2024 New Home Buying GUide by Colorado Springs Gazette, LLC

A Special Advertising Section of The Gazette

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Sunday, February 18, 2024

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 TOLL BROTHERS:

Building new luxury homes in Colorado Springs SPONSORED FEATURE

Toll Brothers builds a full range of new construction homes in Colorado Springs. Our communities benefit from resort-style amenities, awardwinning schools, nearby recreation, restaurants and shopping, making it easy to find the right home for your lifestyle. Homebuyers have a choice of homes in the luxurious westside community of Red Rocks and Preserve at Kissing Camels, or in the Wolf Ranch master plan at Revel and élan. Kissing Camels features 14 floor plans spanning from 1,704 to 3,624 square feet of living space. Home designs range from thoughtful main level living in Preserve to expansive single-family floor plans in Red Rocks, with two- to five-car garages and finished basement options. Revel and élan in Wolf Ranch feature spacious ranch and two-story designs offering two to six bedrooms and two to four garages. Homes range from 3,477 to 4,326 square feet, accommodating families at any stage of life.

Kissing Camels residents have access to beautiful resort amenities, including a 27-hole golf course, clubhouse, pools, fitness center, and tennis and pickle ball courts, through an optional paid membership. Wolf Ranch, voted “Best Neighborhood” for several years, provides miles of interconnected trails, an 11-acre lake, a pool and outdoor festivals. All communities offer designercurated quick move-in homes for various timelines. Buyers also have the option to select from available home sites and personalize their future homes at the Toll Brothers Design Studio. The Heights at Cottonwood Creek — new luxury townhomes in the coveted Academy School District 20 — is coming soon, featuring innovative designs with Front Range views and access to Cottonwood Creek Park. Toll Brothers model homes are open daily; contact a sales consultant at 866-999-6822 or visit tollbrothers.com/ luxury-homes/Colorado-Springs-CO/. 

 VILLAGE COOPERATIVE:

New home option for active adults (62+) is raising eyebrows for good reasons SPONSORED FEATURE

There are many financial benefits to property ownership, but homeowners used to have to take the good with the bad. As we age, the hassle of bills, repairs, maintenance and a number of other unpleasant surprises becomes more draining. But active adults in Colorado Springs will soon have a new option that allows them to reap the financial rewards of home ownership and the joy of a vibrant community: The Village Cooperative of Ute Valley, a nationwide network of senior housing communities (sometimes called co-ops). “Finally, there is a housing option for seniors — working or retired — that is affordable and yet has all the amenities they want in their next home,” said Steve Von Schmidt, marketing director for the Village Cooperative. “While it’s not a new concept, it has recently grabbed attention in Colorado for these reasons. In fact, senior cooperatives have been around for well over 40 years, primarily found throughout the Midwest.” Real Estate Equities Development, LLC, the development company 4 | New Home Buying Guide | Sunday, February 18, 2024

behind the Village Cooperatives, has been in business since 1972. The company’s primary focus has been on cooperatives since 2003, including 44 Village Cooperative locations that are either open, under construction or being planned for construction — 12 of which are located in Colorado. Contact Janet St. Peter today at 719-425-8090 to attend an upcoming free informational seminar and get more details about this exciting community. Visit VillageCooperative.com for more information. 

 COVINGTON HOMES NEW HOMES:

Distinctive. Affordable. Attainable. SPONSORED FEATURE

It really is possible to achieve the dream of homeownership — especially for first-time homebuyer budgets! The distinctive, awardwinning homes in Covington Homes’ collections offer quality homes at a practical price that feature attention to detail and outstanding craftsmanship. The award-winning residences are well thought out, fully planned, and exceptionally executed. “How?” you might ask. By negotiating the best pricing available with their trade partners and suppliers ... and passing the savings on to their customers. The local, family owned and operated Covington Homes has been working with many of the same vendors for decades; a true testament to their values and relationship-building prowess. “We don’t report to Wall Street, we report to Main Street,” said Covington Homes CEO Grace Covington. “Our workforce housing product — similar in price to a townhome, but with your own private parcel and yard — starts

in the $450s, featuring 1,540 square feet with three bedrooms, two-and-ahalf baths, 3-car tandem garage, open floor plans with great kitchens, and fully landscaped front yard with fencing.” With interest rates projected to go down this year, and Covington Homes’ continued offer of interest rate buy down and the opportunity to lock in your rate, now is one of the best times to buy in recent history! Covington Homes community sales managers — in Banning Lewis Ranch (including the new Gardens at Banning Lewis Ranch), Meridian Ranch, and Wolf Ranch (coming soon: Gardens at Wolf Ranch) — can help guide you through the new homebuying process. Covington Homes is licensed and registered with the Colorado Association of Realtors and the Pikes Peak Association of Realtors. Covington Homes invites you to join them and start your New Home Building experience today! 

