC, SID Venture Partners, Flyer One Ventures, Forefront VP, and others, this investment will allow us to expand our reach into more markets, enhance our technology, and continue delivering unmatched value to buyers and builders alike.

Start Your New Home Buying Journey Here

At Jome, we believe a home is where life happens, dreams flourish, and new chapters begin. It’s the warmth of morning sunlight streaming through your windows, laughter filling your living room, and the sense of being where you belong.

Whether you’re stepping into your first home, expanding for a growing family, or seeking a space that reflects who you are today, we’re here to make the process joyful.

Welcome to Jome. Your housewarming party is closer than you think.

The State of Housing: Challenges in the US Housing Market 2024

Dan Hnatkovskyy — Fri, 26 Jul 2024 21:53:07 GMT

Executive Summary

Amid a gloomy backdrop of rising material costs and economic uncertainty, the United States finds itself short of up to seven million residential properties, while project starts have declined for two consecutive years.

With supply failing to keep up with demand, this shortage of housing has seen average prices rise to six times the median household income, up from four to five times in 2004. Combined with the nation’s stagnant wages—with pay for all but the country’s top earners having remained largely the same since the late 1970s—the “American Dream” of homeownership, and the strong financial foundation it provides, is now all but a pipedream for millions of people.

For those that cannot afford to buy, the renter’s market awaits. However, with average rents having risen by 30% since 2019, significantly outpacing wage growth, half of all US tenants are paying unsustainable amounts, sacrificing their health and well-being for shelter.

Many homeowners find themselves in a similar position with living costs having skyrocketed and interest rates stretching the average household’s finances thin. More than a million Americans now find themselves more than 60 days past due on their mortgage payments.

The monetary struggle of maintaining a home impacts not only on adults who must deal with the worry of covering their bills, but on future generations. Research shows that children without a safe, stable, and affordable place to live suffer from more health problems, lower educational performance, and more psychological stress.

NewHomesMate has created this US housing market report to delve into the real estate challenges impacting the residential property market and the real-life consequences of inaction. The causes and consequences of America’s housing crisis are multifaceted. However, by understanding the issues, the industry can begin to plan for a future free from housing (un)affordability and homelessness.

Table of contents

Locked out: How is housing unaffordability affecting the average American?

Priced out, stressed out: Mental health in the midst of a housing crisis

The boomerang generation: Moving back home to cope with housing costs

No room to grow: The impact of inadequate housing on America’s family life

Building the future: Capitalizing on opportunities in America’s housing market

Demolishing housing barriers: How can real estate stakeholders address the crisis?

What are the Experts Saying?

Methodology

Sources

Locked out: How is housing (un)affordability affecting the average American?

Key insights

With US property prices having risen by over 50% since 2019, NewHomesMate’s housing market analysis shows the true cost of purchasing a home has far surpassed the ‘reasonable’ expectations of the average American.
While 57% doubt they will ever afford their ‘dream’ home, 84% of home buyers are willing to compromise to get on the property ladder. Some 58% would be open to downsizing, while 12% would purchase a house with a history of massacre.
Among those who already own property, 7% spend more than 50% of their wage on mortgage payments. With many struggling, 25% have cut back on essentials, 36% have reduced entertainment spending, and 32% have taken on extra work.
To improve affordability, the United States needs to increase supply. With prices having reached unsustainable levels, an increase in new construction homes would reduce competition and maintain prices at affordable levels.

Following its recovery from the 2008 global economic crisis, the US housing market has recorded 12 consecutive years of growth. Not one to two percent, as was commonplace prior to the turn of the millennium, but an average annual rise of 7.2%. As people stretched their budgets to secure more space during the COVID lockdowns, average prices have surged by more than 50% since 2019 alone, putting homeownership further out of reach for the average American.

NewHomesMate recent survey shows that the majority of people (58%) believe that under $250,000 is a reasonable price to pay for a single-family home. However, the reality is that buyers should expect to pay $412,000 on average—and more with every month that passes. Since the start of 2024 alone, the price of a single-family home has risen by 6.8%.

Saving for the dream any home

After years of pushing themselves at work and cutting back on essentials to save for a down payment, only to find prices rising faster than they could save, the average American’s optimism that the housing market will improve is waning. Some 57% of people have doubts that they will ever be able to afford the home they’ve always dreamed of owning, according to the NewHomesMate recent survey.

This lack of affordability has forced homebuyers to temper their expectations, with 84% willing to bid for properties that don’t tick all their boxes if it means finding somewhere suitable to live. Some 58% of people would purchase a smaller property, for instance, while 31% are willing to extend their commute to make their budgets go further.

The unrelenting housing crisis has even strengthened the market for once-unwanted properties, such as those involved in a crime (12%) and those in undesirable neighborhoods (8%).

Missing meals or mortgage payments

Some 50% of Americans are fortunate enough to own their own home, benefitting from a near-constant gain on their investment. However, the difficulties of navigating the housing market rarely subside with homeownership.

Affording the typical US home now requires an income of $115,000—some $40,000 more than the average household earns—while mortgage rates in 2024 have reached a new high. As a result, homebuyers are stretching their finances to afford suitable properties, with almost one in ten unsustainably spending more than 50% of their wages to cover their mortgage expenses (NewHomesMate survey of 2,000 Americans reveals).

In decades past, it was common for Americans to afford a family home on a single income. Now, 30% would find themselves struggling to make the monthly payments if they were to split from their partner.

Such large mortgage payments may be affordable under normal circumstances. However, recent years have been anything but, owing to a unique combination of global disasters and geopolitical tensions. American consumers are spending 27% more on energy than before the pandemic, groceries are up 25%, while insurance costs have risen by a third.

To cope with rising costs, 25% of homeowners told NewHomesMate that they have cut back on essentials such as healthcare (7%) and food (18%). While 32% have taken on extra work, 11% have fallen into debt, putting them at risk of home foreclosure.

Addressing America’s housing unaffordability

Housing should not be a luxury, and homeowners should not have to take on unsustainable mortgages to live comfortably.

The 2008 financial crisis cost almost 10 million Americans their homes as rising unemployment resulted in mass foreclosures. In recent years, we’ve seen similar signs of disaster—albeit at a lesser scale. In New Jersey, Illinois, and Florida, one in every 500 mortgaged properties were repossessed in the first half of 2024.

However, despite America’s precarious economic conditions, many are willing to ignore the risks. While the existing home market has declined since 2021’s peak, it has maintained an average of 4.2M monthly sales in 2024. Given the limited housing supply, this has continued to force prices upwards despite falling affordability.

Evidently, America’s housing problem is an issue of stock, of which unaffordability is a consequence. The only solution is to increase supply to meet demand.

While construction has been gradually returning to its pre-2008 average over the past decade, 2024 has been marked by turbulence, with mortgage affordability (or a lack of) and falling buyer interest giving house construction builders pause.

However, the falling number of inquiries and offers isn’t due to a lack of desire. Rather, the average buyer is simply unable to secure finance while property prices and mortgage rates stick at unaffordable levels. Increasing the number of brand new houses coming to market would reduce competition, ensuring homebuyers aren’t forced to spend beyond their means, and maintaining prices at affordable levels for those eager to purchase.

Priced out, stressed out: Mental health amid a housing crisis

Key insights:

Some 50% of people have noticed a decline in their mental well-being due to the housing crisis, with 34% experiencing constant stress, 18% anxiety or panic attacks, and 13% insomnia.
Economic turbulence disproportionately affects poorer households, exacerbating mental and physical health issues.
Many use social media to distract themselves. However, seeing the homes and lifestyles of influencers and celebrities prompts jealousy and envy in 33% and 42% of Americans, respectively. For 11%, these feelings result in depression.
With the difficult path to homeownership putting a significant mental strain on the average American, this highlights the urgent need for more affordable housing.

Property is more than an investment and an inability to afford it isn’t merely a missed opportunity. There is a shortage of between four and seven million homes, and 85% of renters cannot afford to buy in the current market. Behind these facts and figures, real people are struggling to find a place to live and are left wondering whether they will ever attain the luxury of homeownership.

Battling economic turbulence and faced with potential homelessness, NewHomesMate research shows that 50% of people have noticed a decline in their mental well-being as a result of the housing crisis.

Some 34% of people admitted they experience constant feelings of stress, 18% suffer from anxiety or panic attacks, and 13% suffer from insomnia. For 11% of people, dealing with pressures in the housing market has led them to binge eat or consume more alcohol—concerning lifestyle changes that will only worsen the mental and physical effects of stress and anxiety.

When issues arise, such as recent energy price rises, poorer households are far more likely to feel the effects.

Many people turn to social media seeking distraction. However, these platforms are populated by influencers flaunting their wealth, seemingly unaffected by unfavorable market conditions. Some 33% of Americans admit they have felt jealous after seeing influencers’ luxury homes on social media, with 11% stating they suffered feelings of depression after comparing their living conditions to those of social media stars.

It isn’t just social media that offers a constant reminder of the housing crisis. Some 42% of people admit they feel envious—with 10% having experienced depression—of the celebrities in the newspapers, magazines, and on television screens.

Making homeownership dreams a reality

Property ownership doesn’t only offer a place to sleep. It provides security—both physically and psychologically. Where renting comes with the risk of a landlord increasing your monthly bills, homeowners have greater control over their future finances.

But for the average American, purchasing a property comes at a significant cost to their mental well-being, requiring prospective buyers to reduce their spending for more than a decade to fulfill their goal, with no guarantee prices won’t continue to rise in that time. With a median income of $82,200, it will take 12 years on average to amass the down payment required to purchase a typical US home at current value.

Failing to act risks causing further harm to the public’s mental health. Government and developers must work together, going above and beyond to build more homes, ensure supply meets demand, and make homeownership attainable for the masses.

The boomerang generation: Moving back home to cope with housing costs

Key insights:

Rising housing costs mean half of renters are now spending over 30% of their income on rent, with millions allocating half their wages towards housing.
Some 13% of Americans have considered moving back with parents to cope with the financial strain, while 26% would consider living with their partner’s parents.
However, many don’t have friends and family to rely on, putting them at heightened risk of homelessness—a growing problem that can only be addressed by improving housing affordability.

Census data shows that 3% of US homes are overcrowded, but the problem is greater in the areas most affected by housing shortages and unaffordability. Hawaii (8.5%), California (8.2%), and New York (5.3%)—the three states with the highest average property prices—rank first, second, and fourth for homes with more than one occupant per room.

Those priced out of adequate living space are forced to seek alternative arrangements, such as seeking shelter in over-occupied shared housing, despite overcrowding negatively affecting the physical and mental health of occupants.

With living costs having risen sharply since 2021, half of all US renters are now paying more than 30% of their income towards rent, while more than 12 million are spending half of their wages on housing. Struggling to cope with the costs, 13% would consider moving back with their parents to improve their situation (NewHomesMate study shows).

