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Recession-Proof Home

During the housing slowdown, as an incentive to buyers who were on the fence, Chicago-based homebuilder Bigelow Homes created what they call “the recession-proof home.” The idea was to remove most of the risk to homebuyers by guaranteeing as many aspects as possible.

In addition to the industry-standard new home warranty, Bigelow’s recession-proof home features include:

•Mortgage Payment Protection: If the buyer becomes unemployed, the developer makes the mortgage payments for up to six months while the buyer looks for a new job. •Home Price Protection: The developer guarantees that the home price will never be lower than the price the buyer paid - if the home price does go down, the buyer will be reimbursed the difference. •Heating Bills Guaranteed at $400 Per Year: If buyer’s heating bills exceed $400 per year in any of the first three years, Bigelow will reimburse the difference. •Flexible Living Space: The floor plan is flexible enough to accommodate a home-based business or separate rentable private living quarters.

Bigelow’s recession-proof home is a dedicated home design available in both a single-family home and rowhome at HomeTown Aurora in Aurora, Illinois. 1)www.BigelowHomes.com 2)Link to New York Times article on recession-proof home: http://www.nytimes.com/2009/04/20/business/economy/20guarantee.html?_r=1&sq=Bigelow%20Homes&st=cse&adxnnl=1&scp=1&adxnnlx=1240423941-OzTHpjEh/tY6KRXn8G0gwA 3)Link to Fox News features on recession-proof home: http://www.foxnews.com/search-results/m/22130544/recession-proof-homes.htm#q=recession+proof+homes