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 VANTAGE HOMES:

Quality-focused homes in the shadow of Pikes Peak SPONSORED FEATURE

Step into Vantage Homes, where our commitment to building excellence has been unwavering since 1983. For over 40 years, we’ve been crafting new homes in the picturesque landscapes of Colorado Springs and Monument, leaving a legacy of thousands of delighted homeowners. Our journey is defined by care in the art of home building. The combination of our expertly planned, meticulously engineered, and competitively priced floorplans and vast library of designer options allows your personal touch to fit seamlessly into one of our modern and energy-efficient homes. We understand that your home is an expression of you, and we’re eager to show you how you can put Your Fingerprint on Our Blueprints. At Vantage Homes we strive to be one thing — The Builder of Choice. For us this mission doesn’t start and stop with our homeowners but rather

 PLANET GRANITE, INC.:

The one-stop shop for beautiful, functional designs in stone for your new home SPONSORED FEATURE

Planet Granite, Inc. is Colorado’s number one native countertop fabricator of choice, celebrating 26 years in business! Reliable experts in the industry and Natural Stone Institute Accredited, this is your one-stop shop to hand select your materials locally onsite and have them fabricated and installed. The Planet Granite stone yard and gallery offers thousands of natural stone and engineered quartz slabs to choose from for your custom designs! We also offer a collection of Colorado marbles in stock as well, receiving new colors frequently. Many clients enjoy the option to assist in the design layout of countertops and choosing accessories, such as sinks, at the showroom. Not sure where to start? Planet Granite, Inc. offers free no obligation

measuring for estimates, and has a full design team available to assist you in achieving your designs in stone. We can also assist you with creating not only beautiful countertops, but dining tables, desks, shelves, fireplace hearths, and other projects. Be sure to ask your design representative about discounted leftover remnant pieces for your smaller projects as well. Planet Granite, Inc. is a local company that supports many people in the community and also strives to be green. Let us help you with all your countertop and sink projects, whether you need us at your home, or are a designer, builder, or commercial client. Financing offered. Visit us in-person at 3020 N. Stone Ave., 80907 or visit the website at www.planetgraniterocks.com for ideas. 

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it spreads across every professional relationship we have. We strive to be the builder of choice for local trade partners, Realtors, land developers, and our employees. This is our mission because we know that if we are the builder of choice in every one of these aspects, we can build the highest quality homes in the most desirable neighborhoods while providing an exceptional and memorable experience for everyone involved. This, in turn, allows us to be the builder of choice for you — our customer. As you embark on the exciting journey of building or owning a new home, let Vantage Homes be your trusted partner. Our dedication to superior build and value, coupled with a heritage of satisfied homeowners, sets us apart as a local builder you can rely on. Explore the possibilities and let us help you turn your dream home into a reality. 

 CELEBRATING 35 YEARS OF EXCELLENCE:

Classic Homes, the trusted name in home building SPONSORED FEATURE

Classic Homes, a premier local land developer and home builder, has been shaping the residential landscape of Colorado Springs since 1989. Now in their 35th year, they continue to set the bar high with their commitment to quality, innovative housing products, and dedication to the community. Known for delivering unparalleled quality, Classic Homes has been an integral part of the Pikes Peak region’s growth for over three decades. With a portfolio that boasts five desirable home collections featuring more than 50 distinct floor plans, homeowners have the flexibility to design a home that perfectly aligns with their needs and lifestyle. Whether it’s the serene ambiance of the Waterfront Park with its 65-acre private lake or the modern opulence of new listings like the homes in one of Classic’s Midtown Collection communities, Classic Homes offers a diverse array of living experiences that cater to varying tastes and preferences. But what truly sets Classic Homes apart is their unwavering commitment to the community.

They are not just building houses; they are creating neighborhoods that foster a sense of belonging and cultivate community spirit. Their developments are meticulously planned, ensuring that homeowners enjoy not just the comfort of their homes, but also the beauty and convenience of their surroundings.

