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Tankless Water Heaters

How They Work

Tankless water heaters heat water directly without the use of a storage tank. When a hot water tap is turned on, cold water travels through a pipe into the unit. Either a gas burner or an electric element heats the water. As a result, tankless water heaters deliver a constant supply of hot water. You don’t need to wait for a storage tank to fill up with enough hot water. However, a tankless water heater’s output limits the flow rate.

Typically, tankless water heaters provide hot water at a rate of 2–5 gallons (7.6–15.2 liters) per minute. Gas-fired tankless water heaters produce higher flow rates than electric ones. Sometimes, however, even the largest, gas-fired model cannot supply enough hot water for simultaneous, multiple uses in large households. For example, taking a shower and running the dishwasher at the same time can stretch a tankless water heater to its limit. To overcome this problem, you can install two or more tankless water heaters, connected in parallel for simultaneous demands of hot water. You can also install separate tankless water heaters for appliances — such as a clothes washer or dishwater — that use a lot of hot water in your home.

Many homeowners, however, see benefits of a tankless water heater beyond energy savings.

Hot water on-demand

Tankless water heaters are known as demand-type water heaters, they provide hot water only as needed.  They don’t produce the standby energy losses as the standard water heaters so in turn it saves you money! You also never run out of hot water!

Earth-friendly Benefits

Tankless technology allows maximum energy efficiency and reduces your carbon foot print.These heaters also save space with a compact design, last longer and are better for the environment because a rusty tank doesn’t end up in the landfill.

 

Click to see why choosing McKee Homes is a SMART MOVE and all the other options we offer including being Apple Homekit compatible!

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New Home Plumbing and Lighting Fixtures

When it comes to personalizing a new construction home, choosing plumbing and lighting fixtures is near the top of the list for most home buyers. McKee Homes installs Delta plumbing fixtures and Kichler lighting fixtures in all our new homes, so you can rest assured that you are getting a great product. Of course if you want to upgrade the fixtures and finishes in your new home, we have you covered there as well.

Plumbing

The plumbing standard for our Contemporary level homes is chrome finish Peerless for kitchen and baths. We offer nickel finish Leland in the kitchen with a choice of Linden, Ashlyn and Lahara styles for baths in our Signature level homes.

Plumbing upgrades include different finish options such as chrome, brushed nickel, matte black and Champagne bronze. All of the finishes are durable, easy to clean, won’t show fingerprints or water spots and match well with accessories and other fixtures.

For the kitchen there are touch activated options and pot filler and soap dispenser options.

Bathroom options include a Slide Bar hand shower, rain shower heads and even shower heads with new H2Okinetic Technology which sculpts the water into unique wave patterns giving the feeling of more water without using more water.

Lighting

McKee Homes offers four standard lighting package choices for our Contemporary level homes and seven for our Signature level homes. Of course there are many upgrade options as well including pendant lighting in the kitchen, ceiling fan upgrades and foyer and dining fixtures.

Indoor lighting from Kichler may include chandeliers, pendants, bath lights, ceiling lights, wall sconces, flush fixtures, cabinet lighting and ceiling fans.

lighting upgrades

Courtesy of Kichler

New Home Selections

When you buy a McKee Homes, one of our expert selections coordinators will invite you for an enjoyable visit to our design studio where you can touch, see and experience plumbing and lighting fixtures as well as floor coverings, cabinets, exterior finishes and more.

For more information about McKee Homes plumbing and lighting fixtures, please visit our design studio web page or call us at 910-672-7296

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What Is A HECM Loan?

If you are close to retirement age and have been looking into downsizing your home or various refinance options to increase financial stability, you may have come across something called a HECM loan. So, exactly what is a HECM loan?

The HECM (Home Equity Conversion Mortgage) for Purchase loan option is for homebuyers who are age 62 or older. HECM is a type of Reverse Mortgage that allows the homebuyer to purchase their dream home without making any monthly payments. Depending on the buyer’s age, they will need to provide a down payment of anywhere from 35-50% of the purchase price and never make another mortgage payment for as long as they live in the home. There is also a refinancing option for those who wish to use the HECM loan program but want to stay in their current home.

