It's a sellers market and that means competition. Lots of competition. When there are multiple offers on almost every pre-owned home, it might be time to consider new construction.
I have some buyer clients, young newlyweds. We've been looking for their first home for a while. They both work very different schedules and finding time when we can all get together for their home search is challenging. And often by the time we can get together, the homes they want to see are already under contract.
So why are they considering buying a new home?
- No competition. There will not be multiple offers to drive up the price of the home. When they find the builder, location, and lot that they want, there won't be other offers for the builder to consider.
- Choice of location. While there may be other buyers who will be purchasing in the same subdivision, the builder knows which lots are still available and those are the lots my buyers get to choose from.
- Choice of floor plan. The buyers get to choose from the different floor plans offered by the builer and may be able to do some customizing of the layout.
- Choice of upgrades. Hardwoods or carpeting? Granite or quartz or laminate? These are some of the design features that the buyers can select.
- Builder incentives. Depending on the builder, buyers may be given an upgrade allowance for using the builder's lender; or closing costs may be waived.
A few other reasons to consider new construction:
- The home will be built to the most current saftey codes.
- Less maintenance may be required.
But the number one reason these buyers are looking at new homes is that they know what isn't already spoken for and what they get to choose from.
If you're looking for a home, consider buying new. I can help you purchase a pre-owned home or a new one. Don't rule out new construction.