Moreover, Classic Homes’ success can be attributed to its dedicated team. Recognized year after year as the best new home builder in Colorado Springs and Monument, their team’s expertise and passion are reflected in every project they undertake. They work closely with homeowners, ensuring that each home is built to the highest

standards and meets the unique needs of its residents. As they celebrate their 35th anniversary, Classic Homes’ legacy is evident in the thriving communities they’ve built and the satisfied homeowners they’ve served. Their commitment to quality, innovation, and community has cemented their status as the leading home builder in Colorado Springs. In the years to come, Classic Homes aims to continue its tradition of sustained excellence. They are poised to introduce more innovative housing products and expand their reach in the community. As they look forward to the future, one thing remains certain: Classic Homes will continue to build not just homes, but also lasting relationships with homeowners and the community, one house at a time. To learn more about Classic Homes, their communities and home designs, visit www.ClassicHomes.com. Online new home specialists are available seven days a week. To schedule a private showing of models and quick move-in homes, call 719-888-3445. 

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BUILDING BEAUTIFUL LUXURY HOMES

IN COLORADO SPRINGS

Toll Brothers, an award-winning Fortune 500 company founded in 1967, is the nation’s leading builder of luxury homes. Explore the beautiful Toll Brothers locations in Colorado Springs and learn more about our luxury homes. Sales Centers are open daily at Wolf Ranch and Kissing Camels, and our new Sales Center is coming soon to Heights at Cottonwood Creek. For more information or to schedule an appointment, contact our Online Sales Consultants:

866-999-6822 | TollBrothers.com/ColoradoSprings Brokers welcome. Homes available nationwide. Prices subject to change without notice. Photos are images only and should not be relied upon to confirm applicable features. This is not an offering where prohibited by law. 01/24

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Welcome to a welcoming community. Voted #1 in the Best Colorado Springs Neighborhood category by Gazette readers, Wolf Ranch stands out as a warm and welcoming community. For twenty years, each phase of our master-planned community has been thoughtfully executed to blend everyday-living with the natural beauty of Colorado Springs. Wolf Ranch residents enjoy ample opportunities to delight in the outdoors via a network of parks, trails, and open spaces. What is like to live here? Wolf Ranch is more than just a neighborhood; it's a community that fosters connections through family-friendly events and activities promoting a healthy, active lifestyle. In 2023, Wolf Ranch hosted over 50 events for residents, including annual events like our fall festival, Beer n’ Bingo nights and summer concert series to rotating events like yoga in the park and paddle-boarding on Wolf Lake. Looking for upscale living? You will find Wolf Ranch delivers with our diverse range of new homes. Each home is crafted with a focus on natural lighting, comfortable living spaces, and energy efficiency. You can explore available homes for sale on wolf-ranch.com. Wolf Ranch is not only a place with stunning mountain views and beautiful homes; it is a vibrant community with a Colorado way of life.

www.wolf-ranch.com @wolfranchCOS

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Putting the Home in Hometown since 1989. Classic Homes has been recognized as a leading builder in El Paso County for more than thirty years. We’ve been creating desirable communities, incredible parks and building award-winning homes throughout Colorado Springs and Monument since 1989. When you’re ready to make your next move, we invite you to visit one of our premier hometown communities.

From Your First Home to Your Last, We’re With You All The Way. 10 COMMUNITIES

1 2 F U L LY D ECO R AT E D M O D E L H O M E S

60+ FLOORPLANS

QUICK MOVE-IN HOMES

Explore Five Amazing New Home Product Lines from Classic Homes. Classic’s Online New Home Specialists are available 7-days a week.

ClassicHomes.com 719-888-3445

From the upper $300s

From the $400s

From the mid $400s

From the $500s

*Pricing and availability subject to change. Home product varies by community.

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Pikes Peak New Homes 1

Cordera

Vantage Homes 8542 Noreen Falls Drive Sold Out of Wolf Ranch Model Home From the $500’s Vantagehomescolorado.com 719-463-8572

Classic Homes 8283 Nat Love Drive Single family homes from the low $500’s Classichomes.com 719-888-3682

Richmond Homes 5657 Mammoth Lane From the upper $400’s Banninglewisranch.com

Classic Homes 9974 Antelope Ravine Drive From the upper $500’s -upper $800’s Classichomes.com 719-888-3682

Wolf Ranch

Challenger Homes $500-$800K 719-373-6602

Vantage Homes 4585 Mesa Top Drive, Monument From the $700’s Vantagehomescolorado.com 719-463-8572

Covington Homes 6293 Deco Drive Low to Mid $500’s Covingtonhomesco.com 719-448-5000

Monument Junction

Classic Homes 17594 Brass Buckle Way, Monument Classic Collection from the mid $500’s Cadence Collection from the mid $400’s Classichomes.com 719-301-2470

Creekstone Homes $700’s to $800’s 719-243-2956 David Weekly Homes $500’s to $900’s 719-639-2722