While this may ease the financial burden, it can cause additional social issues. Living with parents into adulthood is often unfairly associated with characteristics such as immaturity, lack of ambition, and financial incompetence. Given these harmful stereotypes, 47% of people harbor doubts about dating those who live in the family home.

Those without a partner are among the worst affected by the housing and wider cost of living crisis. On average, single occupants spend $13,095 on shelter annually, compared to $8,808 for those in two-earner households—a difference of almost 50%.

However, the cost of living crisis has not been plain sailing for couples, with 26% of Americans open to moving in with their partner’s parents in response to rising living costs.

While rates have fallen from a record high of almost 50% during the pandemic, a third of young adults still live in their parents’ homes. However, these older generations are also feeling the impact of higher living costs, with 56% believing they should charge their adult children rent to cover the bills.

Even then, the financial benefit of living with parents is significant, with savings estimated at $13,000 before the current cost of living crisis.

Fixing America’s broken foundations

However, many do not have friends, family, and partners to turn to ease their housing struggles. With rising living costs putting a squeeze on America’s finances, rates of homelessness are at an all-time high, according to the latest Department of Housing and Urban Development (HUD) figures. One in every 500 Americans is currently without a home.

Given the challenge homelessness presents in finding and maintaining a stable income, those down on their luck face an uphill battle to recover financially.

In addition, research shows that immigrants are disproportionately affected, given many have no family in the country to turn to. An estimated 14.3% of non-natives live in overcrowded housing compared to 3.5% of US-born workers.

It’s also no surprise that the homelessness rates are highest in California and New York, where properties are expensive and few and far between. As is often the case in real estate, the problem lies in the insufficiency of affordable housing. Addressing the shortage would reduce rates of overcrowding and homelessness—and the resulting health struggles, higher mortality rates, and economic deficiencies.

No room to grow: The impact of inadequate housing on America’s family life

Key insights:

Housing issues cause conflict among 30% of couples, with 17% fighting over money and 13% clashing due to space constraints.
Just 21% of couples feel closer together, with 27% fearing their difficult living situation will have long-term relationship impacts.
Some 61% of people believe children need their own bedrooms, yet 70% of multi-child households lack this space, affecting children’s mental health and social development.
While many are putting off having children due to the housing crisis, population decline will offer little relief due to mass migration towards economic hubs.

As accommodation costs continue to outpace wage growth and rising expenses shrink household budgets, many have faced difficult choices over which necessities they should cut from their budget. Some 18% are eating less, for instance, while 7% have avoided healthcare to reduce expenses.

These decisions are causing rifts between couples and, in many cases, forcing young people to deter starting families of their own. It’s no coincidence that rates of both marriage and childbirth have declined in line with America’s worsening housing situation. Ultimately, this crisis isn’t just pricing all but America’s top earners out of homes; it’s pricing them out of the ability to start and maintain a family.

Romance in recession

Moving in together is supposed to be a special moment in a relationship, but for many it’s a source of stress due to the financial strain.

NewHomesMate survey shows a third of couples have noticed negative impacts on their relationship caused by housing. Some 17% admit they fight over finances and 13% state the size of their property is a cause of conflict. In contrast, just 21% say their housing situation has brought them closer together.

Likewise, 28% of people have noticed a negative impact on their intimacy. Some 13% state the constant stress of worrying over housing has reduced their libido, and 15% admit their housing situation provides no suitable space for sex.

Rents have jumped by 30.4% nationwide since 2019, outpacing wage growth by more than a third in some cities and intensifying financial instability in many households. Thankfully, inflation has tailed off in recent months, with rent growth slowing down in many of the United States’ largest cities, offering renters a glimmer of hope that their financial situation will begin to improve.

However, many do not share this optimism, with 27% fearing that the housing crisis will continue to put a long-term strain on their love lives.

Giving children Space to flourish

It isn’t just adults that suffer in financially- and space-constrained households. There is an undeniable link between the quality, location, and affordability of housing and a child’s ability to flourish.

Some 61% of people believe each child should have a separate bedroom—a scientifically backed ideal, with studies show children who have access to their own space tend to fight less, sleep better, excel in education, and suffer from lower rates of depression.

Likewise, 75% of people believe having separate bedrooms helps children to develop independence. For instance, it might aid them in learning to sleep alone, a common obstacle for many children, or provide creative freedom to decorate their own space and improve their decision-making skills.

However, this ideal is out of reach for many families. Today, 70% of US households with two or more children do not have the space for every child to have their own room.

Not only does a lack of personal space impact home life, but many fear it could stall their child’s social development. Some 18% of parents told NewHomesMate that they worry that having a small home stops their children from inviting friends over.

Likewise, 13% of parents fear that their children are ashamed of their current living situation. This results in feelings of guilt, which further compounds the mental health impact of America’s housing crisis.

The ever-growing city

Young people staying in crowded parental homes into their adult years, children having to go without necessities, and unhappy couples forced to stay together out of fear of homelessness—the housing crisis is having a profound effect on America’s family life and romantic relationships.

For many, the solution is to put aside plans for starting a family and hope that the housing market one day improves. Consequently, the US population is expected to climb to a high of 370 million over the next 50 years before beginning its decline as fewer people have children and the population ages.

That may sound like good news for future generations hoping to find a home, but it’s far from a solution. Falling populations are often seen as a sign of an area’s decline. Fewer people move in and more seek to leave—and they need somewhere to go with a thriving local economy that offers opportunities and income.

Today’s market is already presenting plenty of examples. While the population grew by just 0.5% nationwide last year, Texas—with the second-highest housing shortage in the country—saw numbers increase by over 1.5%. California, by far the most populated state, is another prime example. Requiring an annual wage of more than $230,000 to qualify for a mortgage to purchase a mid-tier home, and with living costs 39% above the national average, the state is unsurprisingly home to America’s largest homeless population.

While housing supply may increase and prices may fall in areas with little demand, so too do job prospects and wages. Meanwhile, in the cities people flock to for work, the housing crisis will remain as challenging as ever.

Building the future: Capitalizing on opportunities in America’s housing market

Key insights:

Upcoming home construction starts have stalled, with future building projects at their lowest since 2022. However, demand for real estate remains high.
Some 73% of homebuyers desire sustainable home improvements, with 62% willing to pay a premium for eco-friendly furniture and appliances.
Location and infrastructure are also important to buyers today, with 84% prioritizing a safe neighborhood and 39% desiring key amenities within walking distance.

The ethical need to fix America’s housing market is clear, but real estate developers may question the business case.

In recent months, the market has seen a stall in construction starts with projects for future development falling to their lowest level since the end of 2022 in response to turbulent interest rates and the subsequent tailing off in demand.

Yet, interest remains high among millennials, who now account for 60% of purchases across the country, and a new generation of young Gen Z buyers are beginning to turn their attention towards real estate. The demand—and opportunity for developers—is there. It’s just a matter of capturing attention, assisting buyers, and convincing them to invest.

Build for eco-friendly buyers

According to the National Association of Home Builders, 73% of homebuyers desire an ENERGY STAR-certified home. NewHomesMate survey shows 60% of current homeowners have already acted to cut their home’s utility bills. Some 22% have invested in smart technology to keep energy usage down, while 28% have sought to improve their property’s insulation.

Energy-efficient appliances—already installed by 27% of homeowners—are in high demand, and 62% of Americans are willing to pay a premium for planet- and wallet-friendly fixtures and fittings. Given the high cost of real estate, many will be unwilling to invest in a property with high recurring costs. To capture the shrinking market, energy-saving measures should be a top priority for new construction developers.

Incentivize prospective buyers

While existing home sales have slumped by 33% since the pandemic, new construction sales have kept pace. This is in part due to homebuilders having the resources to adjust prices and offer incentives to counteract changes in the market. Whether by utilizing in-house or partner mortgage companies to provide buyers with favorable rates, covering closing costs, or offering high-end fittings as part of the deal, builders can use their position to negate many of the housing market issues facing homebuyers today.

Avoid short-term interior trends

On average, it takes 17 months to plan, design, and develop residential buildings containing two or more units. Many interior design trends do not stand the test of time, while outdated design choices can affect the saleability of a new construction home. Developers should consider styles with proven longevity. While the ‘industrial’ look was among the most popular in the 2010s, NewHomesMate survey shows 10% of people now consider it to be dated. French Provincial design, on the other hand, remains the most popular choice for homeowners seeking timeless style.

Don’t undervalue location

Safety is the top desire among Americans looking for a home, with 84% stating a safe neighborhood is important. Despite the shortage of quality housing, properties in undesirable areas remain harder to sell. While land may be cheaper and easier to acquire, developers will ultimately pay the price in additional marketing costs, longer days on market (DOM) metrics, and reduced cash flow.

Invest in infrastructure

You can change a home, but you can’t change its location. For buyers, community amenities are often more important than the property itself. For instance, NewHomesMate survey reveals 33% of Americans say a highly rated school system matters when choosing a home. Likewise, access to grocery stores (39%), public parks (24%), public transit (18%), public libraries (12%), and recreation facilities (8%) are also highly desirable. When building at scale away from developed residential areas, investment in local infrastructure is paramount.

Demolishing housing barriers: How can real estate stakeholders address the crisis?

The United States’ housing gap is ever-widening, but owning a home should be a commodity; not a luxury.

Not only do real estate stakeholders have an ethical responsibility to ensure the market remains fair and open, but the future economy could depend on it. With housing shortages and unaffordability shown to profoundly impact health and well-being, migration, familial relationships, and worker productivity, inaction risks broad national implications for businesses and society.

We’ve seen positive signs of improvement in recent years. New construction homes in Texas make up a large portion of the state’s housing supply, with 23% of all occupied units having been built since 2010. Likewise, Florida, California, North Carolina, Georgia, and Tennessee—among the areas with the most serious housing shortages—have accounted for almost half of new construction in the US since the start of the decade.

However, supply is still a long way off matching demand and there is no quick fix. However, there are ways to ease competition, improve financial situations, and assist buyers in finding suitable homes at affordable prices.

Relax zoning laws: The severe shortage of affordable homes is a significant barrier for buyers, yet strict regulations stand in the way of a solution. By relaxing zoning laws, lawmakers would allow new construction developers to build at the required scale.
Address wage stagnation: Wage growth slumped by 3.6% between 2022 and 2024, and this downward trend continues. As prices continue to climb and sellers resist dropping their list prices, wage growth is vital to make homes affordable to the masses again.
Improve transparency: Homebuilders have the resources to incentivize and encourage sales. However, buyers often struggle to find information with new home listings frequently falling short, given the majority of new construction homes are not listed on a Multiple Listing Service (MLS). Improving the ease of accessing property information will help to maintain activity in the new construction market.

These changes are urgently needed. Homeownership should be a cornerstone of the American Dream. However, America’s real estate reality is declining mental health, a rise in overcrowded households, and growing rates of homelessness.