Some advantages of a HECM loan over a traditional 30 year mortgage or paying cash are:

  • Compared to traditional financing, you can increase your income each month by not having to make a mortgage payment.
  • Under many circumstances, you don’t have to wait until your current home sells to use the program.
  • Purchase your next home without depleting a large portion of your life savings.
  • Interest gets added to loan balance.
  • Closing costs are included in the mortgage.
  • The HECM is the only program that if the home ever sells for less than the loan balance, neither the borrower nor the estate is responsible for paying the difference.
  • Use money saved from no monthly mortgage payments to invest, travel, spend on family, or any unexpected expenses.
  • Similar to paying cash, you are only responsible for paying property taxes, insurance, and any homeowner association fees, as well as maintain the property. However, with paying cash, you would put more money upfront for the same benefits as the HECM for Purchase.

What are the qualifications for a HECM loan?

  • You or your spouse must be 62 or older.
  • The home you are purchasing must be your primary residence.
  • Per HUD guidelines, down payment funds must come from your verified assets, including, but not limited to traditional bank accounts, investments, 401K, CD’s, money market account, money made from sale of current home, or a gift.

What types of homes are eligible for the HECM for Purchase program?

  • Single Family Home (existing or new construction)
  • Condo
  • PUD (Planned Unit Development)

What are the homeowner responsibilities?

There are only a few items you will need to take care of once you move into your new home after closing. These include:

  • Property Taxes
  • Homeowners Insurance
  • Flood Insurance (if applicable)
  • Homeowners Association Dues (if applicable)
  • General maintenance of the home

Other advantages of the HECM for Purchase program include:

  • Asset protection
  • Independent HUD counseling
  • Title to home stays in borrower’s name
  • No pre-payment penalty
  • No maturity date
  • You can stay in your home until the last borrower vacates

Each person’s financial and life situations are different so it’s a good idea to investigate all your options before choosing your next mortgage. If you are interested in learning more about the HECM for Purchase program, ask your lender if they offer HECM loans and have them go over the advantages and disadvantages of HECM versus other types of mortgages with you.

If you are interested in using the HECM for Purchase program to purchase a McKee home, please contact us at 910-672-7296 for more information or to set up an appointment to go over the program, answer any question you may have and find out what you can expect during the entire loan process.

If you are thinking about down-sizing and looking for a single-story or ranch-style home for ‘aging in place’, please visit our single story homes web page for floor plan and neighborhood information.

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Lanvale Forest New Home Community in Leland, NC

Lanvale Forest by McKee Homes is a charming community of new homes that boast both quality and value.

Lanvale Forest is nestled in the heart of North Brunswick County only minutes from Downtown Wilmington. The Community offers a pool and bath house, sidewalks and street lights.  Enjoy living near Wilmington with the lower cost of living & taxes that are associated with the town of Leland.  Leland is a new, up and coming area that gives residents the convenience of proximity to Wilmington while choosing from a variety of beaches in either Brunswick or New Hanover County.

Lanvale Forest Video

With 1,300-2,400 square feet homes starting in the mid $100’s just a short drive from downtown Wilmington and some of the best beaches in the area, it’s easy to understand why Lanvale Forest is such a popular community.

The Leland/Wilmington area is a fantastic place to explore with your family and show off to visiting guests. From strolling brick-lined streets to splashing in the sea at Wrightsville Beach, there’s something for everyone. There’s also Battleship North Carolina – a time capsule of 70-year-old naval history for you to explore. And Middle Sound Marina is a beautiful, hassle-free place to launch your boat.

After a day of work or play, come home to the tranquil streets of Lanvale Forest. The community has its own private pool and bathhouse for splashing with the kids and catching up with the neighbors.

Elegant home exteriors give a welcoming first impression, with charming entries and professional landscaping. Step inside and you’ll find large, spacious layouts with designer details such as decorative light fixtures, cottage-style arched doors, granite counter tops and stainless steel appliances.

From the beach life to a quiet haven, have it all at Lanvale Forest by McKee Homes – a place your family can grow for years.