Classic Homes Jackson Creek North (located on Harness Rd Off of Jackson Creek Pkwy) Sold from 17594 Brass Buckle Way Monument, CO Classic Collection from the mid $500’s Classichomes.com 719-301-2470

JM Weston Homes $400’s to $600’s 719-694-9662 Level 1 $400’s to $600’s 719-339-0720

Palomino Ranch

Masterbilt Homes Palomino Ranch Townhomes Stetson Hills Blvd. and Tutt Blvd. Low 400s Palomino-townhomes.com 719-964-3526

Vanguard Homes $600’s - $700’s 719-650-1778 Vantage Homes 8542 Noreen Falls Drive From the $500’s Vantagehomescolorado.com 719-463-8572

Forest Lakes

Classic Homes 15725 Timber Trek Way, Monument From the $700’s Classichomes.com 719-419-8232

Classic Homes 10070 Thrive Lane $700K to $800’s Classichomes.com 719-888-4112

Toll Brothers 6411 Tumble Creek Drive From the $630K to $880K Tollbrothers.com 719-300-1950

Retreat at Timber Ridge Vantage Homes 9996 Antelope Ravine Drive From the $600’s Vantagehomescolorado.com 719-463-8572

Oakwood Homes 5852 Dakan Loop From lower $300’s Banninglewisranch.com

StoneyBrooke Homes Sold from 10049 Costal Hills Lane, Peyton From the $400’s Stoneybrookehomes.net 719-492-1109

Vantage Homes 8275 Nat Love Dr. From the 500s Vantagehomescolorado.com 719-463-8572

Banning Lewis Ranch Covington Homes 9389 Mayflower Gulch Way Starting in the mid $400’s Banninglewisranch.com 719-448-5000

Sterling Ranch

Meridian Ranch

Covington Homes 13424 New Ranch Dr., Peyton Starting in the High $400’s Covingtonhomesco.com 719-448-5000

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Ute Valley

Real Estate Equities 7222 Commerce Center Drive, Ste. 201 $217,000 to $368,000 Villagecooperative.com 719-245-8090

10 Flying Horse Vantage Homes 16426 Monument Rock Ct., Monument Sold Out of Wolf Ranch Model Home From the $1MM Vantagehomescolorado.com 719-463-8572 Classic Homes 2409 Parma Court Single Family Homes from the upper $600’s Classichomes.com 719-722-3865

11 Winsome Hodgen Rd. and Meridian Rd. Black Forest 2.5 to 5 acre lots $900,000 and up Lots are from $250,000 to $300,000 Abigail Homes Abigailhomes.com 630-585-5605 Acordia Homes Acordiahomes.com 719-499-6159 Anthony Homes Homesbyanthony.com 719-332-3930 Black Oak Homes Blackoakhomes.net 719-301-1608 Colarelli Custom Homes Colarellicustomhomes.com 719-243-1952 G.J. Gardner Homes Gjgardner.com 719-394-9179 Gowler Homes Gowlerhomes.com 719-460-4802 Jayden Homes Jaydenhomescolorado.com 719-314-9875 JS Homes JSHomesInc.com 719-320-4805 Majestic Custom Homes Majesticcustomhomes.com 281-900-7020

Masterbilt Homes Masterbilt.com 719-964-3526 Murphy’s Custom Homes Murphyscustomhomes.com 719-233-2883 Saddletree Homes Saddletreehomes.com 719-BUILDER Shea Chappell Luxury Homes Sheachappell.com 719-633-7999

12 Pathways Classic Homes 6827 Starry Night Lane 4-Square Collection from the $500’s Midtown Collection from the upper $400’s Classichomes.com 719-235-5961 13 Greenways at Sand Creek Classic Homes 3575 Tutt Blvd (sales center) Classic Collection from the mid $500’s Midtown Collection from the mid $400’s Townhome Collection from the upper $300’s Portrait Collection from the mid $400’s and ADU from the $500’s Classichomes.com 719-249-8212 14 Sanctuary Pointe Classic Homes 17607 Lemon Rye Loop, Monument From the mid $800’s Classichomes.com 719-387-9270 15 Kissing Camels Toll Brothers 1274 Almagre Heights From $880K to $1M Tollbrothers.com 719-928-4200 16 Heights at

Cottonwood Creek

Toll Brothers Coming Soon – Spring 2024 Rangewood and Lee Vance Drive, 80918 Tollbrothers.com

17 Home Place Ranch Vantage Homes 16426 Monument Rock Ct., Monument From the $600’s Vantagehomescolorado.com 719-463-8572

Pikes Peak New Homes Palmer Lake

PALMER DIVIDE RD.