What are the experts saying?

Dan Hnatkovskyy, co-founder and CEO of NewHomesMate:

“Supply as demand: it’s perhaps the most fundamental economic principle. Increasing stock reduces competition and prices fall. Fixing the housing market really is that simple. However, convincing developers to build at scale poses a challenge. The reality is, downward pressure on prices costs them, so they need an incentive. If lawmakers relax development laws, making new construction cheaper and easier, builders could maintain margins even as prices fall.”

Sofia Vyshnevska, Co-founder and COO at NewHomesMate:

“The housing crisis is so much more than an economic issue. Behind the figures—annual price growth, housing inventory, and new construction starts—there are millions of people stressing over rent, sacrificing their personal space, and skipping meals to make ends meet. It’s a social issue with costly consequences to health, wellbeing, and relationships. To fix it? Real estate needs to stop thinking solely about profits and start thinking about those suffering.”

Methodology

This report includes data collected from the survey of 2,000 Americans conducted by NewHomesMate researchers and experts. The answers were collected online using the research market provider.

Who are these 2,000 respondents?

Gender:

Female - 43%

Male - 57%

Age:

18-24 – 12%

25-34 – 25%

35-44 – 27%

45-54 – 15%

>54 – 19%

Education:

Middle school - 1.90%

High school - 35.60%

Vocational/Technical College - 15.10%

University - 34.90%

Post-graduate - 12.50%

Income:

Under $25,000 - 25.00%

Between $25,000 and $49,999 - 24.90%

Between $50,000 and $74,999 - 17.20%

Between $75,000 and $99,999 - 12.50%

Between $100,000 and $124,999 - 6.20%

Between $125,000 and $149,999 - 3.40%

$150,00 or more - 7.80%

Prefer not to say - 3,00%

Employment status:

Employed For Wages - 47.10%

Self-Employed - 9.20%

Out Of Work And Looking For Work - 11.60%

Out Of Work But Not Currently Looking For Work - 3.10%

Homemaker - 8.00%

Student - 5.40%

Military - 0.50%

Retired - 9.90%

Unable To Work - 3.60%

Other - 1.60%

US Census region:

West - 17.60%

South - 45.10%

Northeast - 17.00%

Midwest - 20.20%

Unknown - 0.10%

The margin of error in the study is 3%.

Raw data and commentary can be provided upon request.

Sources

1. “Housing experts say there just aren't enough homes in the U.S.” https://www.npr.org/2024/04/23/1246623204/housing-experts-say-there-just-arent-enough-homes-in-the-u-s

2. “Another difficult year for the U.S. housing market” https://ceramicworldweb.com/en/economics-and-markets/another-difficult-year-us-housing-market

3. “Hitting Home: Housing Affordability in the U.S.” https://econofact.org/hitting-home-housing-affordability-in-the-u-s

4. “America's Vast Pay Inequality Is a Story of Unequal Power” https://www.americanbar.org/groups/crsj/publications/human_rights_magazine_home/wealth-disparities-in-civil-rights/americas-vast-pay-inequality-is-a-story-of-unequal-power/

5. “Rents are rising faster than wages across the country, especially in these cities” https://www.cbsnews.com/news/rent-cost-us-2024-housing-national/

6. “How housing affects child development” https://www.habitat.org/our-work/how-housing-affects-child-development

7. “More Americans Can't Afford Their Mortgages” https://www.newsweek.com/us-housing-mortgage-delinquency-rise-fed-rates-impact-transunion-report-1867945

8. “Freddie Mac House Price Index price appreciation from 1990 to 2023” https://www.statista.com/statistics/275159/freddie-mac-house-price-index-from-2009/

9. “US Median Price for Existing Single Family Home (I:USMPESUM)” https://ycharts.com/indicators/us_median_price_for_existing_single_family_home

10. “Homebuyers Must Earn $115,000 to Afford the Typical U.S. Home. That’s About $40,000 More Than the Typical American Household Earns.” https://www.redfin.com/news/homebuyer-income-afford-home-record-high/

11. “U.S mortgage rates soar to highest in more than 23 years” https://www.reuters.com/markets/us/us-mortgage-rates-soar-highest-more-than-23-years-2023-10-25/

12. “Just How Bad Is the US Cost-of-Living Squeeze? We Did the Math” https://www.bloomberg.com/graphics/2023-inflation-economy-cost-of-living/

13. “These states have the highest foreclosure rates in the US” https://www.foxbusiness.com/economy/states-highest-foreclosure-rates-so-far-2024

14. “US Existing Home Sales (I:USEHS)” https://ycharts.com/indicators/us_existing_home_sales

15. “New privately-owned housing construction starts in the United States from February 1968 to May 2024” https://www.statista.com/statistics/184487/us-new-privately-owned-housing-units-started-since-2000

16. “US Housing Starts, Permits Fall Short as Mortgage Rates Rise” https://www.bloomberg.com/news/articles/2024-05-16/us-new-home-construction-rebounds-by-less-than-forecast

17. “Housing affordability is so stretched that fewer than 3% of renters can afford to buy in some markets” https://www.fastcompany.com/91152262/housing-market-affordability-stretched-3-percent-of-renters-can-afford-to-buy-some-markets

18. “How Long Does It Take to Save Up for a Down Payment?” https://www.nytimes.com/2024/06/27/realestate/home-down-payment.html

19. “Crowded Housing in United States” https://www.americashealthrankings.org/explore/measures/crowded_housing

20. “15 States With The Highest Average Home Prices” https://www.forbes.com/home-improvement/features/states-with-highest-home-prices/

21. “Overcrowded Housing Among Immigrant and Native-Born Workers” https://cis.org/Report/Overcrowded-Housing-Among-Immigrant-and-NativeBorn-Workers

22. “Singles are fronting the bill alone in a pricey America — and it’s costing them their savings” https://www.bankrate.com/banking/singles-struggling-to-save-for-emergency-fund/

23. “Living at Home Ain't Such a Drag (on Spending): Young Adults' Spending In and Out of Their Parents' Home” https://www.federalreserve.gov/econres/notes/feds-notes/young-adults-spending-in-and-out-of-their-parents-home-20190205.html

24. “How many homeless people are in the US? What does the data miss?” https://usafacts.org/articles/how-many-homeless-people-are-in-the-us-what-does-the-data-miss/

25. “How Do We End Homelessness?” https://www.bu.edu/cas/how-do-we-end-homelessness/

26. “Average length of time from start to completion of new privately owned residential buildings in the U.S. from 1971 to 2022” https://www.statista.com/statistics/909951/us-construction-of-residential-buildings-average-time/

27. “Millennials and Gen Z say it’s harder to buy a house and get promoted than it was for their parents” https://fortune.com/2023/11/09/gen-z-millennials-difficulties-buying-house-finding-job/

28. “Exploring the Affordable Housing Shortage’s Impact on American Workers, Jobs, and the Economy” https://bipartisanpolicy.org/download/?file=/wp-content/uploads/2024/03/Exploring-the-Aff-Housing-Shortage-Impact-on-American-Workers-Jobs-and-the-Economy_BPC-3.2024.pdf

29. “US salaries are falling. Employers say compensation is just 'resetting' https://www.bbc.com/worklife/article/20240306-slowing-us-wage-growth-lower-salaries

30. “When will the crisis in U.S. housing affordability end—and how?” https://privatebank.jpmorgan.com/nam/en/insights/markets-and-investing/ideas-and-insights/when-will-the-crisis-in-US-housing-affordability-end-and-how

31. “Home truths: How higher costs are reshaping America’s finances” https://newhomesmate.com/blog/higher_costs_reshaping_home_ownership/

32. “The hidden cost of finding a home: How is the housing crisis affecting America’s mental health?” https://newhomesmate.com/blog/mental-health-home-search/

33. “38% of Americans are Not Willing to Pay More for Eco-Friendly Appliances” https://newhomesmate.com/blog/americans-not-willing-to-pay-more-for-eco-friendly-appliances/

34. “Why Do So Many Parents Think Kids Need Their Own Bedroom?” https://www.theatlantic.com/family/archive/2024/05/children-home-solo-bedroom/678354/

35. “How Much Alone Time Do Kids Need?” https://www.theatlantic.com/family/archive/2022/11/kids-need-alone-time-benefits/672209/

36. “Having your own room as a child may be worth 28 minutes of sleep” https://www.sleepfoundation.org/sleep-news/kids-who-do-not-share-bedrooms-get-more-sleep

37. “The Housing Crunch Is Causing Americans To Delay Marriage and Children” https://www.heritage.org/housing/commentary/the-housing-crunch-causing-americans-delay-marriage-and-children

38. “Rents are rising faster than wages across the country, especially in these cities” https://www.cbsnews.com/news/rent-cost-us-2024-housing-national/

39. “Rent Increases Are Softening, but Not Everywhere” https://www.nytimes.com/2023/08/03/realestate/rent-increase-us.html

40. “How housing affects child development” https://www.habitat.org/our-work/how-housing-affects-child-development

41. “U.S. Population Projected to Begin Declining in Second Half of Century” https://www.census.gov/newsroom/press-releases/2023/population-projections.html

42. “U.S. Housing Crisis Only Gets Worse as Population Shrinks” https://www.bloomberg.com/opinion/articles/2021-12-31/u-s-housing-crisis-will-only-get-worse-as-the-population-shrinks

43. “2023 Housing Underproduction™ in the U.S.” https://upforgrowth.org/apply-the-vision/2023-housing-underproduction/

44. “Here's how every US state's population changed in 2023” https://www.businessinsider.com/state-population-growth-declines-map-moving-migration-census-2023-12

45. “Which states have the highest and lowest rates of homelessness?” https://usafacts.org/articles/which-states-have-the-highest-and-lowest-rates-of-homelessness

46. “California Housing Affordability Tracker (April 2024)” https://lao.ca.gov/LAOEconTax/Article/Detail/793

47. “These are the U.S. states with the highest—and lowest—average monthly rent” https://www.cnbc.com/2024/03/07/states-highest-lowest-average-monthly-rent-doxo.html

48. “Mortgage rates reach new high for 2024” https://www.axios.com/2024/04/24/mortgage-rates-high-april-2024

49. “Housing boom in most of the US could ease shortage, but cost is still a problem” https://stateline.org/2024/05/16/housing-boom-in-most-of-the-us-could-ease-shortage-but-cost-is-still-a-problem/

50. “Texas booms with most new homes built in the U.S. since 2010, new report finds” https://houston.culturemap.com/news/city-life/texas-highest-new-home-construction/

Which Home Design Center Options Offer the Best Value?

Dan Hnatkovskyy — Wed, 03 Jul 2024 17:15:00 GMT

Congratulations on starting the exciting process of building your dream home! The next step is selecting the design elements that will bring your vision to life, which can be thrilling for those passionate about interior design. However, choosing the correct elements can be intimidating for those less familiar with interior design.

