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Is Fall 2022 Still A Good Time to Buy A Home?

So many of us are asking the same question right now: Should I buy a house now or wait until 2023? The short answer is, buy now! If you have the means, consider buying this fall.

The complicated answer is that this simple question depends on a number of factors around your family’s personal circumstances. However, on the whole, most experts and first-time homebuyers agree – it’s still a prime season for buying a home in Prosper, Celina, or Collin County.

Unlike some parts of the US, the DFW housing market is in a great place. The North Texas area is still in high demand, particularly because of its many new home communities.

Trying to decide whether to buy a house now or wait? Don’t wait too long and miss your opportunity. Consider these variables as you kick off your home search.

5 Reasons Why Now Is the Time to Buy A House

If you’re in a good financial position and your job is secure, it can be a great time to invest in a home. Ask any financial expert and they’ll tell you, owning a home or investing in real estate is the fastest route to building wealth.

Some reasons to buy a house now:

Credit score averages are on the rise.

Credit reporting agency, Experian, reports that, “The average credit score in the U.S. hit a record high of 714 in the third quarter of 2021, a 4-point increase from 2020.” Higher credit scores qualify buyers for the lowest interest rates. If you’ve been working on yours, now could be the time to cash in on the effort.

Interest rates tend to fall in the fall.

While it’s true that interest rates have gone up since their historic lows, they are still comparatively great. Plus, rates historically reach their lowest points of the year in Q4. What’s more, given where interest rates were just ten years ago, the average monthly mortgage payment has actually decreased. (Be sure to check the proposed tax rate in your area to get a better idea of your final amount.)

New build inventories are high.

The rush isn’t over, but home inventories are finally starting to catch up from where they were at the height of the buying frenzy. That’s especially true in new home communities like Lilyana by Hillwood, who have available homes from multiple top DFW homebuilders. That means more variety and inventory to choose from, making it a really a good time to buy.

Competition is cooling.

If the thought of engaging in a bidding war gives you pause, you’re certainly not alone. It can drive up the sales price of a home and draw out the time it takes to find your new space. Fortunately, data shows most homes have fewer bidders per listing right now. The National Association of REALTORS® reports that homes for sale are getting half as many offers as compared to Spring.

DFW has a strong job market.

If you’re going to buy a house, you really want job security. Plain and simple. Though no one can predict the future, Dallas and its many suburbs have some of the strongest job markets in the country, making it a great place to find opportunities. In fact, a recent report from the Bureau of Labor Statistics showed the local job gain rate increased 6.7%, almost double the national average.

Should you buy a house in 2022 FAQ:

  • When is it too late to buy a home? As a rule of thumb, most financial professionals recommend spending no more than 30% of your gross monthly income on housing expenses. Once you exceed that threshold, you may need to wait until interest rates and/or home prices drop.
  • When is it a good time to buy a house? The housing market has seasons. Generally, fall can be a less competitive time to buy a home. Sales prices and interest rates also historically tend to be lower during this time frame.
  • Will 2023 be a good time to buy a house? Given how cagey the government has been about the economy, it’s unclear what the 2023 housing market will look like. Stay tuned to see what the federal reserve decides to do with interest rates.
  • Is it better to buy a house in 2022 or in 2023? If you can financially afford it and the time is right for your family to settle, consider buying in 2022 to avoid potentially increasing interest rates in 2023.

Buy a New Home at Lilyana by Hillwood + Invest in Your Future

So, final verdict. Is it a good time to buy a home or is now a bad time to buy a house? You have our opinion, but do your own research and take your personal financial situation into account before deciding.

Just remember – things change quickly in real estate. Celina is the fastest growing city in North Texas, keeping attractive new home communities like Lilyana in high demand. That’s not only good for future resale value, it’s also a great place to settle and ride out whatever the economy does next.

Want to chat through your options and run your situation by a knowledgeable professional? Contact our builders for more information or take a virtual tour to see what Lilyana by Hillwood is all about!

Four of the Best Suburbs in Dallas for New Homes

The best places to live in Dallas, Texas aren’t necessarily within the city’s limits. Often, you’ll find them a bit farther out. The best suburbs of Dallas are just far enough out to feel like small towns while still giving you the convenience of being near a big city. Of all the many wonderful communities on the top Dallas suburbs list, Lilyana by Hillwood in Celina, Texas is a popular favorite.

