The City of Newton, Iowa is continuing it's incentive package to encourage new home construction in our community. Build a new home in Newton, Iowa and get a check for $10,000 from the City to spend on whatever you want. You can use the $10,000 towards construction costs, new furniture, moving costs, a vacation ... whatever you want! The only requirement to get the cash is that there's at least $160,000 spent on the new home construction (not including the lot) and that it be built in the Newton City limits.
New home buyers in Newton, IA will also receive an awesome "Get to Know Newton" welcome package which includes checks and useful gift certificates from local businesses, merchants and organizations around town.
Pictured above is Bruce Showalter with the Newton Housing Development Corporation, Cindy Bednarczyk with Bank Iowa, new homeowner Jin Hua Lin, and Craig Armstrong the Development Specialist at City of Newton
WATCH: Local ABC 5 News - Cash Incentive for Building a Home
Local ABC 5 "We are Iowa" did a fantastic news report on the $10,000 cash incentive for new home construction in Newton, IA. See the news report here: ABC 5 "We Are Iowa": Cash Incentive for Building a Home
It's affordable living in Newton, Iowa
Newton, Iowa is a growing community located just a short 30 minute commute to the area's major employment, entertainment and shopping hub, Des Moines, IA. Newton is home to the Iowa Speedway which brings 1000's of race fans to Newton each summer. Newton's downtown area is in the middle of major improvements including restoring the former Maytag Hotel into new affordable housing, plus new restaurants and shopping around the town square. The Jasper County Courthouse anchors the town square and brings a constant flow of traffic to the area.
So you've decided to build a new home in Newton, Iowa ... so now what?
Make sure you follow some guidelines to make sure you're happy with the home building process.
Select a reliable home builder with a strong reputation in the Jasper County, IA area. Try talking to people in the neighborhood where you want to live about their home building experience. Were they happy with how the process went? Do they feel good about the end result? Talk to myself or your real estate agent about who they might recommend as a quality home builder for this area. When you've narrowed down which builder you think you'd like to work with, then you can begin working out the details.
When doing new home construction it's important to think through in great detail exactly what features you would like in your new home. You will prepare a detailed agreement before building, usually referred to as "plans and specifications." It is easy to have misunderstandings if you are not very specific in this agreement.
Make sure if interest rates are low when the building process begins, that you lock into an interest rate. Do not allow any arrangement where the lender may increase the interest rate if they go up before your home is finished. Also, make sure there is a definite completion date stipulated in your contract.
If there are any improvements or street repairs to be made in the neighborhood, find out in advance whether you or the home builder will be responsible.
Keep an eye on how your new home is progressing during the building process. If things don't seem to be going according to schedule, don't be afraid to inquire with the home builder. If changes are called for that deviate from the original agreement, get a written change order agreement drawn up. This will ensure no surprises at the closing.
If all this seems like a lot for you to keep track of, contact me today for help. As a Realtor and Home Listing Specialist in the Newton and Jasper County Iowa area, I can help make sure you are being represented and protected properly. New home construction and dealing with an investment this large deserves special attention to detail.
Real Estate Vocabulary
In an ongoing attempt to educate homeowners in real estate terminology, here are a few terms that you should know:
Abstract of Title: A summary of all the previous owners or records relating to the title of a piece of land. Attorneys or title insurance companies often review an abstract of title to determine if there are any potential problems that must be cleared before title can be transferred to a new home owner.
Acceleration Clause: A condition in a mortgage contract that may require the balance of the loan to become immediately due and payable, if certain terms such as regular payments are not kept.
Cloud on Title: An outstanding claim or encumbrance which affects the transfer of title to a new home owner.
For more information about building a new home in Newton, IA and the amazing incentive packages available, contact me today!
Feel free to Browse my Website for more information.
120 N 2nd Ave W
Newton, Iowa 50208
During the market crash in 2008 or so, Maytag Appliance which manufactured washers & dryers in Newton, closed up operation and moved to Mexico. Housing dried up in town. After several years of no building permits issued in Newton, the City decided to try and attract home builders to town and build new construction homes so they started this program. It's working so well and has been such a success to new development in Newton, and increasing the tax base, that they continue the $10,000 cash giveaway