This is where home design centers come in. Many builders offer these spaces to help homeowners visualize the final appearance of their homes. Buyers can choose various design features, such as flooring, textures, and cabinets, ensuring the result aligns with their preferences and style.

To help you feel confident in this process, we've gathered a list of factors to consider when visiting a design center.

Smart Technology Integration

In recent years, technology has become increasingly prevalent in new-construction homes. What was once deemed a luxury feature is now a standard expectation for many homebuyers. Smart technology contains many devices and systems designed to enhance convenience, energy efficiency, and security within your home.

Some popular tech features to look for include:

Keyless entry locks
Smart thermostats
Water leak detectors
Smart lighting
Smart appliances

When visiting a home design center, inquire about the availability of these and other technology options. Consider the most important features to you and your family, and factor them into your overall budget.

Natural Materials and Sustainable Techniques

The construction industry is a significant contributor to environmental issues, with one study showing it accounts for 50% of climate change, 23% of air pollution, and 40% of drinking water pollution.

In response, many building firms have turned to natural materials and sustainable construction methods. When choosing a design center, consider one that prioritizes sustainable practices. Eco-friendly homes have a higher value and offer long-term savings on operational costs.

Open Floor Plan

To maximize the value of your investment, look for a home design center that offers open floor plans. Studies have shown that homes with open floor plans appreciate by 7.4% annually, making them a wise choice for livability and long-term financial gain.

Open floor plans offer several benefits that contribute to increased home value:

The absence of walls between rooms allows natural light to flow freely.
Open layouts enable you to cook dinner while watching your kids do homework or entertaining guests.
The openness provides ample space for movement, particularly for large households.

Biophilic Design

Choosing a biophilic design that integrates natural elements into your home can increase its value and appeal. This design approach enhances aesthetics, improves air quality, and promotes well-being.

A home design center that offers biophilic design may emphasize the following principles:

Maximizing natural light through blinds, skylights, and light-colored sheers.
Incorporating natural color palettes like earthy tones and rich greens in interior decor.
Installing a living wall and a self-supporting vertical garden will bring nature indoors.

Using Extra Lighting Fixtures

Home design centers often emphasize the importance of lighting in enhancing a space. Proper lighting can brighten a room, improve mood, and increase safety, which is particularly important for homes with elderly residents.

A professional design consultant may recommend the following:

Installing pendant lights over a dining table for targeted illumination.
Incorporating under-cabinet lighting to brighten kitchen workspaces.
Adding wall lights, especially in long hallways, improves visibility and creates a welcoming atmosphere.

Ready to Build Your Dream Home? Jome is Here to Make It Happen

At Jome, we’re thrilled to help you turn your dream of homeownership into reality. Whether it’s finding the perfect lot or teaming up with the right builder, our expert team is here to guide you every step of the way.

Take the first step toward creating a home that’s everything you’ve imagined—and more. Start your journey with Jome today and see how we’ll help you design a place that’s yours!

Discover Your Perfect Move-In-Ready Home in San Antonio, TX

Dan Hnatkovskyy — Tue, 02 Jul 2024 14:42:00 GMT

San Antonio, Texas's second most populous city, offers the perfect blend of big-city features and small-town delight. The city is home to six Fortune 500 companies and provides numerous job opportunities for young professionals. Plus, with a lower cost of living compared to other Texas cities like Dallas, San Antonio is an affordable place to call home.

Strong in history and culture, San Antonio is also conveniently located near three military bases, making it a popular choice for military families. The city attracts residents from all walks of life, from retirees to entry-level professionals.

Has moving somewhere in San Antonio recently crossed your mind? Check out our list of the best new construction move-in-ready homes to simplify your house-hunting journey. Let's dive in!

Comanche Ridge

If you want your children to have access to an excellent education, Comanche Ridge is a great choice. This community of single-family homes is only a 13-minute drive from the top-rated Northeast Independent School District, making it perfect for families with school-aged kids. It's also conveniently close to Ft. Sam Houston and Randolph Air Force Base, making it ideal for military personnel.

NewLeaf Homes, the builder, offers a variety of properties ranging from 1,914 to 3,470 square feet. Each home features modern technology like a programmable thermostat, SkyBell Slimline HD Video doorbell, and the Qolsys IQ2 panel. Prices start at $466,900.

Skybrooke

Do you dream of living in a trendy, lively neighborhood? Skybrooke by View Homes is the perfect choice. This community offers plenty of entertainment options, including Woodcrest Park, the Community Pond, and Live Oak City Park. For adrenaline junkies, Retama Park Horse Racetrack and Morgan'sMorgan's Wonderland provide thrilling experiences.

Skybrooke offers an assortment of ranch-style and 2-story homes to suit different family needs. With seven floor plans, each home averages $399,999 and ranges in size from 1,705 to 2,487 square feet.

Royal Crest

If location is your top priority when moving to San Antonio, Royal Crest is the place for you. This community sits in the northeastern part of the city near Weidner Rd., which offers easy access to Randolph Air Force Base, Ft. Sam Houston, Loop 1604, and IH 35.

Royal Crest features a variety of cafes, restaurants, recreational options, and shopping centers like Ikea and The Forum. Families will appreciate the short drive to the Northeast Independent School District. Kids will have plenty of weekend fun with parks, playgrounds, and walking and hiking trails nearby. Only one move-in-ready unit is available for $433,900, so act fast if you plan to move here!

Horizon Pointe

Just minutes from Loop 1604, IH-35, and IH-10, Horizon Pointe is one of the most affordable places to live in San Antonio. With prices starting at $374,900, it's perfect for budget-conscious buyers.

Despite its affordable pricing, Horizon Pointe offers plenty of benefits. It's within distance of various shopping, dining, and entertainment options, including the Walmart Supercenter. Residents can enjoy walkable amenities like a swimming pool, community park, and play structure.

Outdoor lovers will enjoy the jogging and cycling trails throughout the neighborhood. Additionally, Horizon Pointe is home to the highly acclaimed Wagner High School, making it an excellent choice for families seeking quality education.

Jordan's Ranch

Do you want a community that balances a peaceful ambiance with city life? Jordan's Ranch is the perfect choice. It is strategically positioned just off Highway 281 and Loop 1604, providing quick access to Downtown San Antonio. Enjoy fine dining, art galleries, and iconic landmarks, all within easy reach.

This neighborhood offers one- and two-story homes on a spacious half-acre lot. Homes range from 1,322 to 2,848 square feet, and five move-in-ready units are available starting at $327,490.

Hunters Ranch

Is northwest San Antonio on your radar? If so, Hunters Ranch should be at the top of the list. This friendly and affordable neighborhood is located near US-90 and Highway Loop 1604. It offers a small-town vibe with easy access to various entertainment options, including a swimming pool, playground, jogging, hiking, and biking trails.

Hunters Ranch is a master-planned community by M/I Homes featuring eight different one- and two-story floorplans ranging from 1,414 to 2,582 square feet.

Find Your Move-In-Ready Home in San Antonio with Jome!

Finding a new home in San Antonio is an exciting adventure, and Jome is your trusted guide every step of the way. Our commitment to new construction means we can help you find the perfect move-in-ready home that is tailor-made for you.

Let's start this incredible homeownership journey together! Start your search to view new communities, and we'll work hand-in-hand to make your dream a reality. Whether you prefer to chat over the phone, meet for a coffee, or explore our website, our experts make the process as smooth and joyful as possible.

Your perfect new home in San Antonio is waiting!

Five Websites to Find Your Perfect Move-In-Ready Home Location

Sofia Vyshnevska — Mon, 01 Jul 2024 16:32:13 GMT

Imagine moving into a home that's already painted, with a kitchen that's ready for you to cook your first meal and a bathroom that's clean and functional. That's the beauty of a move-in-ready home.

The allure is irresistible. Buyers love the idea of settling in immediately, without the countless decisions and headaches of building from the ground up. Plus, depending on your location and budget, a move-in-ready home may be more affordable than a custom build.

However, finding the perfect move-in-ready home that checks all your boxes can feel like searching for a diamond in the rough. But fret not, as these powerful online tools are here to simplify your search and guide you toward the home of your dreams. In this article, we'll explore five indispensable websites that can make your homebuying journey a breeze.

U.S. Census Bureau

The U.S. Census Bureau is a reliable source to find demographic and economic information when buying a move-in-ready home. The site has tools like the American Community Survey (ACS) and QuickFacts, which provide accurate and easy-to-read data about states, counties, and cities. You can also use apps like the Census Business Builder and My Community Explorer to view maps and charts that show important details about neighborhoods.

Bureau of Labor Statistics

Visiting the Bureau of Labor Statistics (BLS) is necessary if you're interested in a change of scenery to advance your career. The site features tools like the Occupational Employment and Wage Statistics (OEWS) and the Local Area Unemployment Statistics (LAUS). These tools give you easy access to information about job types, salaries, and unemployment rates in various regions, helping you choose a place with a strong economy and good job prospects.

NeighborhoodScout

When it comes to finding the perfect home, safety is often at the top of everyone's list. NeighborhoodScout is a powerful tool for making sure your new home is in a safe area. With interactive maps and detailed neighborhood reports, you can easily spot crime hotspots, find top-rated schools, and track real estate trends. These features allow you to compare neighborhoods side-by-side, helping you understand the true character of different areas.

GreatSchools

If you have kids, GreatSchools is an indispensable resource for finding neighborhoods that provide the best education. The site provides comprehensive school ratings, reviews, and interactive maps, making it easy to compare K-12 schools across different neighborhoods. By using GreatSchools, you can select a home in an area that offers top-quality educational opportunities, setting your children up for future success.

Numbeo

Numbeo is a unique resource for homebuyers looking to understand the true cost of living in different areas. This site offers user-contributed data on everyday expenses such as groceries, rent, and utilities, giving you a realistic picture of what living in a particular city will cost. Additionally, Numbeo provides insights into crime rates, healthcare quality, and pollution levels based on contributions from users worldwide.

Jome

As a homebuyer, you know that finding the perfect move-in-ready home can be draining. Jome is a fantastic resource for anyone purchasing a newly built home. The site offers a comprehensive database of new homes, allowing you to search, find, compare, and buy new construction properties. It includes detailed information about different communities, builders, and available home plans, making it easier to find the perfect match for your needs.

One of Jome's standout features is its user-friendly comparison tools. These tools let you compare homes and communities side-by-side, view builder incentives, and access detailed cost breakdowns to avoid any surprise expenses. The platform also provides personalized support from new home experts who guide you through the entire buying process, from the initial search to move-in day, ensuring a smooth and informed homebuying experience.

Ready to find your dream home? Start your search to explore and compare the best new construction homes in your desired area and find your perfect move-in-ready home now!

