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BUYERS INVESTING IN SOUND FUTURE AT RIVER PLACE IN SOUTH ELGIN A new townhome at River Place in South Elgin can make a great investment. Television, radio, newspapers and the Internet are constantly bombarding us with ads and messages recommending where we should put our money. While bank and CD accounts provide a stable option, they don't yield the kind of robust appreciation you need to grow your investment. And while the stock market offers the potential of greater rewards, the risks are higher, and average Wall Street returns have been lackluster in recent years. Many experts say a better option for your greenbacks is to put your money into real estate- by investing in a new construction home. Historically, owning a home is one of the most stable investments an individual can make. In fact, according to the National Association of Home Builders (NAHB), homeownership is the primary source of a household's net worth, surpassing retirement accounts, stocks, mutual funds, and savings bonds. Owners accumulate personal wealth by building equity in their homes, and this often sets them on the path to future financial security. National statistics prove that over the long term, owning a home almost always produces a solid rate of return with a low risk of loss. This is especially true for new homes in emerging communities where property values are on the rise. "You don't have to be a seasoned investor to understand the value of new construction," said Diane Robinson, director of marketing for Wyndham Deerpoint Homes. "This is even more apparent during the preconstruction phase when appreciation is at its maximum." Such is the case at River Place, Wyndham Deerpoint's community of 46 townhomes in South Elgin. Buyers who act quickly can not only take advantage of favorable pricing - which currently ranges from $227,000 to $264,000 (all prices subject to change without notice) - but also save thousands of dollars with the builder's summer savings program. For a limited time, Wyndham Deerpoint will pay each new owner's first-year assessment fees, which can exceed $1,500 depending on the home selected (see sales manager for complete details). Two floor plans are available at River Place: the 1,563-square-foot Waterford and the 2,000-square-foor Fieldstone. Each townhome features either two or three bedrooms, two-and-a-half baths, and an attached two-car garage. Luxury touches include oak railings, designer light fixtures, custom-quality oak or birch cabinetry in the kitchen, Whirlpool appliances, oversize closets, central air conditioning, and 93-percent energy-efficient gas furnaces. Depending on the plan, basements and nine-foot first-floor ceilings are standard, too. A number of River Place townhomes are ready for immediate move-in, with additional buildings scheduled for occupancy by late summer. Those who chose a quick-delivery home can save an additional $5,500. "Townhomes are an excellent alternative to detached residences for both first-time buyers and empty nesters looking for less work around their home," said Robinson. "They provide the same benefits of ownership, but at a price point that's generally more affordable than their single-family counterparts. "Some novice home shoppers think that interest rates in the 6 percent range are high and, therefore, may be holding off on purchasing," she continued. "They don't realize how outstanding today's rates still are. They don't remember the double-digit rates we saw a few years back. Yet every uptick in mortgage rates costs them in terms of affordability and buying power." Empty nesters, on the other hand, may not be inspired to move because they are comfortable with their current living situation. But older homes have their share of problems, and repairs can be expensive. All townhomes at River Place, however, come with Wyndham Deerpoint's new construction warranty. Plus, heating and cooling costs have skyrocketed and River Place townhomes are built to be energy efficient. Materials used include Dow Weathermate air infiltration wrap; R-13 batt wall insulation; R-11 basement wall insulation; R-30 blown and batt ceiling insulation; automatic 40-gallon water heater; and an insulated storage and utility basement per plan. Category 5 wiring for phone and RG6 TV cable accommodates the demands of today's technological devises. Another reason River Place is a solid investment opportunity, according to Robinson, is that the site abuts natural amenities - something home shoppers are willing to pay for. Not only are the buildings nestled near the banks of the Fox River, a creek winds around just north of the townhomes and expansive open space can be found just east of the neighborhood, as well. All these green spaces and common areas are maintained by a homeowners' association, so residents never have to worry about upkeep on the property. Association fees also provide for lawn care, driveway upkeep, snow removal, association management services, and building insurance and maintenance, so homeowners never have to do yard work or exterior repairs, either. Although it boasts a secluded ambiance, River Place is conveniently located off Rt. 31 and Melrose Avenue, near Interstate 90, so homeowners have handy access to the northwest suburban job corridors and local conveniences, Robinson said. "With gas prices continuing to rise, being a short drive from your job or the activities you enjoy has become more valuable than ever before," said Robinson. Some of the amenities close to home for River Place residents are the renowned Prairie Path and the Fox River Trail, 175 acres of village parks, numerous forest preserves, and several golf courses. Sales for River Place are being conducted on site at 21 Melrose Ct. in South Elgin. From Lake Street/Route 20, turn south on Route 31 and travel approximately two miles to the community's entrance on the left at Melrose Ave. A decorated model is open for touring. Sales hours are Tuesday and Thursday noon to 5 p.m., and weekends 11 a.m. to 4 p.m. (closed Monday, Wednesday and Friday). For more information on River Place, telephone (847) 742-0200.

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