Let’s take a closer look at some of the best suburbs in the Dallas area and what sets them apart.

Four of the Best Areas in Dallas to Live

As people move away from large cities, new home communities in suburban areas have seen tremendous growth. These suburbs have all of the benefits of being near a major metropolitan area while still maintaining a rural atmosphere. Great school districts, a reasonable cost of living, and a higher quality of life are all qualities shared by the best Dallas suburbs.

In no particular order, the following suburbs are some of the best places to live near Dallas, Texas.

1. Melissa, Texas

The population of Melissa, Texas has roughly tripled since 2010, making it one of the fastest growing cities in the area. It offers a small-town feel with plenty to do where people can work, enjoy their favorite leisure activities, and live life to its fullest. The historic farmers market in town and five beautiful parks provide excellent ways to spend an afternoon, and Melissa’s proximity to McKinney, Frisco, and Dallas mean the convenience of the city is just a short drive away. The excellent Melissa ISD provides exceptional instruction, athletics, and extracurricular activities for the town’s younger residents.

2. Little Elm, Texas

With lots of growth and new home construction going on, Little Elm is another great Dallas suburb to settle in. The town has a great atmosphere with a number of parks, local museums, and events to enjoy, providing plenty of opportunities to connect with others. Little Elm has various economic development projects underway, including a new lakefront development that will take advantage of the town’s presence on Lake Lewisville. Children of Little Elm attend public schools within Little Elm, Frisco, or Denton ISD schools, depending on their home address.  Each of these districts offer a quality education and a wide variety of athletic, fine arts, and extracurricular programs.

3. Prosper, Texas

Prosper is located just north of Dallas in close proximity to Fort Worth. With a population that has grown more than 200% since 2010, the city is thriving along with the other suburbs in the area. Proximity to Dallas and Fort Worth means there are plenty of exciting employment opportunities, and the city has recently set out a plan to reimagine its historic downtown area, including introducing more space for new businesses.

With an abundance of parks and trails, several local wineries, boutique shopping, locally owned restaurants, and a calendar full of festive local events, there is plenty of fun to be had in Prosper.

The acclaimed Prosper ISD, which serves families in Prosper and some parts of Celina, boasts excellent, tenured teachers with an average experience level of 10 years. Children attending Prosper schools enjoy a student to teacher ratio of 15.8 to 1 and have one of the highest graduation rates (99.1%) in the state.

4. Celina, Texas

Celina is a rapidly growing community with plenty to offer residents. In 2020, the population had reached over 16,000 people, and that number is estimated to be more than 23,000 now, according to the U.S. Census. The economy in Celina is thriving, with 5,740 people employed within the city, and its close proximity to Dallas makes it an excellent spot for those looking to build their careers in the North Texas region.

Celina is home to various attractions, including the historic downtown commercial area, several lovely parks, and a few wineries in and around the city. The highly acclaimed local school district—Celina ISD—is known for its commitment to embracing excellence.

FAQs on Dallas Suburbs

Is Dallas a nice place to live?

Dallas offers many opportunities for a prosperous and fulfilling lifestyle, and with a population of nearly 1.3 million, it has seen a fair amount of growth over the last ten years. The real growth, however, has occurred around Dallas’s suburbs as more economic opportunity and great communities have developed in the area.

Is Dallas expensive to live in?

The cost of living within the Dallas city limits is slightly higher than the national average, however the cost of living in the best suburbs of Dallas is lower than the national average. For example, the cost of living in Celina, Texas is 17% lower than the national average according to payscale.com. Many who move into Dallas suburbs do so for lower housing expenses, which have a median value of around $230K, as of 2019.

What is the best place to live in the Dallas-Fort Worth area?

Anyone wondering where to live in Dallas, TX should consider a place that offers a great sense of community, convenience, and proximity to opportunities for both work and relaxation. Green spaces, stellar amenities, and great neighbors add to the quality of life in these communities, making them perfect for anyone moving into the Dallas-Fort Worth area.

What do I need to know before moving to Dallas?