105

HIGBY RD.

10 83

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MERIDIAN RD.

HODGEN RD.

BLACK FOREST RD.

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Monument

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BURGESS RD.

CIM

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15 FILLMORE ST.

ST.

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Colorado Springs

13 24

85 87

PLATTE AVE.

AIRPORT RD.

ACADEMY BLVD.

CIRCLE DRIVE

MARKSHEFFEL RD.

Manitou Springs

POWERS BLVD.

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WOODMEN RD.

DRENNAN RD.

SV LA . ST AS EG

Security FONTAINE BLVD.

Widefield MESA RIDGE PKWY

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Pueblo

SQUIRREL CREEK RD.

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Use Fort this easy reference map to find your new home! Carson OLD P

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UEBLO RD

CE FOR A PLA

New Beginnings

A community rich in culture, events, and gathering places, Banning Lewis Ranch is the perfect environment to create lifelong memories. Our flourishing community has been voted Colorado Springs’ best neighborhood for 9 years in a row. With over 75 acres of parks and trails, a splash park, gym, excellent schools, and close proximity to dining, entertainment, and shopping, Banning Lewis Ranch is the perfect place a new beginning for your family. Moments as custom as your home, in a community crafted for you.

A PLACE FOR LIFE’S BANNINGLEWISRANCH.COM

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Fairytale Moments

A SENSE OF

place

p Ask Banning Lewis Ranch residents about their favorite aspect of living here, and you’ll get a range of answers. Some will say they love their easy access to the parks, trails and open spaces that are woven throughout the community, or the Ranch House outdoor pool and fitness center, which provide multiple opportunities for an active, healthy lifestyle. Others will tell you about the variety of events, from the free summer concerts, farmers market and July 4th fireworks to cookies with Santa in December. Still others will cite thoughtful amenities including the dog park and places to get together with friends, like The Barn’s multipurpose room and its entertaining kitchen.

close attention was paid in laying out the community’s street network with walkability and multiple modes of transportation in mind. It’s why there’s a park, open space and/or trail within two blocks of every single Banning Lewis residence. It’s why Banning Lewis and the YMCA of the Pikes Peak Region-run Ranch House sponsor the summer-long concert series, food truck convocations and community market. It’s why the Banning Lewis Recreation Center organizes summer soccer, basketball and flag football camps, offers swimming lessons and is constantly adding events that bring folks of all ages together. The fun continues in the fall with a September pig roast and October’s fall festival exclusively for Banning Lewis Ranch residents.

All of these responses touch on the same thing: When you move to Banning Lewis Ranch, you are welcomed into a neighborhood that gives you multiple opportunities to be connected. You’ll get to know your neighbors and make lifelong friends; your kids will find plenty of other kids to play with; and you’ll find everything you need for an active and engaged lifestyle close at hand. That’s why Banning Lewis Ranch has been the No. 1-selling home community in the Pikes Peak region for the past nine years.

Opportunities for living in Banning Lewis Ranch are expanding, with new models becoming available this year. Oakwood has launched two new collections built with affordability in mind: Ascent and Coach House. The Ascent collection features floorplans ranging from 1,264 to 1,587 square feet, two to four bedrooms and 2 - 2.5 baths, priced from the low $300s. The Coach House models feature three to four bedrooms and 2.5 - 3.5 baths and from 1,436 to 2,165 square feet, priced from the high $300s; homes in both collections are expandable if the buyer needs more space. Richmond American Homes offers its most popular ranch and two-story homes with a variety of sizes and elevations starting in the upper $400s. And Covington Homes welcomes you home with their large, family-friendly floor plans with large bedrooms and gathering spaces. Banning Lewis also boasts The Retreat, the first 55-and-better active adult community in Colorado Springs, with Oakwood-designed mainfloor living floorplans and its own recreational and resort-style amenities to encourage an active, healthy and connected lifestyle.

