Thank You McHenry For The $10,000
For a limited time only, the City of McHenry is offering a 50% discount on impact fees for new home construction; however you must apply for a permit before September 2019.
Every homebuilder in the City of McHenry has received this reduction, and will choose to apply the savings in their own way. Â Gerstad Builders is excited to pass this savings directly to the customer. Gerstad Builders believes that since weâ€™re getting a cost break on required fees our customers should be the ones who benefit. The point of this fee reduction is to stimulate the home building market in the McHenry community, which allows us to make homes in McHenry as affordable as possible. With mortgage rates fluctuating as they are, and uncertainty in the market, McHenry wants to keep housing prices low for as long as possible and to give the residents and homebuilders a great reason to continue moving in to McHenry. To learn more about mortgage rates, click here.
So what exactly are Impact fees? Impact fees are the fees set by city councils in an effort to cover the impact that new homes and new residents moving into these homes have in the community. These fees are meant to cover the new populationsâ€™ use of:
- public libraries
- public water and Sanitary Sewer Department
- Emergency Services
These fees are in place because new homes bring in additional residents who will be utilizing all aspects of the community which is why they have been named â€˜Impact Feesâ€™.
Homes that have a certain base value are elevated in price because of these fees which makes these homes more difficult to pay for and adding on extra dollars to monthly payments. Typical customers living in Gerstad communities live in 3 or 4 bedroom homes and this fee reduction can save home buyers anywhere from $4500 to $10,000. Homes with 5 bedrooms save even more money. Any new homeowner would want to save money and this discount isnâ€™t one to pass up. Since the City of McHenry has given a â€œdue byâ€ date for this incentive, Gerstad Builders needs to get the process rolling no later than early July to take full advantage of the savings.
Discounted impact fees will not last long so stop at the Liberty Trails sales center and select a home site and plan style. Every family is unique, which means your house shouldnâ€™t be one size fits all.
If you are interested in learning more about Gerstad Buildersâ€™ many communities, clickÂ hereÂ to contact us or call at (815) 385-4495. We would be happy to help you find your dream home.