Before moving to Dallas, be prepared for the variety of communities around the city. Each place has its own vibe, so you can choose the spot that best matches your needs before settling down. There are also plenty of opportunities to work, learn, play, and relax, so do some research and find the community that appeals to you the most.

Lilyana by Hillwood – One of the Best Neighborhoods in Dallas

When looking for great Dallas neighborhoods in which to settle down, Lilyana by Hillwood in Celina within Prosper ISD is an excellent option with various parks and trails, a catch and release fishing pond, and miles of beautiful Texas landscape to enjoy. These amenities, including a future on-site Prosper ISD elementary school, and its great location make it perfect for anyone looking for an excellent new home community.

If you’re considering moving to one of Dallas’s suburbs, consider Lilyana by Hillwood. Built for community and lifestyle, Lilyana is one of the best neighborhoods in Dallas with beautiful new construction homes built by DFW’s premier homebuilders. Our community offers plenty of ways to get outside, relax, and connect, whether you’re enjoying the outdoor green spaces or visiting with friends and neighbors. Browse for your new home online or get in touch to learn more!

6 Things That Make a Good Neighborhood Great

Not all neighborhoods are created equal. How do you find a great neighborhood for your family, especially now when home inventories are at record lows?  What should you look for in a neighborhood?  Many things can make a neighborhood good like attractive homes and steady home values. While no two neighborhoods are going to be exactly alike, the best ones tend to share the same critically important characteristics. So just what is it that makes for a good neighborhood?

1.    Homeowners Care About Their Neighborhood & Their Neighbors

One of the most important qualities of a good neighborhood is that the residents care about the neighborhood and want to see it develop into something special. This means folks own their homes and take a sense of pride in ownership. The homeowners in the area care about their community, and they want to contribute to make it a better place to live.

It’s easy to care about your neighborhood and your neighbors at Lilyana by Hillwood. The master-planned community in Celina, TX is made to be walkable so neighbors can meet each other on their way to the pool, heading to the fishing pond, or while walking the dog.  It’s not unusual for neighbors to meet at the outdoor kitchen and event pavilion and enjoy fellowship while their kids play at the parks and playgrounds.  That’s all part of the design at Lilyana.

2.    Outdoor Recreational Opportunities

Another aspect of what makes a good neighborhood is plenty of places for recreation. Outdoor activities are a great way to get exercise, meet your neighbors, and improve your mental health. In fact, studies have shown that those who have high exposure to green space have better psychiatric health, while those without green space nearby are 55% more likely to develop mental disorders. It’s clear that having natural beauty near your home is good for your health.

Lilyana offers many opportunities for fun outdoor activities including:

  • Miles of paths for biking and walking
  • Multiple parks
  • Outdoor pavilion and kitchen
  • A catch and release fishing pond
  • A luxury swimming pool

Opening soon is Bluebonnet Park, which will offer an outdoor pavilion, sports courts, a children’s play area, and more.

3.    Superior Schools

If you have kids, the local school system is probably high on the list of must-haves when looking for a good neighborhood. You want to make sure your children are getting the education and support they need at school. Not only that, but homes within good school districts tend to have higher resale values.

Lilyana is located within the award-winning Prosper ISD, which is known for academic excellence and commitment to student success. The district currently ranks as one of the best in Texas. In the near future, Lilyana will be home to a new on-site Prosper ISD elementary school making it extra convenient for kids to walk or bike to school.

4.    Proximity to Amenities

Speaking of convenience, proximity to important services and amenities is another essential quality of the perfect neighborhood. Master-planned communities like Lilyana are ideal for walkability since it’s one of the main tenets of the design. Pathways and roads are designed to accommodate pedestrian traffic and minimize congestion from vehicles, all while keeping local amenities within convenient walking distance of everyone in the neighborhood.

Besides having easy access to our on-site amenities, Lilyana’s great location in Celina, TX means residents can also easily reach Frisco’s “$5 Billion Mile” which is just 10 miles away. It takes a short drive to reach the city’s offerings like entertainment, shopping, restaurants, medical care, businesses, sports venues, and much more.

5.    Safety

Naturally, you want your neighborhood to be safe. A local crime rate is a good indicator of the neighborhood’s quality, with a low or decreasing rate showing improvement in the area as a whole.