Attention to the spirit of community, and not just the floor plans of its residences, has been top of mind for master developer Oakwood Homes since it assumed ownership of the historic Banning Lewis Ranch in 2012. To be sure, the variety of homes here and the smallest details of every structure, from flooring to shingles, are thoroughly thought out to appeal to all sorts of tastes while delivering value that will last and grow. But Oakwood, Colorado’s largest private builder, knows there’s much more than just highly desirable houses to creating a community with a distinct sense of place. That’s why

WITH HOMES THROUGHOUT BANNING LEWIS RANCH RANGING FROM THE $300s TO $500s, THERE’S ONE TO FIT EVERY STYLE PREFERENCE AND BUDGET. TO LEARN MORE, VISIT BANNINGLEWISRANCH.COM. FEATURED BUILDERS

Active Adult Community

STARTING IN THE LOW $300s

STARTING IN THE HIGH $300s

OakwoodHomesCO.com 719-380-5092

MyOakwoodLife.com 719-380-5092

STARTING IN THE $400s RichmondAmerican.com 303-850-5750

STARTING IN THE $400s CovingtonHomesCO.com 719-448-5000

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You’ll find your heart At Winsome, you can live with Black Forest breathing room around you, with nature and animals in harmony, and with all you love together in the place you love best. A home your heart will thank you for.

Pikes Peak and Mountain Views Third & Final Phase Coming Soon 5+ Acre Home Sites

WinsomeColorado.com

Your Home Your Way. Your lot or ours.

MasterBilt Homes, Inc. has been building homes in El Paso County since 1993. We are family owned and operated by a veteran and Colorado Springs natives. MasterBilt homes are thoughtfully designed to be both stylish and functional. Modify our plans, bring your ideas and . . .

make your home your way.

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| scan for details |

719.964.3526 jim@masterbilt.com | masterbilt.com

 CONSUMER CHALLENGES:

Demystifying insurance to ensure proper coverage FAMILY FEATURES

Home and auto insurance are among the things many people buy but hope to never use. Proper coverage provides peace of mind that an accident, weather event, natural disaster or unexpected injury or illness will not cause financial ruin. However, many Americans are uninsured, underinsured or paying too much for coverage. Data from the Insurance Research Council cited by the National Association of Insurance Commissioners shows 12.6% of U.S. motorists are uninsured — approximately one in eight cars on the road. For uninsured drivers, plus those involved in accidents with them, fender benders or worse can result in out-ofpocket costs. Homeowners need to be properly insured, as well. According to the National Centers for Environmental Information, the U.S. has experienced more than 350 weather events or natural disasters since 1980 that have caused more than $1 billion in damage. Even small thunderstorms can send tree branches into homes, causing thousands of dollars in damage. For home and auto insurance, consumers should be sure their policies cover replacement and repair costs at today’s market rates,

in addition to liability coverage for personal injury and other damages. Insurance helps bridge these gaps, but it is common for people to renew policies without checking them. Because insurance policies are often seen as complex and confusing, that may prevent people from purchasing proper coverage. A 2022 survey from Realtor.com found only 56% of homeowners knew what to look for in their homeowners insurance policy when they bought their homes, and 15% did not have any idea what to check. In addition, Forbes Advisor reported 40% of drivers believe they had coverage that does not even exist. Consider these challenges consumers face when shopping for and comparing insurance policies and providers: 1. Industry jargon and lingo — When you visit a website or talk to an insurance agent, you may feel like they are speaking a different language with terms like “deductible,” “premium,” “co-pay,” “additional insured,” “aggregate limit” and “co-insurance.” 2. Bait and switch — Insurance carriers sometimes advertise low rates, but your rate may be higher

than expected when you apply, often with no explanation. 3. Fine print — “Sorry, that’s not covered.” These can be chilling words to hear when you are hoping your insurance policy comes through for you in a time of need. An explanation may be deep within the policy, but you may need a magnifying glass to find it. 4. Transparency — Many decisions that affect rates and coverage may seem to be done behind a curtain, such as rates in comparison to neighbors, remodeling impacts on rates, rate changes based on age, and more. 5. Apples to oranges — With many moving parts within the average policy, it can be difficult to compare rates and coverage. Improved technology is helping solve some of these issues and deliver an improved experience. A decade ago, the only way to compare insurance rates was to make phone calls, meet with agents and read brochures. Even with the internet, you still need to visit multiple websites and take notes, often entering the same personal information time and time again.

Today, insurance marketplaces make it easy to compare multiple carriers, all at once, with a single application. Customers enter basic information to receive quotes for home and auto insurance coverage from more than 50 top-rated carriers, allowing for a quick, side-by-side comparison of coverage options. “The primary benefit insurance delivers is peace of mind,” said Jeff Wingate, executive vice president and head of insurance for Guaranteed Rate. “If the relationship between an insurance provider and customer begins with stress, confusion and frustration, the provider isn’t delivering the desired service. That’s why we made it easy for consumers to make informed decisions about rates and coverage from trusted and reliable providers.” Life insurance, umbrella, jewelry, flood, pet, landlord and earthquake policies are among the other coverage options available for comparison. Coverage benefits are easy to read with clearly explained terminology and experienced agents standing by to answer questions or assist with purchasing a policy. Visit rate.com/insurance to find more information and explore the insurance marketplace. 