Your Guide to the Top-Rated Home Builders in Sanford, NC

Dan Hnatkovskyy — Fri, 28 Jun 2024 00:57:00 GMT

Sanford, NC, is a charming suburb located 45 minutes southwest of Raleigh. It's the perfect blend of small-town vibes and modern convenience. One of the best things about Sanford is its location. It's right in the heart of North Carolina, so you have easy access to major highways and the Research Triangle. Plus, when you're in the mood for a bit of adventure, you can take a day trip to cool spots like Uwharrie National Forest.

Are you dreaming of settling down in Sanford? Whether you want to buy or build, this charming town has options for everyone. If you're eager to create your perfect home from scratch, get ready to meet five of Sanford's most skilled and trusted home builders.

HHHunt Homes LLC

If you're looking for a home builder in Sanford with a rock-solid reputation, HHHunt Homes should be on your radar. Established in 1992, they have decades of experience and a track record of delivering top-notch construction services.

When you choose HHHunt Homes, you can be confident that you're investing in a high-quality home that perfectly balances style, durability, and affordability. This builder is well-known for their ability to incorporate cutting-edge designs and premium materials into every project while keeping prices ideal for first-time homebuyers.

Available Communities

Townes at Central Square - Starting at $280,000
Iron Pines - Starting at $331,990
Watson Woods - Starting at $385,00

Weaver Homes

Weaver Homes Inc. has been crushing it in the quality design and construction game since 1980. That's over four decades of delivering dream homes to countless happy buyers. And let me tell you, their dedication to value and quality hasn't wavered one bit in all that time.

Whether you're looking for a "production" or spec home, they have you covered, or if you want to go all-out with a custom-designed masterpiece from their Weaver Homes Platinum collection.

Not only do they build incredible homes, but they also offer a bunch of move-in-ready options that won't break the bank. You can score a Weaver home that's both stunning and affordable. It's like hitting the home-buying jackpot!

Available Communities

Sweet Gum Meadows - Starting at $299,800
West Preserve - Starting at $359,900
Briarwood Bluff - Contact for price

Smith Douglas Homes

Smith Douglas Homes may be one of the newest companies to set up shop in Sanford but don't let that fool you. The masterminds behind this firm have been in the game for over 40 years and have earned a stellar reputation for delivering more than 10,000 housing units. Homeowners can't stop raving about their top-notch craftsmanship, clever use of resources, and prices that won't make your wallet cry.

When you build with Smith Douglas Homes, you're in the driver's seat. Want to pick out your dream kitchen cabinets or create the perfect layout for your living room? No problem! You can swing by one of their design centers or hop online and use their Interactive Home Designer tool. It's like having your very own interior design genie at your fingertips.

Available Communities

Brantley Place - Starting at $290,900
78 South - Starting at $292,900
Briarwood Bluff - Contact for price

Adams Homes

Founded in 1991 by Wayne Adams, Adams Homes has a remarkable success story. Starting with just three floor plans and a goal of building 25 to 50 homes annually, Adams quickly surpassed his expectations.

In just over three decades, the company has delivered over 50,000 homes, cementing its position as a leading home builder in the southeastern region. Adams Homes' rapid growth and long-standing commitment to quality have made it a trusted name among homebuyers seeking their dream homes.

Available Communities

Southern Estates - Starting at $342,100
Cameron Woods - Starting at $374,900

ExperienceOne Homes, LLC

With over 3,000 one-of-a-kind homes in the Triangle area, ExperienceOne Homes has proven time and again since 1978 that they know how to create stunning and functional spaces.

They don't just slap together some walls and call it a day—every home they build is a work of art. Their serious commitment to excellence has earned them more design and marketing awards than any other home builder in Raleigh. That's right—they're basically the Beyoncé of the home-building world.

More importantly, it's one of the few companies that uses green building practices. ExperienceOne Homes relies on an ecoSelect program, which considers crucial features like water efficiency, energy efficiency, and high indoor air quality. Thanks to this, it delivers environmentally friendly and highly efficient homes.

Available Communities

Autumnwood - Starting at $417,290

Start Your Search for a Home Builder in Sanford, NC with Jome!

Picking the right home builder can be a tough decision. But don't worry—you're not alone! Our incredible team at Jome is here to help you navigate the Sanford real estate market and give you the inside scoop on choosing the perfect builder for your dream home.

Whether you're curious about a specific builder's reputation, want to know more about the local housing market, or need some general advice on the home-buying process, our experts have you covered. They'll listen to your needs and preferences and help you find the best community.

With Jome on your side, you'll be one step closer to unlocking the door to your perfect home in Sanford. Start your search today, and let us help you turn your homeownership dreams into a reality!

The Best Master-Planned Communities in Charleston, SC

Dan Hnatkovskyy — Thu, 13 Jun 2024 20:22:00 GMT

Discover Where Luxury Living Meets Southern Charm in Charleston, SC. Discover some of our Expert's favorite communities.

Ranked the oldest city in South Carolina, Charleston’s past is visible everywhere you look. The candy-colored houses in Rainbow Row, bluestone sidewalks, and Victorian-style architecture are proof of its deep history.

Now, it’s one thing to visit Charleston. But what’s it like to live here? Chances are, you will love it just as much. For one, it experiences subtropical weather for most of the year. It also has a strong job market, with an unemployment rate of only 2.9% in 2022. Charleston’s small-town charm and friendly locals are other reasons people move into this town.

Are you thinking of relocating to Charleston? If you are, here are the top five master-planned communities worth exploring:

Grace Landing

Grace Landing is the ultimate pick if you’re looking for a quiet and peaceful neighborhood. Located in the heart of Johns Island, this community offers a tranquil and natural setting—perfect for raising a family.

Grace Landing comprises 76 homesites, nine of which are on one-acre plots. Prospective homeowners can choose between one- and two-story homes, ranging from 1,858 to 2,930 square feet. And thanks to the fiber network connectivity, you’ll enjoy ultra-fast Internet services.

Every home will also have standard side-entry garages with the option to add a third one for extra parking. Meanwhile, recreational opportunities include a community pool, walking & hiking trails, and a pavilion with a deck for outdoor gatherings. Prices start at $498,990.

Point Hope - Village Collection

Enjoy the Lowcountry lifestyle in this vibrant community across the Wando and Cooper Rivers. The neighborhood will offer parks, trails, and spacious one—and two-story homes starting at $644,990.

Buyers can choose from five plans to get a truly customized home. Each home will have an incredibly spacious layout, ranging between 2,426 and 3,348 square feet. These houses contain three to four bedrooms and two and a half to three and a half bathrooms.

Hayes Park

Hayes Park is a unique master-planned community that blends Island charm with modern living.

Set in the heart of Johns Island, two-story homes and villas are thoughtfully built around a central marketplace. These properties start at $607,500.

Thanks to this neighborhood’s layout, most amenities are within walking distance. You can check out a new book from the John Islands Library in the morning. And in the evening, you can buy your favorite wine from Somm Wine Bar.

Choose from seven carefully designed floor plans to find a home that suits your preferences and needs. With sizes ranging from 1,378 to 2,431 square feet, these homes offer various options to accommodate different lifestyles. Each floor plan features two to four bedrooms and two and a half bathrooms, providing generous space and comfort for you and your family.

The Bluffs at Pinefield Townhomes

The Bluffs master-planned community is a paradise for water lovers. It’s conveniently located near the Cooper River, offering easy access to water sports. Whether you want to swim during the day or fish during the weekend, this neighborhood provides seamless accessibility.

That said, this community is not only great for water enthusiasts. It’s ideal for anyone who wants to get the best value from their investment. That’s because it has massive and stylish three-story townhomes priced at a reasonable $544,910.

The homes vary from 1,906 to 2,486 square feet and contain three bedrooms and three and a half bathrooms. More importantly, they’re equipped with dreamy features like high ceilings, smart appliances, kitchen islands, covered patios, a fireplace, and a bathtub in the primary.

Find Your Perfect Community in Charleston, SC with Jome!

Making Charleston your home is exciting, but choosing the right neighborhood can feel overwhelming. That’s where Jome comes in! Our experts have done their homework on Charleston’s communities to help you discover the one that fits your lifestyle like a glove.

Whether you’re after a peaceful suburban hideaway or a busy urban hotspot, we’re here to match you with the neighborhood of your dreams. Start your search with Jome today, and let’s make your dream home a reality.

Your next chapter in Charleston is calling!

Discover Charleston, SC's Best Homeownership Programs

Sofia Vyshnevska — Wed, 12 Jun 2024 13:17:00 GMT

Are you thinking about creating a new life in Charleston, SC? If so, you’re in for a real treat. The city offers a prime coastal setting with a thriving economy and tight-knit community. Furthermore, it has a strong history, with landmarks like Fort Sumter and the Boone Hall Plantation.

Evidently, the city has no shortage of natural attractions. However, buying a home in Charleston can be a pricey business. Based on the latest data, the median price of a home is $540,000, presenting a challenge for homebuyers on a tight budget.

To help you out, this article lists several homeownership programs available to Charleston residents. If you qualify, you’ll receive financial aid for a down payment, closing costs, and other expenses associated with buying a home.

Charleston Homeowner Initiative (HI)

The HI program was created to make homeownership affordable, particularly for low-to-moderate-income households. It achieves this by offering downpayment and closing cost assistance.

The City of Charleston partners with several other agencies to implement this program. Due to this, the terms and amounts provided by each participant vary.

Also crucial to note is that this program is only for households living in these five neighborhoods: Cannonborough, the West Side, the East Side, Elliotborough, the H, F & I streets, and the Rosemont Community.

Eligibility

You should be a first-time homebuyer- ideally, you should not have owned any property within the past three years.
The property you’re looking to buy should become your primary residence.
You should be financially capable of qualifying for a mortgage.
You’ll need to pass a background check.
Your household income should range between 50% and 120% of the Area Median Income as adjusted for households. These guidelines published by the HUD are as follows:

Department of Housing and Urban Development Income Guidelines

Number of Members in Each Household	Income Threshold
1	$81,720
2	$93,360
3	$105,000
4	$116,640
5	$126,000
6	$135,360
7	$144,720
8	$154,080

Charleston Habitat for Humanity (CHFH)

Qualifying for conventional mortgage programs can be a hard nut to crack. This is where organizations like the CHFH come in handy. With the Homeownership Program, interested homebuyers put in some sweat equity by helping to construct or restore homes for other families.

Ultimately, this qualifies them to receive aid in building their own. Applicants who are eligible receive a zero-interest, affordable mortgage. Besides, the property's purchase price is significantly below the market rates thanks to the sweat equity put in by volunteers.

Eligibility

You should be financially capable of paying the Habitat mortgage and housing needs.
Be ready to partner with the organization by committing to 400 hours of sweat equity.
Should be a first-time homeowner.
Should have lived in one of these three areas for the last six months: West Ashley, North Charleston, or downtown Charleston.