For instance, Lilyana is located in Celina, Texas, which has an A+ rating when it comes to local crime rates. That top rating means it is safer than the majority of cities throughout the U.S., with Celina’s total crime being about 70% below the national average. In addition, crimes are currently decreasing in the area by 23% per year, meaning it’s still improving as a community.

6.    In Sync with Your Lifestyle

Finally, the perfect neighborhood is not only going to be objectively good in terms of amenities, walkability, schools, etc., but it will also be a subjectively good match for you and your family. Each person has their own preferences and lifestyle, after all, and you want your community to match what you value most. The best communities often cater to specific interests.

Each of our communities is designed around common interests and lifestyles that bring people together. For instance, Lilyana is the ideal place for those with an active lifestyle since it provides plenty of opportunities for walking through nature, fishing, swimming, or just getting together for a picnic outside. You’ll find people with shared interests and enjoy time with like-minded neighbors.

Looking for a Great Neighborhood? Lilyana Has it All!

If you’re currently in the market for a new home, Lilyana by Hillwood has all the makings of a great neighborhood. From excellent outdoor amenities to thoughtful neighborhood design, we take pride in providing one of the best master-planned communities in North Texas. To learn more about our community, get in touch today!

Reasons to Go Fishing – Why You Should Take Up Fishing as a Hobby

Lilyana fishing pond

Why is fishing fun? Those who don’t fish may wonder. Many people fish for the thrill of landing a big catch. Others simply want to relax and get away from everything for a few hours.

Recreational fishing has become highly popular, with 37% of Americans going fishing at least four times per year. The number of youths who went fishing between the years of 2006 and 2019 totaled over 10.85 million, making it a truly popular sport among all ages.

But why do people fish? The reasons to go fishing aren’t complicated. Some people fish because it’s so doggone relaxing and others do because it’s an easy hobby to pick up. There’s no doubt, fishing is a great pastime that offers many benefits.

Benefits of Fishing as a Hobby

Let’s talk about some of the great things about cultivating a fishing hobby. Fishing can lead to improved health, support conservation efforts, and help kids develop important skills.

Relieve Stress

One of the health benefits of fishing comes from its potential to relieve stress. Simply being out in nature can help reduce levels of stress hormones. According to a study published in 2018, people who spend time in wilderness settings report much lower levels of stress than those in more urbanized areas.

The act of fishing also entails focusing on a single task. This mental focus takes your mind away from the pressures of daily life and can induce a quasi-meditative state of mind that further helps relieve stress.

Increase Vitamin D

When you sit outside at the fishing hole you are getting some sunlight, even if it’s a cloudy day. Being outside fishing for a few hours can help your body get some much-needed vitamin D3, which can lift your spirits and fend off depression.

Fund Conservation Efforts

Aside from the health benefits of fishing, it also helps the environment. Fishing licenses fund many wilderness conservation efforts, including fish stocking in ponds, land conservation, and wildlife management. Your purchase of a fishing license helps make Texas a better place for everyone to live.

Fishing Is Good for Your Kids

Finally, fishing is great for your kids! They can learn many useful skills through fishing, including:

  • Perseverance
  • Patience
  • Self-confidence
  • Coordination and motor planning
  • Independence

In addition, it helps your kids develop an appreciation for nature that will stick with them for the rest of their lives.

Recreational Fishing Basics

Now that you know the reasons why you should start fishing as a hobby, let’s go over the basics you’ll need to get started. It’s fun and easy to learn!

Catch and Release Fishing

Many fishing holes are catch and release, meaning if you catch a fish, you have to release it shortly afterward. Catch and release helps preserve fish populations in heavily fished areas.

When releasing a fish, make sure to gently remove your hook and release it back into the water as quickly as possible. Doing so helps increase its chances of survival.

Equipment Needed to Get Started Fishing

In terms of equipment, the first thing you’ll need is a fishing license. A license can be purchased online or through local retailers. Kids under the age of 17 or people with disabilities fishing under the supervision of a licensed angler aren’t required to get licenses.