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 EVERY STEP MATTERS:

March is National Ladder Safety Month BUSINESS WIRE

When ladders are used as intended and a few simple rules are followed, their usage can be safe and productive. However, each year, injuries from ladder falls still number in the hundreds of thousands — estimates range from 150,000 to 500,000. Hundreds of people die as a result. Many of these incidents happen at home. But DIY home improvement projects, regular home maintenance,

and repairs that require climbing can be done safely with thorough safety planning and proper training. The American Ladder Institute wants to help reduce these incident numbers and promote safe use of ladders in the home and on the job. Its signature initiative is National Ladder Safety Month, observed every March. All year long, ALI makes available a wide variety of training and tips to make

ladder use safer. One of the latest is a ladder safety video featuring Jennifer Bonner, host of “The Lifestyle List” on WeTV. In the three-minute video, Bonner demonstrates basic ladder safety tips and directs viewers to the many resources ALI has available to aid in safe ladder usage. These resources include ALI’s dedicated ladder safety training site, with a name that is easy to remember:

www.laddersafetytraining.org/. Its comprehensive training modules are designed for the pros — and the perfect way for the public to learn as well. Ladder-users can also visit the Ladder Safety Month website (www. laddersafetymonth.com/SafetyResources/Flyers) and ALI’s main website (www.americanladderinstitute. org/) for a host of ways to get trained on better ladder safety practices. 

A rundown of three popular flooring materials METRO SERVICES

Even though it is underfoot, flooring can set the tone for how a room or even an entire home is viewed. Perhaps that is one reason why flooring generates such strong opinions when homeowners look to refurbish or replace their floors. Homeowners now have more choices than ever when considering new flooring for their homes. The following rundown of three popular flooring options can help homeowners as they try to decide which material best suits their homes.

1. Hardwood floors

Hardwood floors might once have been a relatively straightforward option, but homeowners may now choose between solid wood flooring and engineered wood flooring. According to The Home Depot, engineered wood flooring provides the look of solid wood flooring without the high maintenance of such floors. Engineered wood is manmade and created with the use of wood strands, particles, fibers or veneers of wood that are forged together with adhesives. Each engineered wood flooring plank is composed of several layers of plywood or fiberboard with a solid wood veneer on top, which is how it can provide the look of solid wood flooring. Solid wood flooring planks are made from a single piece of hardwood. Each type of flooring has its pros and cons, and homeowners who prefer hardwood floors are urged to speak with a flooring professional about the features that make these options unique from one another.

2. Laminate floors

Laminate flooring is another engineered flooring product. But unlike engineered wood flooring, laminate flooring does not utilize real wood and many people can recognize that the moment they step on a laminate floor. Flooring is such a vital and heavily trafficked component of a home that it is typically best to leave installation to a qualified professional. However, homeowners who prefer the do-ityourself route should know that laminate flooring is viewed as among the easiest types of flooring for DIYers to install.

3. Vinyl flooring

The experts at Good Housekeeping report that vinyl flooring is the fastestgrowing category of flooring. The Home Depot notes that vinyl flooring is made from plastic and usually consists of acrylic, PVC and similar polymers. Luxury vinyl tile is thick and durable, and it is often noted for its likeness to solid wood. Vinyl tile also is considered a versatile flooring option, as The Home Depot notes it can be purchased in planks, sheets or tiles. The Home Depot advises homeowners to consider the thickness range when mulling their vinyl flooring options. Thickness ranges between four and 40 millimeters, and a thicker layer is more resistant to water, scratches and stains. Homeowners will be confronted with a variety of options when considering a flooring project for their homes. The right option for a given home may come down to a host of factors, including cost, look and durability. 

20 | New Home Buying Guide | Sunday, February 18, 2024

What to know about mortgage preapproval METRO SERVICES

Shopping for — and ultimately purchasing — a home can feel like a day at an amusement park. Much like a ride on a roller coaster, buying a home can be both exciting and a little scary, and those peaks and valleys have been even more profound in recent years, when the real estate market has been as tough as ever to navigate due to low inventory and high prices. Though the real estate market has changed significantly in recent years, some conventional homebuying wisdom still holds true. The importance of mortgage preapproval is one such notion, and it is even likely that being preapproved for a mortgage before making an offer on a home is more significant now than it was as recently as half a decade ago.

What is mortgage preapproval?