The Veterans Build

The Charleston Habitat for Humanity offers yet another program tailored for veterans. The Veterans Build helps honorably and generally discharged officers and retired veterans own a home.

Apart from the military association, you should earn a gross annual income between 35% and 80% of the Area Median Income. Participants also need to complete at least 350 hours of sweat equity.

South Carolina Housing Homeownership Program

The South Carolina State Housing Finance and Development Authority's (SC Housing) Homebuyer Program assists low-to-moderate-income families and individuals by offering either a fixed-interest rate mortgage loan or down payment assistance based on availability (funds may also be used to pay closing costs).

Since Charleston is a non-targeted area, the borrower must be a first-time homebuyer or not have had ownership interest in a principal residence three years before the loan is closed.

FHA loans:
Requires a 3.5 percent down payment
Maximum Loan-to-Value is 96.5 percent of the lesser of the sales price or appraised value
Minimum credit score is 620
97% Conventional loans:
Requires a 3 percent down payment
Maximum Loan-to-Value is 97.0 percent of the lesser of the sales price or appraised value
Reduced mortgage insurance requirements
Minimum credit score is 640
100% LTV USDA RHS loans:
Minimum credit score is 640
100% LTV VA loans:
Minimum credit score is 640
The Loan Term is 30 years
Down payment assistance and second mortgage loans are available to qualified buyers.
Borrowers must meet the qualifications for the first mortgage under SC Housing's programs to be eligible for any second mortgage product.
All recipients of down payment assistance (DPA) must complete a homebuyer training course before loan approval.

Find Your Perfect New Home in Charleston, SC with Jome!

The housing market can feel like a maze, but with Jome by your side, it doesn’t have to be. Our team of experts is dedicated to taking the stress out of homebuying and giving you the confidence you need to make your dream a reality.

With unmatched knowledge of Charleston, we don’t just understand the market—we understand you. We tailor the search to your vision. Plus, we simplify every process step and provide access to exclusive new properties and communities you won’t find elsewhere.

Why waste time searching alone? Start your journey with Jome, and let us guide you to your perfect home in Charleston!

Builders Respond to Affordability Crisis with Smaller Homes

Dan Hnatkovskyy — Mon, 10 Jun 2024 20:07:00 GMT

Since the beginning of 2023, home prices have risen at unprecedented rates. This, coupled with the dwindling number of available units, has encouraged many prospective homeowners to look to new construction for a solution.

Unfortunately, many home builders have found themselves in a catch-22 situation. While they wish to create more units to meet the demand, rising labor and material costs make this challenging.

However, there is a solution that might work for everyone: smaller homes.

In a recent survey, we asked, "Would you consider any of the options below to get a better price for the house?" A staggering 69% of respondents revealed they would be open to sacrificing square footage and opting for a smaller home to secure a more affordable price point.

As the survey results indicate, many buyers are ready to think outside the box and consider creative solutions to find a home that fits their budget and lifestyle. The desire for affordable housing is a driving force in builders' response to the market. This article explains more about the shift towards building smaller homes.

How Shrinking Home Sizes Are Reshaping the Housing Market

The latest census data shows that the median size of a home decreased by a whopping 4% within a year. In 2022, the average size of a single-family home was estimated at 2,269. By the end of 2023, it had decreased to just 2,179 square feet for a similar structure. It is interesting to note that this size shrinkage was implemented in various home styles, including townhomes.

Townhouses, which accounted for 20% of new homes under construction by the end of 2023, also registered a decrease in size. Builders are now constructing smaller townhouses with fewer windows, doors, and cabinets.

Reducing the average size of homes may seem like a drastic measure. However, this strategy has yielded benefits for both home builders and buyers.

On one hand, it’s allowed home builders to save on construction and labor costs, making these new units more affordable. On the other hand, buyers have been able to afford new homes due to the cheaper pricing.

For instance, D.R. Horton—ranked as America’s top home builder—sold over 82,000 units last year, costing less than $400,000. The size of the homes they offer now starts at 900 square feet.

On the other end of the spectrum are luxury home builders like the Toll Brothers. This company is known for its high-end properties, which average $1 million in pricing. After adopting the new trend of constructing smaller and more affordable luxury homes, the firm earned more than twice its sales in the past year. Some of these homes were priced as low as $400,000.

What’s the Impact of Building Smaller Homes?

The most notable benefit from this shift is that homes will become more affordable. This makes the homeownership dream for many Americans much closer. But other than this, there are secondary benefits to building smaller, such as:

Reduced Carbon Footprint

Bigger homes require more resources to construct and maintain in the long run. They need more energy to heat and cool. Smaller homes, however, are more energy efficient, as they consume significantly less energy in heating and cooling applications.

Statistics show that residential energy consumption accounts for 20% of greenhouse emissions, so building smaller homes can reduce their environmental impact.

Different Home Layouts

Most builders have embraced the concept of smaller homes with open arms. But they’ve had to make considerable changes in home designs to achieve this.

In the past, it was common to see homes with separate kitchens, dining areas, and living areas. Older homes often feature more walls and separation between rooms.

With smaller homes, builders have resorted to offering fewer rooms. One big, multifunctional kitchen has replaced the individual kitchen, dining, and living room setup. Most of these properties also have fewer bedrooms and bathrooms.

Quality Construction Homes

As previously mentioned, one of the most significant benefits of building smaller homes is that they’re cheaper. Moreover, builders can use premium-quality materials without blowing up their budgets.

Are you planning to install subway tiles in a bathroom? You can choose the best option as you only need a few pieces to fill the space.

On the same note, this allows homeowners to spend extra on luxury items that would otherwise be unaffordable. You can get those gorgeous lighting fixtures you want since you’re only decorating a few rooms. That doesn't mean you should skip the inspection.

Unlock Your Dream Home with Jome

If you're looking for a brand-new home that won't break the bank, it's time to think outside the box—or, rather, inside a smaller one! So, how do you make this dream come to life? It's easy with Jome!

Don't waste another minute scrolling through endless listings or driving around. Let Jome be your guide to the home of your dreams. Start your search and use our nifty search filter. You can narrow your options by square footage, location, and more.

When you're sipping your morning coffee in your new house, you'll be glad you took the first steps!

The Pros and Cons of Buying a Vacation Home in St. Augustine, FL

Dan Hnatkovskyy — Thu, 06 Jun 2024 19:18:00 GMT

St. Augustine might be the perfect spot if you're considering investing in a vacation home. Imagine having your own little slice of paradise in this gorgeous city—pretty tempting, right?

Before you envision yourself sipping margaritas on your beachfront balcony, it's crucial to take a closer look at what owning a vacation property in St. Augustine involves. Don't worry; we've got you covered.

In this article, we'll dive headfirst into the nitty-gritty of investing in St. Augustine's vacation homes. We'll explore the perks that'll have you grinning from ear to ear and the potential drawbacks that might make you scratch your head. By the end of this piece, you'll have everything you need to decide whether a St. Augustine vacation property is the right move for you.

Pros

Thriving Tourism

Along with the beaches, great weather, and rich history, getting to St. Augustine is a breeze! Whether you're coming from within the U.S. or flying in from another country, you'll find that this hidden gem is super accessible. If you're coming from Jacksonville or Orlando, you're just a short drive from this coastal paradise. Some of the most popular tourist hotspots are:

The cost of staying in hotels and resorts can add up quickly. As such, most tourists prefer to rent out vacation homes where they can stay long-term without breaking the bank. This area receives millions of visitors year-round, allowing you to rent your home when you're not in town.

Subtropical Climate

You're in for a treat if you crave sunny days and mild temperatures. St. Augustine is blessed with over 200 days of sunshine each year. During the summer months, the air is warm and a bit on the humid side. It's the perfect excuse to dip in the ocean or lounge by the pool. And when winter rolls around, you can leave your heavy coat at home because the temperatures remain mild.

If you're considering buying a vacation home in St. Augustine, this is music to your ears. With such a desirable climate, you have a golden opportunity to attract sun-seeking snowbirds by offering them a home away from home, where they can bask in the warmth and forget about the frosty weather back north.

And here's a little insider tip: if you go above and beyond with your hospitality and create an unforgettable experience for your guests, you might find yourself with a loyal crew of regulars who come back year after year.

Strong Rental Market

The rental market in St. Augustine is booming! This town is like a magnet, attracting folks from all walks of life. You have college students, ambitious entrepreneurs, and retirees looking to enjoy their golden years in peace.

So, what does this mean for property owners and builders? They have to step up their game and offer a smorgasbord of property types to cater to this diverse crowd.

The median sale price of a home in St. Augustine skyrocketed to a whopping $508,000 in March 2024, a 37.2% increase from the previous year. Like many coastal cities, prices are continuing to rise. Prices all depend on the neighborhood you choose. If you're eyeing those historic areas, be prepared to dish out a little extra cash. But if you're open to exploring the outskirts, you might find homes in unexplored corners at a more wallet-friendly price point.

If you're toying with the idea of snagging a vacation home in St. Augustine, now might be the perfect time to make your move. With a solid rental market and the potential for appreciation, you could be setting yourself up for an investment that'll make your friends green with envy.

Cons

Congestion

Like most cities in Florida, St. Augustine's population and tourism have increased in recent years. This is not surprising, considering all the positive things it offers. The bad news is that this stresses the city's available infrastructure.

Traffic congestion might not be as bad as in New York and other crowded cities. But it's a big issue in St. Augustine's older towns, which tend to have narrow streets and poorly developed infrastructure.

Heightened Risk of Extreme Weather Conditions

One risk of properties close to the ocean is exposure to hurricanes and tropical storms. In the past, St. Augustine has experienced several instances of extreme weather and flooding. The most recent occurrence was Hurricane Ian in September 2023.

St. Augustine still felt its wrath even though it lost some of its punch and was downgraded to a tropical storm as it churned across the state. Mass flooding hit the city hard, leaving residents stunned and struggling to cope with the aftermath. Based on this, expect insurance rates on vacation homes to be pricier than those in less weather-prone regions. Some insurers have been leaving the state altogether, so it's critical to check on insurance before signing the dotted line.

Backlash on Short Term Rentals

If you plan to finance your home in part with revenue from short-term rentals like AirBnB or HomeAway, you may want to pause for a few months while the courts sort out the contentious new laws regarding rental properties in the state. Several laws are pending that could make it much more accessible or challenging to rent out properties in the future, depending on the outcome.

Find a New Construction Home in St. Augustine with Jome!

Buying a new home in St. Augustine can be exciting and a little overwhelming. But guess what? You don't have to go on this adventure alone!

That's where Jome comes in. We're here to be your trusty sidekick, helping you find the perfect new construction home to call your slice of paradise in St. Augustine.

Think of us as your real estate matchmakers. We'll listen to your wants, needs, and dreams and work magic to find the ideal match. Whether you're looking for a cozy bungalow near the beach or a spacious family home in a friendly neighborhood, we've got you covered.

