In the market to purchase a home?

GREENSBURG, Pa. - March 19, 2018 - Rezul -- You're in the market to purchase a home. Your wish list is long and you want the latest and greatest of everything. But where do you draw the line? First, you have to ask yourself: Is new or used right for you? Some factors to consider are desired location, personalization options, energy efficiency, maintenance and timing. But is a used home really worth it in the long run?

Why used?

Let's talk about hand-me-downs. Some people love them. History is a lesson learned and when it comes to buying a home, living in one that has a story to tell and is reminiscent of yesteryear is what some buyers crave. Others might opt for a used home because their heart is set on a desired location and new just might not be an option in some areas.

Others have a passion for DIY and a true knack for home improvements. They want their house to be their next project and they are excited to build their own dreams out of someone else's story. But do these preferences outweigh the long- and short-term maintenance costs associated with the purchase of a used home?

The case for new construction.

There is nothing like buying something that's bright, shiny and new. If you opt for a new home, you will most likely be able to select a layout or home design that works well with your particular lifestyle and budget. Most new construction homes offer modern, open floor plans with rooms that flow into one another and tend to be large and bright with ample natural light.

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"For most new homes, upgrade finishes are also available so you can give your home that personal touch that you've always wanted," said Joel Lazar, Director of Sales and Marketing at the K. Hovnanian® Homes Build On Your Lot division.

New homes also feature new appliances and home systems (per design) that are simply more energy efficient. "Plus, more efficient insulation and windows create buttoned up homes that are less expensive to heat and cool than older models," according to a Zillow.com article (https://www.zillow.com/home-buying-guide/buying...).  "All of that translates into lower utility bills."

Typically, a new home is 30 percent more energy efficient than a home built just five years ago and your average savings annually is between $723-$1,182 when building new, according to Lazar. New homes also come with unsurpassed warranties and are built to the latest building codes. "This means you can focus on the most important things in your life – like your family, not a leaky roof or safety issues," added Lazar.

Prospective homebuyers who are interested in building on their lot are encouraged to visit a K. Hovnanian® Homes Design Studio. If you need land, K. Hovnanian® Homes has recently unveiled its new Land Matching Program, which is a complimentary service that allows you to find your perfect homesite based on location, size and price. Build On Your Lot homes are priced from the $160s. To learn more, visit http://www.khov.com/dream or call 866-402-7735.

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ABOUT HOVNANIAN ENTERPRISES®, INC.

Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Matawan, New Jersey. The Company is one of the nation's largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, D.C. and West Virginia. The Company's homes are marketed and sold under the trade names K. HovnanianÒ Homes, Brighton Homes® and Parkwood Builders. As the developer of K. Hovnanian's® Four Seasons communities, the Company is also one of the nation's largest builders of active lifestyle communities.

Additional information on Hovnanian Enterprises, Inc., including a summary investment profile and the Company's 2017 annual report, can be accessed through the "Investor Relations" section of Hovnanian Enterprises' website at http://www.khov.com. To be added to Hovnanian's investor e-mail or fax lists, please send an e-mail to IR@khov.com or sign up at http://www.khov.com.