August 18, 2004
Putting the “home” in home theater, literally. I’ve noticed a trend among some new home buyers, their actually rolling their home theater into the mortgage. Not so much with remodels or second owner homes, but more and more we’re seeing new clients have their builder contract with us, to do the entire pre wire and post construction installation, and just roll it into the mortgage.
Think about it, with as little as an additional 4 to 5% of the average price of a new home, you could have a state of the art home theater, without racking up the debt on a charge card. Now obviously this wouldn’t make sense for all home buyers, especially first timers or if the value couldn’t be recouped in a sell, but it is an option. Several of the mortgage brokers that regularly work with our clients, say that this type “mortgage roll in”, isn’t that abnormal, and really isn’t much different than having the builder add a Jacuzzi, pool or other luxury item.
Posted by Bryan Greenway | | Filed Under Home Theater Construction