If you buy a New York home, you may want to check out some BBB Meritage Homes reviews. This is a great way to learn more about a company before you make your decision. You can read about the merits of the company, as well as the pros and cons of their services.
Customer service was excellent from start to finish.
Meritage Homes is a good option if you’re looking for a luxury new home builder. With over ninety thousand homes built since 1985, the company has a reputation for producing high-quality homes and ensuring customer satisfaction.
Meritage Homes offers many options to its customers. In addition to the homes themselves, the company also provides financing and mortgage plans. This makes the process more accessible and helps ensure that the homeowner receives a quality home they can live in for a long time.
Upon buying a Meritage home, a buyer will be given the details of the warranty coverage they’re offered. They include a one-year functional warranty and a 10-year structural warranty. In addition, the builder will inspect the home at each stage of the construction process and fix any issues.
Drywall and texture issues in all rooms
A textured finish can disguise many minor imperfections in a drywall job. The trick is finding a reputable contractor who can do the job correctly. Luckily, there are several websites online where you can compare quotes from drywall subs.
Various types of textured finishes include faux-stucco or rounded corner beads. Some of the more expensive finishes are smoother, though. When choosing a finish, consider the style of your home, the architectural style of your house, and your budget. For instance, textured drywall might look slightly out of place in a Victorian.
Refusal to back up warranties
Many homeowners have had bad experiences with Meritage Homes. Most of them have experienced problems with the company’s service and quality. However, some customers have also had great experiences with the company.
Some of the issues that Meritage Homeowners experience include paint and texture problems, drywall issues, and structural defects. You may want to research the company’s reputation online if you’re looking to buy a new home. You’ll find that negative reviews are far more common than positive ones.
You’ll also want to check out the company’s warranty policies. The company offers a one-year functional and 10-year structural warranty for each home. While these warranties are excellent, some customers have experienced issues with them.
Fitch Ratings affirmed its ratings.
Vital credit metrics and solid liquidity back Meritage Homes’ BBB+ ratings. The company is primarily focused on selling homes targeting entry-level buyers. In recent years, Meritage has increased its spec-building activity to facilitate a broader range of affordable homes. However, a continued prolonged housing slump could lead to significant impairment charges.
Meritage operates in 17 markets across nine states, focusing on California and Florida. It has stated a target of 300 active communities by mid-2022.
Fitch expects Meritage to maintain its disciplined capital allocation strategy. This includes a focus on land development. But the company also has a significant debt load. Meritage’s total debt to operating EBITDA is 1.2x as of September 30, 2021. That’s well above the CCRC category median of 12.4%. Moreover, the company has a revolver maturing in December 2025.
The speculative build strategy is a credit negative.
The speculative build strategy is one of the many credit hazards associated with building homes. Meritage, the homebuilding subsidiary of Johnson Asset Management, is one company among many that have been taking advantage of this financing for years. Unfortunately, speculation has not yet been tested in the face of a prolonged housing downturn. However, as more and more homeowners look to purchase their first new home, it is clear that a more sensible approach is in order.
Despite these limitations, the homebuilding industry has remained a profitable one. In fact, as of September 30, 2022, Meritage had approximately $299.4 million of cash, compared to $423.1 million in total debt. The company has also demonstrated its capability to manage a net debt-to-capitalization ratio in the high-20s. However, heritage aggressive land and development spending program is a significant hurdle in that direction. As a result, the company will face a diminished liquidity position over time.
Financing was unusual
Fitch ratings gave Meritage Homes Corporation a thumbs up for their Long-Term Issuer Default Rating (LTID) – BB+. The rating is based on the company’s credit metrics and performance. In addition, a healthy liquidity position, low debt to capitalization, and a solid balance sheet are some critical ingredients to Meritage’s success.
For a homebuilder, the best-performing properties aren’t necessarily the most expensive or luxurious. Some of the company’s best financial performances have been achieved by focusing on entry-level housing. These types of offerings are essential in an increasingly affordable market.
Luxury homes
Meritage Homes is one of the best options if you’re looking to buy a new home. It offers homes with energy-saving features.
Meritage is also a leader in creating green star-compliant communities. That means you’ll save a significant amount on utility bills each month. You can even get a two-year mechanical system warranty.
This is just one of the many reasons that Meritage is considered one of the top home builders in the country. They are also known for their commitment to customer service.