How Better Path Homes is Helping People Buy Their Dream Home in a Volatile Market

How Better Path Homes is Helping People Buy Their Dream Home in a Volatile Market

Charlotte, North Carolina – January 8, 2023 —

Realtors in Charlotte, North Carolina, are feeling the impacts of the housing shortage and rising interest rates. These factors are causing a ripple effect on how people buy and sell homes in the city. And much like the rest of the country, Charlotte’s demand for housing and average home prices have increased, leaving some buyers with few options. So, what can people do? That’s just what we’re going to discuss today when we introduce you to a new company that may be able to help you build an affordable home.

What’s Going on with Charlotte’s Housing Market?

Shortly after the COVID-imposed lockdowns began, the number of homes for sale in Charlotte, N.C., tanked, making things nearly impossible for home buyers and fueling the increase of housing prices in one of America’s fastest-growing metro areas. Yet, as mortgage rates began to climb this spring, the city’s home inventory suddenly changed course.

In Mecklenburg County, home of Charlotte, total home listings almost tripled from March 2022 to June 2022, going from 1,700 in March to over 4,500 in June. This shift is thanks to the rising mortgage rates, but Charlotte’s housing market still has a long way to go before home sales reach their pre-pandemic levels.

But don’t get excited just yet! Nationwide housing inventory is still significantly lower than it was just five years ago, so it’s still a seller’s market. To make matters worse, the average cost of a home in Charlotte is over $400,000. So between the price of the house and increased mortgage rates, some home buyers are being pushed out of the market.

Rental owners aren’t safe either. The current median rent price is just over $1,500 per month across all unit types. This is an increase of 15.8% over last year. To say that home buyers and renters are frustrated is an understatement!

This is Where Better Path Homes Comes Into Play

Better Path Homes is a small family-owned real estate investing and consulting company that got its start in 2017 by buying distressed properties for cash. But their whole business model changed when the pandemic hit.

The company’s COO, Matt Ruggiero, recently explained, “When Covid hit, we decided to start buying small vacant lots in the Charlotte area, and we found that we could build beautiful new affordably priced homes for first-time homebuyers, veterans, entry level investors, and others who might struggle to find a suitable property given the current market conditions.”

Their primary goal is to make a positive impact on Charlotte and its residents. They help the community by purchasing houses, vacant lots, and other properties that the current owner can no longer afford to manage financially or mentally.

Better Path Homes then rehabilitates existing properties, making all necessary repairs before selling the home. But it’s the vacant lots that they buy where the real value is found. These lots are cleared and then used to build brand new homes.

These homes are then priced below $300,000 which means that, in one of America’s most popular housing markets, the right person can buy their own brand new home for $100,000 less than the market price. Perhaps the best part is that they make the buying and selling process simple and stress-free.

“If we can offer a home with a new construction warranty then people can afford to purchase them instead of keeping reserves for the unforeseen problems with buying a resale house,” added Matt Ruggiero. “In a market where rising rates will increase the monthly mortgage, that’s a huge deal. You want to have faith that your property won’t have hidden costs after you’ve purchased it, as is sometimes the case with resale homes.”

So, if you currently live in Charlotte and are looking to buy a new home, the team at Better Path Homes would love to hear from you! Contact them today to discuss available and upcoming properties. After all, you never know – they may have just built your dream home!

Contact Info:
Name: Better Path Homes
Email: Send Email
Organization: Better Path Homes
Phone: (704) 802-1097
Website: https://www.choosebetterpath.com/

Release ID: 89087807

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