With the large number of foreclosed homes on today’s market, homebuyers are considering them for their housing needs. While priced below many new homes in the market, this purchase can sound very attractive… But are the risks worth it?

New Homes Are: 

• Protected by workmanship, material and structural warranties protecting you from large out-of-pocket expenses after purchasing.
• Available for immediate occupancy or in a timeframe that is conducive to your moving schedule and are available in a variety of designs, sizes and locations.
• Available with Special Incentive Programs making it more affordable for you to own a new home in many instances. ·
• Open for you to make them your own. Bestfield Homes’ “Your Home, Your Way” program allows you to customize your new home to your lifestyle. Why live in someone else’s dream home when Bestfield can build your dream home? ·
• More energy efficient saving you money and helping the environment. Remember, every Bestfield Home is a green home as certified by NAHB.
• Made form the latest materials and newest technologies that require little or no maintenance.

The Risks of a Foreclosed Home:

• You are purchasing the property “as-is”.  If the prior owner is not capable of financially keeping their home, they are not capable of financially maintaining their home.
• No Warranty. Foreclosed homes come with no warranty and are often not available for inspection before purchase. This opens the new owner up to substantial risk.
• Financing. Although a foreclosed home may come at a discounted price, there is a reason for that. There are substantial additional costs that the new owner will have to make out-of-pocket. A new home can be mortgaged up to 97% with today’s terrific mortgage programs.