Mortgage preapproval essentially confirms to sellers and sellers’

agents that a given buyer has qualified for a mortgage they can use to purchase a property. In a competitive real estate market like the current one, mortgage preapproval can set buyers apart from the competition, increasing the likelihood that their offers will be accepted over ones submitted by buyers who have not been preapproved.

What is prequalification?

Some buyers may hear the term “prequalification” and assume it is the same thing as preapproval. However, the lending experts at LendingTree report there is a notable distinction between the two terms. Prequalification is less formal and based on a casual conversation with a lender that may or may not involve details about a buyer’s credit history, income, monthly expenditures and other pertinent financial information. Preapproval is a formal examination

of a buyer’s finances and financial history that is conducted after documentation such as W-2s and bank statements are provided. A lender also will conduct a credit inquiry through three major credit bureaus during the preapproval process.

How do I get mortgage preapproval?

Mortgage preapproval is a simple process and it is a service offered by most mortgage lenders. A simple phone call or email to a lender can get the process started, and it does not take long for a lender to decide if an applicant qualifies for preapproval. However, insufficient documentation or misleading information can slow down the preapproval process (and potentially cause a lender to deny an application), so prospective homebuyers are encouraged to provide ample and honest documentation of their finances.

Does mortgage preapproval expire?

It can take buyers a long time to buy a home in a competitive market, so it is important that prospective buyers recognize mortgage preapproval has a shelf life of around 60 to 90 days. The preapproval letter a lender provides will indicate an expiration date for the preapproval. If that date comes and goes without buyers purchasing a home, they will have to reapply.

Must I borrow from the lender who preapproved me?

Buyers also should know that a mortgage preapproval does not bind them to the lender who preapproved them. Buyers can still shop around for a mortage once they make an offer on a home. Mortgage preapproval is a vital part of the homebuying process and can be especially useful in a competitive real estate market. 

Sunday, February 18, 2024 | New Home Buying Guide | 21

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What buyers can do to get the best mortgage rate METRO SERVICES

Mortgage interest rates have been headlining financial news segments for several years running. Much of that news has been met with less than open arms as rates have risen dramatically in recent years, an increase that is related to the ripple effect of the COVID-19 pandemic. Mortgage interest rates did not immediately spike after the World Health Organization declared a global pandemic in March 2020. In fact, data from the lender Freddie Mac indicates mortgage rates were still well below 4% on January 1, 2022. However, those rates hovered around 7% by the end of that year and were still around that level at the start of 2024. With such high interest rates, it is understandable if prospective homebuyers feel helpless. However, there is much buyers can do to help themselves as they seek to secure the lowest mortgage interest rate possible.

Read your credit report and improve your score, if necessary

Many prospective homebuyers save up for years in anticipation of the day when they will purchase their own home. During this period, buyers can read their credit reports and address any discrepancies while taking steps to improve their credit scores. Lenders consider a host of variables to determine an applicant’s credit worthiness, and credit history and credit scores bear significant influence. The higher an applicant’s credit score, the more favorable mortgage rate he or she is likely to get.

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Please contact Leah Wells for more information Phone: 719-492-1109, email: leah.wells@americanhomeagents.com 22 | New Home Buying Guide | Sunday, February 18, 2024

Take control of your debt-to-income ratio

Debt-to-income ratio refers to what you owe in relation to how much you earn. The lower your DTI, the better you look to lenders. According to Bankrate, lenders typically want to avoid issuing mortgages to individuals if the monthly payment will exceed 28% of their gross monthly income, and people who may be near that threshold for a given home may be denied a mortgage if their DTI is high. Prospective homebuyers currently carrying significant debt, including consumer debt like credit cards and/ or student loan debts, should make

a concerted effort to pay down that debt prior to applying for a mortgage. Prioritize paying off consumer debt before applying for a mortgage.

Maintain a strong employment record

Steady employment and consistent earnings make mortgage applicants more attractive in the eyes of lenders. If you are currently shopping for a home or about to make an offer, now might not be the best time to switch jobs. Self-employed individuals and freelancers working multiple jobs can still qualify for a good mortgage rate, but they may need to provide more extensive documentation that indicates their earnings going back several years. Individuals who have been working full-time for the same company for years may only need to provide W-2 forms from the two most recent tax years.

Shop around for rates

Mortgage rates may not fluctuate much between lenders, but it is still worth shopping around. A study from Freddie Mac found that the benefits of shopping around for a mortgage rate were especially notable in 2022 compared to the decade prior, saving borrowers who took the time to shop for rates substantial sums of money. Mortgage rates remain high compared to a half decade ago, but prospective homebuyers can take steps to increase their chances of qualifying for a favorable rate. 

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