K. Hovnanian® Is A Smart Choice For For Today’s Homebuyers

Smart home shoppers know that purchasing a new home this spring is a wise move.

Why? One reason is affordability. After years of holding steady, mortgage interest rates have been slowly inching up this year, according to a report from Bankrate. And each uptick reduces the consumer’s buying power.

“Mortgage interest rates are still very low, hovering around four and a half percent,” said Andy Konovodoff, president of K. Hovnanian® Developments of Illinois, Inc. “However, locking in today before they increase again can help homebuyers get more for their dollar.”

Another reason is availability of homes. According to the Illinois Realtors® monthly housing market report, median home prices started this year up seven percent compared to last year, while inventory of homes for sale shrunk by more than 15 percent.

“Combined, these two factors are making it more difficult for people to find the exact home they want at the price they can afford,” said Konovodoff.

To expand options for home shoppers, K. Hovnanian® Homes is offering a wide selection of Quick Move-In Homes. These homes are already built and ready for buyers, making them an intelligent alternative to resales.

“Our Quick Move-In Homes offer the best of both worlds,” said Konovodoff. “Buyers get all the benefits of new construction—like energy efficiency, updated floor plans, contemporary finishes, and the ability to add their own personal touches. Plus, they can move as soon as 30 to 60 days.”

K. Hovnanian® Homes has Quick Move-In Homes at most of its Chicagoland communities, including Parkside of Libertyville in Libertyville; Sauganash Glen in Chicago; Sagebrook in South Elgin; Hanover Estates in Manhattan; The Estates of Fox Chase in Oswego; and Heatherfield and Tramore in Naperville. Only one home remains at Northridge Estates in Wheaton and one at the Villas at Trafford Place in Naperville—both ready for immediate delivery .

Prices for Quick Move-In Homes, which are subject to change, range from the low $300s to the upper $700s.

For those who prefer to build from the ground up, K. Hovnanian® Homes offers plenty of opportunities for that. The builder has eight active communities throughout Chicagoland with available homesites and home designs—including Maple Hill in Mundelein, which recently grand opened. In addition, K. Hovnanian® Homes recently announced plans for its newest neighborhood, North Grove Crossing in Sycamore.

Prices for newly built homes, which are subject to change without notice, range from the upper $200s to upper $700s.

“Why is purchasing a new home such a bright idea?” asked Konovodoff. “If it’s a K. Hovnanian® home, it comes with resourceful design features to meet today’s household needs ...like dens, lofts, studies, home offices, Hov Hubs, and more. That means everyone can find a place to think, work and share ideas.”

Not only are K. Hovnanian® homes built for brains, communities often are located within sought-after school districts such as Naperville’s School District #203 or Indian Prairie School District #204, Mundelein’s Fremont School District #79, St. Charles Community Unit District #303, and Lincoln-Way Community High School District #202.

Home shoppers can see why choosing a new home is brilliant by visiting any of K. Hovnanian® Homes’ model homes throughout Chicagoland. Sales hours are 11 a.m. to 6 p.m. daily. For a listing of community and model locations, visit www.khov.com/Chicago.