So, why stress yourself out trying to do it all alone? Let us take the weight off your shoulders and make the process a breeze. All you have to do is start your search, and we'll guide you every step of the way.

Dream Home or Pipe Dream? Understanding Homeownership in Today's Market

Dan Hnatkovskyy — Wed, 05 Jun 2024 22:27:00 GMT

The emotional fulfillment that comes with owning a house is incomparable. Homeownership provides stability and financial security and creates a sense of belonging and pride.

While the appeal of homeownership is undeniable, the current housing market presents some significant challenges. Home prices have reached unprecedented levels, mortgage rates have surged, and the availability of affordable homes has significantly decreased. This article offers a thorough insight into what it means to buy a house in today's market.

The Cost of Owning a Home: Expectation vs. Reality

Before browsing listings and scheduling open houses, pause for a reality check. Ask yourself, "How much money do I need to buy a home in today's market?" Buckle up because the answer might come as a shock. We decided to test this question by surveying 1,000 people about their expectations for single-family home prices. Believe it or not, more than half of our respondents thought they could snag a single-family home for less than $250,000. That's right—in a market where prices have been soaring, most people we surveyed were hoping to find a bargain.

Here's a chart showing the results from our survey:

Acceptable price for a single-family home	Number of respondents
Less than $250,000	54.38%
Less than $500,000	29.88%
Less than 750,000	9.36%
Less than $1,000,000	4.38%
More than $1,000,000	1.99%

Our findings are unsurprising, given that most people's incomes have not increased to match rising housing costs. The latest data from the Bureau of Economic Analysis (BEA) shows that personal income increased by a mere 0.5% in March from the previous year. As of March, the median price of a home was $420,321 compared to the $329,000 median price recorded just four years ago.

This rapid price increase has made owning a home a far-fetched dream for many potential buyers. Our survey shows that 34.86% of Americans think they'll never be able to afford a home, while 18.13% are uncertain.

How to Afford a Home in the Current Market

Despite everything happening in the real estate market, there are still strategies to help you buy your dream home. Here are a few tips to help you maneuver this market:

Buy Smaller

Even though you may wish to own a large home, it might not be affordable in the present market. Rather than spending a long time saving enough for a bigger house, look for a smaller one that fits your budget. You can always upgrade to a bigger property with the equity from your first home.

Pay Off Present Debts

High debt levels, such as student loans and car payments, strain your finances and limit your ability to secure a mortgage. Lenders carefully evaluate your debt-to-income ratio when determining your eligibility for a home loan. If you're carrying a substantial amount of debt, lenders may be reluctant to approve you for a mortgage, or they might offer you a lower amount or a higher interest rate.

Prioritizing paying off your existing debts will improve your chances of qualifying for a mortgage and securing better terms. This demonstrates to lenders that you have the financial capacity to take on a mortgage and make your monthly payments.

Search for New Homes Under Your Budget

In 2024, the seller's market continues to dominate, and this trend extends to the new construction. The demand for newly built homes remains high, while the supply of affordable options is limited. As a result, builders and developers often receive multiple offers on their properties, giving them the upper hand in negotiations.

As a homebuyer interested in new construction, one of the best strategies is to focus your search on homes priced below your maximum budget. By setting your sights on affordable properties, you give yourself the flexibility to engage in bidding wars without stretching your finances too thin or resorting to alternative funding sources that may come with unfavorable terms.

Let Jome Take the Lead

Don't let the housing market challenges hold you back any longer. Jome can help you find your dream home! Our team of experts will be by your side during the whole process, from the initial search to closing the deal on your perfect home.

We'll provide expert advice, negotiate on your behalf, and guarantee you have all the information you need to make educated decisions. Together, we'll find the new construction home that exceeds your expectations and sets the stage for a bright future. Explore new homes today!

What the NAR Settlement Means for Buying a New Construction Home

Dan Hnatkovskyy — Mon, 03 Jun 2024 22:13:30 GMT

In April, the real estate industry reached a pivotal turning point when a federal judge approved a major class-action antitrust settlement with the National Association of Realtors (NAR). Announced on March 15th, the decision forces the NAR to compensate a class of home sellers who filed a lawsuit for $418 million.

This groundbreaking ruling is set to revolutionize the traditional model of real estate commissions. Now that the dust has settled it’s time to understand the potential impact on the new construction market, given that many real estate professionals predominantly serve buyers.

One note, as of now, the final rules have not been approved by the court, so all of these changes are speculative.

The NAR Settlement Explained

In most real estate transactions, the selling party offers a 5% to 6% commission. This commission is then split between the seller's and buyer's agent. The buyer's agent often receives a 2.5% to 3% commission.

All these details were indicated on the property listing, meaning the buyer's agent knew how much compensation they would receive from the start. However, proponents argued that this approach was biased because sellers who could not afford to pay the buyer's agent high commissions received low-grade services.

There have been concerns that real estate brokers might not show properties to clients if the commission offered by the seller's broker is lower than average or deemed insufficient, potentially limiting the exposure of properties to potential buyers.

In addition, sellers would have to increase the asking price of their homes to cover the cost of high commission rates, leading to inflated home prices, as sellers aim to net a certain amount from the sale after paying the brokerage fees.

According to the new settlement, the seller doesn't have to pay the buyer's agent any commission. The seller will only have to pay their broker the usual 2.5% to 3% commission. Because of this, most buyers' agents will ask their clients to sign a contract, agreeing to pay them a fixed fee or a percentage of the sales price.

The Settlement's Implications on the New Home Buying Process

The settlement's approval is great news for property sellers, as they don't have to pay much commission.

But what are the effects on new construction home buyers? As new construction continues to grow it is important to understand how this will affect buyer. This recent policy brings about positive and negative consequences, as explained below:

The Bad

While the NAR settlement has created a level playing field for buyers and sellers, it's also triggered a few challenges.

For one, buyers must dig deeper into their pockets to finance their agents' commissions. According to the existing guidelines, real estate commissions cannot be incorporated into mortgage loans. Therefore, buyers with tight budgets may have to apply for personal loans to finance this expense.

You could resort to a personal loan, which has higher interest rates than mortgages and raises your debt-to-income ratio. If this ratio is too high, it may disqualify you for a mortgage. The alternative is to forego hiring a broker and do everything solo. However, first-time buyers who resort to such a DIY approach could make costly mistakes.

Remember, an agent offers assistance in several areas, including negotiating inspection items, examining contracts, and securing the best financing terms. If you don't have adequate experience in such matters, it's wise to enlist help from an agent.

The Good

On one hand, it gives buyers more control when setting brokerage fees. With sellers taking a step back, it's up to the buyers to decide the amount they'll pay their agents.

Due to this, there will likely be changes in how agents charge fees. Some will resort to hourly fees, while others prefer a flat fee. Some agents may decide to charge their clients for every showing. Whatever the payment method, this gives homebuyers a wider pool of agents to select from.

The good news for home buyers is that technology can significantly expedite your search for the right real estate agent. Using specialized real estate platforms and tools, you can quickly match with agents who satisfy your needs, save time, and guarantee a smoother house-hunting process.

For instance, you can use Jome to find the latest new construction listings. Our platform connects you to experts in your preferred area, who can help make your search more effortless by filtering through our extensive real-time data set on your behalf.

Our Experts have the inside scoop on their local market, including current inventory, upcoming developments, and builder incentives. Their expertise can be priceless when buying a new home, especially as the industry adapts to the evolving commission structure.

Partner Up with Jome

Jome's user-friendly interface and comprehensive database give you access to various options tailored to your needs and preferences. Whether house-hunting for the first time or an experienced investor, our platform helps you to make educated decisions and find the perfect new construction home.

As the real estate industry undergoes this transformative shift, leveraging the resources and expertise provided by Jome and our network of local experts will be key to success in the new construction market.

Start your search, and let's work together to make the process smooth and joyful!

Homeownership Programs That Make Housing (A Bit) More Affordable in Atlanta, GA

Dan Hnatkovskyy — Thu, 30 May 2024 21:26:00 GMT

Are you dreaming of owning a home in the heart of Atlanta but feeling like it's impossible right now? You're not alone. With the median price for homes soaring to a jaw-dropping $430,000, signing on the dotted line for a mortgage can feel like a pipe dream.

But wait, don't lose hope just yet! The city of Atlanta has a few tricks up its sleeve to help make your homeownership dreams a reality. Many of these programs ease the financial burden of buying a home, making the process much more achievable.

What are these magical programs, you ask? Well, get ready to take notes because you're about to dive into three incredible homeownership programs that are ready and waiting for you to apply. Grab your homebuyer hat, snatch a pen, and explore how you can buy a house in Atlanta!

Georgia Dream Home Ownership Program

This Georgia Dream Homeownership Program makes homeownership affordable by offering assistance with purchase price, down payment, closing costs, and homebuyer education. Eligible applicants receive 5% of the home’s purchase price or up to $10,000 (whichever is smaller). However, you can receive up to $12,500 if you fall into one of these three categories:

Residents whose family members are living with a disability
Healthcare personnel and educators
Public protectors

Main Eligibility Requirement

You must be a first-time homebuyer. More importantly, you should not have owned a home within the past three years and should not be looking for a house in other areas of Georgia.
The home’s purchase price should not exceed the purchase price limit of the county you want to purchase.
Your liquid assets should not be worth over $20,000 or 20% of the buying price (whichever is higher).
The amount of money you’ll receive depends largely on where you live and the respective median income limit. For instance, if the property is in Sandy Springs-Roswell, GA, your household income has to be less than $86,500 for one to two persons. The limit for a three-person household is slightly higher at $99,500. Check out the Georgia Department of Community Affairs website for more details about income thresholds for different areas.

Atlanta Housing (AH) Homeownership DPA Program

Need help with your down payment? If so, you should consider the AH Down Payment Assistance Program. Created with first-time homebuyers in mind, it offers up to $25,000 in downpayment assistance.

Unlike other programs, which tend to be restrictive, this one allows applicants to apply for other homebuyer support programs. The fact that the loan is completely forgiven after ten years of occupation is the cherry on top. However, this program is reserved for individuals in specific occupations, such as healthcare staff, military personnel or veterans, educators, public protectors, and Voucher Participants.

Eligibility

A sales price of $375,000 or less is required to meet the established criteria.
The applicant’s income should be less than 80% of HUD’s MSA Area Median Income.
The purchased home should be the applicant’s primary residence.
The applicant’s liquid assets should not be worth more than $25,000
Interested homebuyers should have met the lender’s credit criteria and obtained approval for conventional VA or FHA loan financing.
You should have lived in Georgia for the last six months.
You must also enroll in an 8-hour Homebuyer Education class from a HUD-approved service provider.
Be capable of contributing a minimum of $1,500 for the purchase.

