Q1. Is a 3D tour available?
Yes. Explore our 2-family model interiors via these 3D tours, which closely represent our offerings. Interior styles are consistent across models, with variations mainly in exterior design.  
- 3D Tour Link 1: https://my.matterport.com/show/?m=q3hk2KRxePH
- 3D Tour Link 2: https://my.matterport.com/show/?m=Huo7ostU2cx

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Q2. What's the current inventory?
For the most up-to-date inventory, please visit our website www.jerseynewhomesource.com, or contact us at 914.505.2941. Properties often sell before completion, so reach out promptly to secure your new home. Explore ongoing constructions on our YouTube Channel.

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Q2.1. Does the developer prioritize quality?
Absolutely. With over 40 years of experience, Manny Rosa Signature Homes is renowned for its quality construction and includes over 50 premium upgrades in every home. Learn more about our commitment to excellence at www.rosaagencyrealty.com/our-story

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Q2.2. What does the future hold for the area?
The area is undergoing significant transformation and investment, promising a bright future akin to Williamsburg in Brooklyn. Proximity to major highways, Newark International Airport, and quick train access to NYC enhances its appeal. Discover more about Newark's development at www.newyorkyimby.com/neighborhoods/newark

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Q2.3. How does the school system rank?
Newark boasts several top-tier charter schools nationally recognized for excellence. For more information, read this article: www.patch.com/new-jersey/newarknj/3-newark-schools-among-100-best-high-schools-nj-report

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Q3. Is there a warranty?  
Yes, we offer a comprehensive 2-10 year warranty for peace of mind.

 

Q4. Is tax abatement available?
Indeed, eligible new homes can benefit from a 5-year tax abatement program, offering significant tax savings over time.

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Q5. What's the required down payment?
We partner with banks and lenders familiar with FHA loans, requiring as little as a 3.5% down payment for qualified buyers with a FICO score 620+.

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Q6. What are the expected rental returns?
A 3-bedroom, 2-bathroom unit with a garage rents for between $2,500 - $2,6500, reflecting the area's strong rental market.

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Q7. Are upgrades included?
Yes, over 50 luxury upgrades are standard, enhancing every aspect of our homes from the all-brick exterior to the energy-efficient interiors and premium kitchen finishes.

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Q8. Can I see videos of the properties?
Certainly, visit our YouTube Channel to view videos showcasing our properties, including a brand-new 2-family home.

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Q9. Are these homes available for Rent-to-Own? 
No, our homes are available for purchase only. We do not offer a Rent-to-Own option.

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Q10. What qualifications are needed to purchase?  
Prospective buyers should have a credit score of 620 or higher and be prepared for a down payment of at least 3.5%.

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Q11. How much does a new two-family home cost?  
Our 2-family homes start at $749,000, with qualified buyers potentially eligible for a 3.5 - to 5% down payment program.

 

Q12. Are there brand new homes in other cities besides Newark?  
Yes, absolutely! While we feature stunning new homes in Newark, there are brand-new properties available in other cities as well. However, it's important to remember the real estate mantra: location, location, location. For example, a brand new single-family home in Kearny or a two-family home could be priced around $950k, and in Hoboken, prices can exceed a million. It all depends on where you're looking to invest and reside. Typically, up-and-coming areas offer the most significant growth potential, making them an exciting option for those looking to maximize their return on investment.

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Q13. What is the average price of these properties? 
Properties start at around $745k to $800k as of today. It's important to note that prices reflect current market conditions and can adjust at any time. Homes with more features, premium lots, and those situated in more desirable locations typically fall on the higher end of this range. This pricing structure ensures a range of options to suit different preferences and budgets, while always considering the value of location and amenities included.

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Q14. Can I customize my home before construction is completed? 
Unfortunately, no. While our homes are built to the highest standards with premium features, we do not offer customization options. This policy ensures each home maintains a cohesive aesthetic and quality level, aligned with Manny Rosa Signature Homes' reputation. The decision also stems from practical considerations; not every buyer may be able to close on the property, making it challenging to sell a customized home. Rest assured, each home is designed with the finest finishes and features to meet a wide range of preferences and needs.

 

Q15. Can I visit the property in person? 
We offer comprehensive 3D tours and videos of our properties to provide a detailed view of our homes, especially useful since our properties are often under construction or sold by the time they are completed. This means there is limited opportunity to view inventory just sitting on the market. However, the first step for interested buyers is to get pre-qualified or provide a pre-qualification letter. Once we have that, we can show all available inventory within your price range. This process ensures that we efficiently match potential buyers with their ideal property.

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Q16. How long does the construction process take after the foundation is started? 
Once the foundation is laid, the construction process for our homes typically takes approximately 6 months to complete. This timeframe allows us to ensure that each home is built to our high standards of quality and craftsmanship, while also moving efficiently towards completion to meet our buyers' expectations.

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Q17. Are there financing options available?  
Yes, we work closely with reputable lenders who offer a variety of financing options to suit different financial situations. Whether you're interested in traditional mortgages, FHA loans, or other financing solutions, our team can guide you through the available options to find the best fit for your purchase.

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Q18. What is included in the warranty?  
Our comprehensive 2-10 year warranty covers major systems, structural integrity, and workmanship of the home. This warranty is designed to give homeowners peace of mind by ensuring that any concerns related to construction quality are addressed promptly and professionally.

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Q19. How does the tax abatement work? 
The 5-year tax abatement program reduces property taxes for the initial years following the purchase of a new construction home. In the first year, there is no tax on the building. Taxes gradually increase each year, reaching the full property tax rate in the sixth year. This program offers significant savings and makes new construction homes an attractive investment.

 

Q20. Can I sell the property before the tax abatement period ends?
Yes, the tax abatement benefits are transferable to the new owner if you decide to sell the property before the end of the abatement period. This feature adds value to your property, making it an appealing option for potential buyers looking for new construction homes with tax incentives.

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Q21. Do you have 3-family homes available?
Our inventory for 3-family homes is currently very limited due to new regulations in the city. We are in the process of getting approval to start construction on a 3-family home. While the price has not been officially released yet, based on early inputs, we anticipate it will be around $950k, aligning with the current market rate for 3-family homes. This information will be updated as soon as more details are available.

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