Location: Old Forest Dr NE, Leland, NC 28451

Price Range: From the high $100’s
Sq.Ft. Range: 1,300-2,400 Sq.Ft.
Schools:
Elementary School: Town Creek
Middle School: Leland
High School: N. Brunswick

Amenities: Pool and pool house

Lanvale Forest Location Map
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Legacy Lakes Golf Club Community in Aberdeen, NC

As you enter the stunning Legacy Lakes golf club community in Aberdeen, NC you realize why so many have decided to call it home. Legacy Lakes is nestled in the heart of the Sandhills and provides easy access to all that this wonderful area has to offer. Legacy Lakes is just a short distance from downtown Southern Pines and The Village of Pinehurst. Both towns are charming, historic areas that feature local shops, arts and many restaurants. Legacy Lakes is also a short commute to Ft. Bragg and Camp Mackall, making it a unique place to call home for our local service members.

Watch Video to see amenities and homes in Legacy Lakes.

Legacy Lakes Video

Here at Legacy Lakes you have all the amenities at your fingertips. Panoramic views of the Legacy Links golf course is just one of the perks of living in a golf course community. The Sandhills region of North Carolina is a golf mecca featuring over 40 championship courses. Right here inside Legacy Lakes there is a 4.5 star, Jack Nicklaus Design Group golf course that has ranked one of GolfWorld’s top 25 public courses. If golf is not your thing, don’t worry! We have a wonderful clubhouse, pool, fitness center, Pilates studio and 6-clay tennis courts for you to enjoy.

McKee Homes features two different sections of homes inside Legacy Lakes. We offer single family homes in the patio-lot section with sizes ranging from 1,700-3,600 square feet and our newest project, The Preserve at Legacy Lakes, features 20-golf front lots that will feature single story homes geared to the active adult lifestyle with sweeping views of the 2nd and 3rd holes of The Legacy Links golf course.

No matter what cycle of life you are in, McKee Homes offers a comfortable, affordable, home for you to enjoy inside Legacy Lakes. Many of the residents gather for special events hosted by the HOA throughout the year, to include a movie night by the pool, live music on the activity lawn and the annual holiday party at the clubhouse. Homeowners even host their own residents’ happy hour at the clubhouse once a month.

Amenities

  • Golf-Course: Nicklaus Design Legacy Golf Links
  • Clubhouse: Clubhouse with fitness center
  • Tennis: 6 lighted clay courts
  • Pool: Ourtdoor Swimming pool
  • Nature: 3 natural lakes and walking trails

Model Home Hours
Mon, Tue, Fri, Sat: 11 am ─ 5 pm
Sun: 12 pm ─ 5 pm
Wed, Thu: By Appointment Only

legacy lakes map

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Will interest rates continue to rise in 2017?

The 30-year fixed-rate mortgage rose by just over a quarter of a percent recently to around 4 percent. That’s the largest one-week increase in over three years. What does that mean for home buyers? Will interest rates continue to rise in 2017?

Even though the rate hike has many home shoppers hitting the pause button on signing up for a new home mortgage, it’s important to remember that the rates are still at an historic low. In case you’re a Millennial and don’t remember interest rates above 7 or 8 percent, the rates in the 1980’s were in the teens. Although they’ve been historically low for the last six years, you have to go back 60 years or more to find interest rates below five percent before 2010. I got my first mortgage in 1992 and was thrilled to get 9.9 percent on a fixed rate loan. I would have killed for 4 percent.

Will interest rates continue to rise in 2017? The most likely answer is yes, but that’s not necessarily a bad sign. Generally speaking when the economy is strong the interest rates go higher, and when times are economically tough, the Fed lowers the rate in order to make it easier for consumers and businesses to borrow and spend, which pumps more money into the economy to help it recover.

So, if you are considering buying a new home in 2017, should you buy or should you wait? Most mortgage advisors would recommend locking in your rate as soon as possible to get the best rate.  It’s important to remember that your credit score is probably a much larger determining factor in what rate you might pay when getting a mortgage than the benchmark interest rate at this point. So, make sure to manage your credit rating and don’t make any large purchases on your credit cards or buy a new car anytime soon if you plan on buying a house this year.