Atlanta Neighborhood Development Partnership (ANDP) DPA Programs

ANDP is another organization determined to help Atlanta residents realize their home ownership dreams. One thing that sets it apart from other lenders is the fact that it offers diverse programs to meet different needs. For instance, there are opportunities for veterans, first-time homebuyers, and other groups. Every program has separate requirements that determine an applicant’s eligibility.

Program Options

ANDP-FHLBank Atlanta DPA Program

ANDP has partnered with the Federal Home Loan Bank of Atlanta (FHLBank) to offer financial aid to would-be homebuyers.

Eligible applicants receive between $12,500 and $15,000 for a down payment. They can use these funds to purchase one of ANDP’s properties or any other home located within Metro Atlanta. To qualify for this aid, offered on a first-come-first-served basis, applicants must earn less than 80% of the area’s average income.

ANDP Veterans Program

True to its name, this homeownership program is for honorably discharged veterans, reserve members, active-duty military workers, or Gold Star family members. If you qualify, you will get up to $15,000.

ANDP First Generation Homebuyer Program

This program helps first-generation homebuyers who fall into these categories:

Applicants who were raised in the foster care system
Applicants whose parents have never owned a home
Individuals whose parents lost their home
Homebuyers who lost their homes

You’ll receive up to $12,000 in homebuyer aid if you qualify.

Find Your Dream Home in Atlanta, GA with Jome

Your next chapter starts here! Let Jome guide you to the perfect home where you’ll create lasting memories and build a future you’ll love. Our Atlanta experts know the ins and outs of the housing market and have the tools to help you make your dream of homeownership come true.

From cozy bungalows to spacious family homes, our network of builders and developers ensures you’ll find the perfect fit for your budget, lifestyle, and personal vision. Start your search with Jome today and take the first step toward an exciting new life as a Georgia peach!

How the Housing Shortage is Affecting Multi-Generational Families

Dan Hnatkovskyy — Wed, 29 May 2024 21:17:34 GMT

The housing market crisis has become a significant obstacle for Americans, particularly affecting multi-generational families navigating the complexities of limited housing availability and escalating prices.

The crunch in housing supply and rising prices have uniquely challenged multi-generational households. The proportion of multi-generational families, steadily increasing even before the current housing squeeze, has been further propelled by these market conditions. Recent statistics highlight that the percentage of multi-generational households has surged from 18% in 2021 to over 25% by the beginning of 2024, underscoring the growing reliance on shared living spaces amidst the housing affordability crisis.

While mortgage rates have risen, impacting overall affordability, the direct hit to multi-generational families comes more from the sheer unavailability of homes that accommodate their unique living arrangements. With the median house price reaching $379,100 at the start of 2024, marking a 5.1% increase from the previous year, the dream of home ownership stretches even further out of reach for these extended family units.

This article delves into how the ongoing housing shortage exacerbates the challenges faced by multi-generational families, forcing them to adapt to an increasingly constrained market.

Impact of Housing Shortage on Extended Families

Compromised Living Conditions

Overcrowding and limited privacy pose considerable challenges for extended families living in tight spaces created by the housing shortage. Squeezing multiple generations into one home not only heightens health risks, including the spread of diseases and stress-induced mental health issues but also cramps the style of personal growth and comfort.

Such close quarters can stifle children's play and learning, as they have to learn how to play in the same small space. In their quest for identity, teenagers and young adults often find themselves on an awkward stage with family members as the audience. Meanwhile, couples face hurdles in keeping their relationship spicy, missing out on precious moments to reconnect in privacy.

Financial Burden

A glaring disparity exists between the need for affordable living spaces and their availability, especially for the country's poorest families. The National Low Income Housing Coalition (NLIHC) has shed light on this pressing issue through detailed research. Their findings reveal a troubling scenario:

11 million households are categorized as extremely low income, yet only 7 million affordable houses are available
Of the 7 million units available, 3.3 million have been taken up by high-income households
Extremely low-income households are forced to spend 50%+ of their revenue on housing, so they disproportionately experience the rental cost burden.

This imbalance in housing availability and affordability means that low-income families, especially those with additional dependents like elderly members or young adults, are disproportionately affected by the housing shortage, deepening their financial strain.

Limited Choices

Should you dedicate all your resources to caring for your family or focus on buying a home and securing your financial freedom? It's a classic catch-22 situation that many intergenerational families face. Many might argue that family should always come first. However, when immediate and extended family members rely on you, you'll likely have to adjust your budget.

Current statistics from the U.S. Department of Housing and Urban Development report that nearly one-third of households spend more than 30% of their income on housing, which is considered cost-burdened. Multi-generational families need more bedrooms and space to accommodate everyone. However, there aren't many homes out there that fit the bill in areas close to jobs, schools, or hospitals.

A Brighter Path to Affordable Housing with Jome

The housing crisis may feel intimidating, but the potential for change is within reach. By promoting collaboration between the government and real estate developers, embracing cutting-edge building technologies, and simplifying outdated regulations, we can open the door to more affordable housing solutions.

The best part? You don't have to navigate this journey alone. At Jome, we combine years of experience with a deep understanding of the housing market to make your dream home a reality. From your first question to the final blue tape walkthrough, we're with you every step of the way. Whether you're prioritizing affordability, location, or lifestyle, we'll turn the search for a new construction home into an exciting and achievable adventure.

Start your search today, and let's unlock the door to a future full of possibilities—together!

Sizing up the best (and worst) cities in America for single moms

Sofia Vyshnevska — Mon, 06 May 2024 13:56:12 GMT

Being a single mom isn’t easy. As if the day-to-day slog of raising the next generation weren’t hard enough, lone parents typically face much tougher financial pressures than dual-income households.

Single parents don’t just have to plan their budgets wisely, but also constantly be on the lookout to save money wherever they can. That makes choosing the right place to live absolutely imperative – particularly when the financial reality can vary dramatically from one city or state to the next.

To give hard-working moms a helping hand, NewHomesMate has been crunching the data on America’s cities to identify the best and worst places for single moms. We’ve looked at everything from average incomes to real estate prices, as well as the availability of healthcare, to work out which cities top the charts.

Our study revealed

The best city for single moms is Washington DC, followed by Atlanta, Seattle, and Minneapolis.
The worst city for single moms is Las Vegas, followed by El Paso, Bakersfield, and San Antonio.
The most expensive city to raise a child is San Francisco, followed by Oakland, San Jose, and Boston.
The cheapest cities for real estate are Milwaukee, Memphis, Baltimore, and Detroit.
The highest concentration of single folks can be found in Atlanta, followed by Washington DC, and Seattle.

The single life: the best cities for single moms

In order to find the top spots for single moms to live, we gathered data on America’s 50 largest cities – from New York City to Aurora – and then ranked them according to a range of financial and lifestyle factors.

We wanted to know not just the price of real estate, but the average salary and the typical cost of raising a child. We also looked at things like how each city scored in terms of educational rankings; the percentage of single residents (after all, not everyone wants to be a single parent forever…); and the availability and quality of women’s health care.

Typically, our highest ranked cities scored well across all categories. Take our overall winner, Washington DC. The city has the third highest average income in America, yet its real estate and childcare costs are much lower than other high-earning cities, helping that cash go even further.

Some of the largest and best known cities in the US ranked lower, despite scoring very strongly in certain categories. New York City, for example, was among the highest scorers for educational standards and women’s healthcare but was hampered by high real estate costs.

Other major cities achieved mid-range rankings across the board. Like Philadelphia, which ranked 17th overall, 34th for childcare costs, 39th for average salaries, 19th for education and 30th for the availability of women’s healthcare. Although the city of brotherly love did rank amongst the cheapest for real estate (9th with average house price: $265,000).

Overall, 23 cities from 20 different states achieved higher than the median score of 30, with Seattle, Atlanta and Minneapolis finishing just behind the capital at the top of the scoreboard. Other strong choices for single parents include Portland, Chicago and Denver.

Amongst the leading states, the best scoring city within California was San Francisco, while Austin and Tampa emerged as the best options for single moms in Texas and Florida respectively.

Hard times: the worst cities for single moms

Las Vegas has always been a city of winners and losers. But it seems that single moms are amongst the latter, thanks to sky-high childcare costs, expensive real estate, and poor provision of women’s healthcare

While the average Las Vegas salary ($36,275) wasn’t massively below cities like New York City ($48,066) and Los Angeles ($43,527), the city ranked considerably lower on many of the factors which will weigh heavily on the life quality of single parents.

Of the top 50 largest cities in the US, Sin City ranks 47th for educational standards and 37th for women’s healthcare and safety. Although the cost of raising a child ($23,395) is only marginally higher than the median ($22,225).

Our second lowest scoring city is El Paso in Texas. Despite the lowest childraising costs ($18,095), the border city is also hampered by having a low level of education, a small proportion of single folks (just 30.42%) and poor healthcare coverage for women.

The southern Californian city of Bakersfield, which ranks as the third worst city, shares a similar profile with low scores in education levels (50th out of 50 cities) and income (42nd out of 50). Despite that, real estate in the city is comparatively high, with an average price tag of $395,000, perhaps due to its proximity to Los Angeles.

Some single moms may also find it instructive to look at particular variables that matter most to them. Those concerned about the cost of raising a child, for example, would be advised to avoid the likes of San Jose, Oakland and San Francisco, all of which run to over $30,000 per annum.

For women’s healthcare, meanwhile, the cities with the worst scores are Tulsa, Indianapolis and Oklahoma City. Meanwhile, those looking for a potential partner would be wise to stay clear of Virginia Beach, El Paso, San Jose, Bakersfield, where the numbers of single adults are the lowest.

Even leaving aside the lowest ranking cities, our data shows how most areas have their individual drawbacks. For example, while New York City is consistently amongst the most in-demand places to live in America, the city has the 4th highest real estate prices and is the 10th most expensive city to raise a child.

So while life as a single mom may be no walk in the park, our data shows how parents can take into account different factors – both financial and otherwise – when weighing up their next move.

After all, no-one wants to be paying pricey for real estate on a low paycheck, or paying extra for services that cost much less elsewhere. As our study proves again and again, not all cities are alike – particularly for solo mothers.

Methodology

To create this study, we analyzed the average annual income per person, the average property price, the annual cost of raising a child, educational ranks, the percentage of single people living in the area and women’s health care & safety rank for the 50 most populated cities in the US.

Each city was assigned a ‘NewHomesMate score’ for each factor based on a predefined scale, with the total score for each city used to determine the best and worst places for single moms to settle.

'Detailed findings and how the NewHomesMate score was calculated:

Sources

World Population Review (The 200 Largest Cities in the United States by Population 2024)
United States Census Bureau (Per capita income in past 12 months (in 2022 dollars), 2018-2022)
Realtor.com (Median listing home price)
Smartasset (Annual cost of raising a child)
WalletHub (Most & Least Educated Cities in America (Overall Rank); Women’s Health Care & Safety Rank)