In addition to a license, you’ll need the following starting equipment:

  • A durable fishing rod and reel
  • Hooks
  • Fishing line
  • Bait or lures
  • Bobbers (also called floaters)
  • Sinkers (which stabilize your hook)
  • Swivels (which allow certain lures to spin freely)
  • Needle nose pliers
  • A knife or pair of clippers
  • A tackle box to keep everything together

You might upgrade your kit as you go, but this is enough to get you started. Some ready-made kits come with knots already tied, which is a bonus for a beginner.

Ask Local Experts

Finally, it helps to ask local experts about fishing in your area. They’ll have experience on what types of lures or techniques work best, the best places to fish, and the best time of day. The right techniques depend on the fish and climate in your area, so it’s definitely worth chatting a bit with experienced anglers before you go.

Great Places to Fish in North Texas

You don’t have to go out for a weekend-long trip to go fishing in Texas. In the Dallas-Fort Worth area alone, there are over 50 different fishing ponds, all within easy access.

Some popular catch and release spots in Collin County can be found here.

A list of additional spots around Dallas-Fort Worth can be found here.

Love Fishing? Check Out Our Community!

If you love fishing—or if you’re wanting to start—and if you are looking for a great place to live, Lilyana by Hillwood is the perfect place to be! One of our most popular amenities is our catch and release fishing pond! Lilyana also offers miles of hiking trails, a beautiful pool, an outdoor kitchen and pavilion, and acres of lush green spaces. Contact us to learn more about our homes and community.

Benefits of Buying a Home in a Small Town

Lilyana fountain

One of the best parts of our great country is its friendly small towns. No matter where you live or what state you come from, you have likely experienced small-town charm and hospitality at some point in your life. The NCES classifies small towns as an incorporated area of 25,000 residents or less, meaning that many of our country’s most charming areas are considered small towns.

Despite this average, most small towns have around 6,000 residents, meaning that there is a real range of population sizes for U.S. small towns. Many people love small-town life for a variety of reasons, and there are certainly small-town advantages. Living in a small town means less traffic, lower crime rates, and a more relaxed way of life. For many, the pros of living in a small town far outweigh any negatives, which is why thousands of people are dropping their big city, stressed-out lifestyles for the joys of small-town life.

So why is it better to live in a small town? Let’s find out.

Close to Nature

One of the main advantages of living in a small town is increased time spent outdoors. Many small towns are located in areas with significant wildlife and open spaces. This extra green space and fresh air can improve mental health, and often inspires residents to get outside and do something active, as well. Living close to nature is one of the biggest benefits of living in a small town.

Affordability

Another of the advantages of living in a small town is affordability. According to Wealth Meta, prices on just about everything, from groceries to insurance to basic services are often cheaper in small towns. Additionally, in a small town, you may find that you can afford more home than you can in the city. Property tax rates are usually lower in smaller towns, too. This means you can create a home to your exact specifications and save in many other areas. Greater affordability is definitely one of the pros of living in a small town.

Safety

When talking about the benefits of living in a small town, one of the major topics of conversation is safety. As you may assume, crime rates are much higher in metropolitan or urban areas, where there are many more people. The number of violent crimes per 100,000 people in cities with populations of 500,000 or more is roughly double that of cities where the population is 100,000 or less.

The farther you move away from a large city, the more the crime rates go down. This is one of the small-town living benefits for families, as you are more likely to feel comfortable leaving your children unsupervised outdoors than you would be in a large urban area.

Community

One of the best reasons to live in a small town is the friendliness they are known for. Small towns often have a greater sense of community than big cities. Urban environments can create an atmosphere of stress and overachievement, which leaves little time for community bonding. What’s more, massive populations in cities make it easier to feel anonymous and harder to get to know those around you. In small towns, your neighbors are more likely to stop and say hello, and you can easily get to know others in your area. Small towns often have community events as well, which is a great way to bond with your neighbors. Community is at the top of the list of good things about small towns.

What It’s Like to Live in a Small Town

As you can see, there are plenty of reasons to live in a small town. Living in a small town sets the scene for relaxation and family togetherness. Without the long commutes that are common in the city, your family will have more time to spend together at home. With more natural green spaces, you’ll likely find yourself spending more time outside enjoying nature, which is good for the mind and body.

Explore Lilyana By Hillwood

If the small-town life is calling your name, contact us at Lilyana by Hillwood. With our passion for nature, community, and smart living, we can help you find a home that fits your lifestyle.