McKee Homes works with a few mortgage companies which we refer to as our preferred lenders. These companies all provide excellent customer service and are going to give our homebuyers the best rates so they get a mortgage that works for them. We continue to see very positive survey reviews from our homebuyers in regards to our preferred lenders. In fact we pay all closing costs when buyers use one of our preferred lenders, and to lighten the sting of the interest rate hike, we are even giving our homebuyers free blinds and an upgraded refrigerator on all homes that are currently under construction or move-in ready until March 31, 2017.

For more information on our preferred lenders and our buyer incentives, please visit our Buyer Incentives web page or give us a call at 910-672-7296.

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Finished Bonus Room or Guest Suite

Is it worth the cost to add a finished bonus room or guest suite to your house or when building a new home?

There are many reasons people consider adding a finished bonus room or guest suite to their house or new home construction project.

  1. They are about to build a new home and it is cost effective to add the additional space.
  2. They have an existing home but need more space or want to add to the resale value of the home.
  3. They need an another bedroom/bathroom to accommodate additional family members such as a new child, older kids moving back home or aging parents.
  4. One or more persons work from home and need a large office with plenty of storage.

These are just a few of the many reasons you may want to add on to your existing home or include a finished bonus room when building a new home. So, how do you know if it’s worth the cost to add a finished bonus room or guest suite to your home?

A bonus room is generally built in the attic, often over the garage, in a house that has a steep roof pitch to allow for living space to be built. A guest suite is generally added to the first floor of a home and requires additional foundation and exterior walls making it a more expensive option.

Existing Home

If you are adding a finished second or third floor bonus room or a guest suite to an existing home it’s important to consider whether you plan to resell the home in the near future. If the additional square footage and cost makes your home larger and more expensive than most of the other homes in your neighborhood, it might make it difficult to sell, or you may not recover the cost for the addition. However if you plan on staying in the home over a long period of time, and you need the space, it would probably cost less to add to your home than to sell it and buy a larger home.

Bonus room additions are generally more affordable than adding a guest suite because there is no foundation work involved. And since they don’t increase the footprint of the home, they provide a better option in areas where variances would need to be granted for first floor expansion.

Another thing to consider with a guest suite is if you have a septic system or sewer. If you have a septic system, adding an additional bedroom/bathroom might mean having to increase the size of the septic tank and leach field which would add quite a bit to the cost of the project and to your investment in the home.

New Construction

If you are building a new home the cost to finish a second or third floor bonus room or guest suite is going to be less than adding it to an existing home, and the work can be done during the construction of the house, so no mess and inconvenience while living in the home.

With a bonus room you also have the option of putting in the plumbing for a bath and having the walls framed, but leaving it unfinished until you need the space, to save money initially. It doesn’t cost that much to get the rough plumbing and framing done while the house is being built and it will save a lot of money later on if you end up finishing the space. If you’re handy with that sort of thing, you can even finish it off yourself.

Talk with your builder, selections coordinator and lender to find out if it’s worth the extra cost to add the additional square footage to your home before you begin building a new home. If your home is one of the smaller homes in the neighborhood, it is probably a good idea to add a finished second or third floor bonus room or first floor guest suite which would give you more space for a growing family and probably make the home easier to sell if the need arises.


McKee Homes is the New Home Builder of Choice in North Carolina
At McKee Homes, we realize that our most important asset is our customers. We have created processes for home construction, selections, and closings that include as many touch points with our home buyers as possible.  We are currently building new homes in  Fayetteville, Pinehurst, Raleigh and Wilmington NC.

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Should I Buy a New Home Now or Later?

If you’re like many people, you may be asking yourself should I buy a new home now or later? While there are many things to consider when asking this question, here are a few things to get you started:

  • Are you in a good place financially?
  • Are you ready to be your own landlord?
  • Are you committed to staying in one place?

If you answered yes to these questions then you may be ready to buy a home. The next question you may ask yourself is should I buy now or later? With interest rates still at all time lows, that may sway your opinion. Maybe, knowing that Freddie Mac predicts that by January 2017 interest rates will rise to 4.5% or that CoreLogic predicts that home prices will increase by 5.5% over the next year may help make your decision to begin the home search now. If you wait until next year, that $250,000 budget you have would need to increase by $13,750 to get the same home.

