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First-Time Home Buyer: Is New Construction Your Dream?
  First-Time Home Buyer: Is New Construction Your Dream?  
There's a common thread running through much of the current real estate and economic news.  That thread connects, weaves, and embroiders a message regarding a severe inventory shortage found in many U.S. housing markets. I hear about the shortage of homes fairly often.  Many of my clients want to buy, but they're currently finding it extremely hard to find affordable well-maintained homes during their home searches. The home inventory shortage is especially keen in the first-time homebuying and "step-up" markets.  That fact is something that's not going unnoticed by some U.S. homebuilders. A recent article found in NewHome Source reported (via Bloomberg Business) that, "newly constructed starter homes are coming back in a big way" and major builders are building communities designed for Millennial first-time buyers".  Yet another article, found in Professional Builder, states that  "... some home builders are responding to the challenge, and they’re succeeding." And Tony Callahan, CEO and president of Callahan Consulting Group says, “There are just too many buyers (for starter homes) to ignore”.  Hopefully soon, even more builders will see the merit of concentrating on this underserved segment of the housing market.
It's important to point out:  Home buyers considering this type of home purchase need to understand that buying a new construction home is a "horse of a different color".  That meaning there ... more

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