Should I Buy a New Home Now or Later

If you have questions about the home buying process or what McKee Homes has to offer, contact us today and we would be happy to answer your questions.

Additional Source: Forbes.com

 

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McKee Homes Featured in Builder and Developer Magazine

McKee Homes is featured in Homebuilders Prosper with Epcon Franchising, a recent Builder and Developer Magazine article about Epcon Franchise Builders.

According to the Builder and Developer article Another Franchise Builder, Pat McKee, owner of McKee Homes has seen success with Epcon Franchising as well. Since 2007, McKee has been a developer and homebuilder in the Fayetteville, N.C. market.

Most recently he is responsible for developing and building one of Fayetteville’s most successful communities, The Cottages at North Ramsey. He attributes part of its success to being an EpconFranchise Builder. McKee sold close to 100 homes last year and 150 this year, becoming a large regional builder in [the] Fayetteville area.

Epcon is a home building company offering franchises to other builders dedicated to serving the luxury, low-maintenance, ranch-style home niche for consumers looking to downsize from their existing home. Epcon is the 38th largest homebuilder in the nation and is the 19th largest privately-owned homebuilder. Franchise Builders have sold more than 28,000 homes since 1986.

In addition to the Builder and Developer article, McKee Homes has been featured in Epcon articles about their Franchisees and Epcon’s Pathways of Hope Foundation.

How Epcon Franchises Enables Home Builders to Quickly Grow from Niche to Regional Markets features Pat McKee, owner and President of McKee Homes. This article is largely an interview with Pat McKee (see video below) about the advantages of being an Epcon Franchisee. According to the Epcon article Traditional single-family home builder Pat McKee was able to quickly become a large regional builder with assistance from the Epcon homebuilding franchise system.

“Our depth of knowledge is difficult to achieve. Large regional builders often partner with Epcon to develop specific sections within their developments because they recognize that Epcon is the best way to satisfy a particular market niche,” says Rob Krohn, Epcon’s Franchise Marketing Manager.

On the move and moving up: Epcon Communities Franchisee Pat McKee gives back to NC residents by Nanette Overly covers McKee Homes’ commitment to giving back to the community, especially as it relates to their work with the Alzheimer’s Association® through the Joe McKee Memorial Alzheimer’s Fund and sponsorship of the Fayetteville Walk to End Alzheimer’s. From 2011 to 2016, McKee Homes has donated approximately $135,000 to the Alzheimer’s Association® through the Joe McKee Memorial Alzheimer’s Fund.

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McKee Homes Epcon Communities

McKee Homes is currently developing over 20 communities in Eastern North Carolina, three of which are Epcon communities.

What’s an Epcon community? Epcon is a home building company offering franchises to other builders dedicated to serving the luxury, low-maintenance, ranch-style home niche for consumers looking to downsize from their existing home. The homes are specially designed with high-end features and options and built with 36″ wide doorways inside the house and easy access with no stairs between the inside and outside areas. With an Epcon home, homebuyers know they can live in the home into retirement without having to make any modifications to their home.

The Salerno floor plan

McKee Homes offers Epcon homes in The Cottages at North Ramsey in Fayetteville with all exterior home and yard maintenance taken care of by the HOA. It’s an ideal situation for busy professionals, military families and retirees who don’t want spend their free time maintaining their home’s exterior and yard.

We also offer Epcon homes in The Cottages at Carriage Creek and Carriage Glen in Anderson Creek Club where landscaping and yard maintenance is taken care of by the neighborhood association. With all the luxury amenities of a golf club community available there, it’s a real benefit to homeowners not to have to spend their weekends maintaining their yards.

Epcon Communities Franchising Inc. (Epcon) celebrates two important milestones in 2016: 20 years of franchising anchored on a rock-solid foundation of 30 years of homebuilding experience.

“Over the past 30 years, we’ve mastered the concept of low-maintenance, lifestyle housing down to a science,” says Tim Rini, Vice President of Franchising, “Population demographics indicate that we’re just now at the tip of the iceberg in terms of demand. As we celebrate these important milestones in Epcon’s history, we’re ready to meet this underserved market with fast-to-market, winning home solutions for our Franchise Builders.”

Read more about Epcon

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