Get A Great Deal
New Construction does not have competition like resales do. Depending on the size of the development there lots of inventory to choose from. The builder doesn’t play the multiple offer game, because they have more than one house to sell. They will adjust their pricing on their next release of homes as they establish the level of demand for their product. Most lenders also offer extended interest rate locks for new construction which can protect the affordability of your new home.
Get Your Offer Accepted
When selling your current home and buying another, new construction can make life easier. Builders don’t shy away from contingent offers. They wont automatically put your offer at the bottom of the pile like individual sellers do. An individual seller that receives multiple offers can only work with one buyer because they only have 1 house.
It’s easier to manage the logistics when you have an estimated move in date to work with. You can breathe once you know where you are going to move and when. Once your dream home is under contract its less stressful deciding to list and sell your current home.
New developments may have smaller yards, and less privacy than you originally desired, however (like many existing neighborhoods) they are consistent throughout. This means similar build dates, floor plan, lot size, and finish. These types of neighborhoods tend to appreciate more immediately because of uniformity. The development may have several homes that are comparable to yours and each one that sells or is appraised will make your value demonstrable immediately.
Latest and Greatest
New homes are just that, new, you get to have all the “firsts” in the home. You will never have to wonder what the previous owner was thinking or doing when they did a DIY project or made a hasty repair. New homes are also designed with current styling, amenities and popular layouts. They typically appeal to a lot more people, which is always a good thing for resale. In addition, new homes are much more energy efficient than what was built years ago because of current building codes.
When you buy a brand-new home you get to walk through prior to closing and demand near perfection in each and every detail and finish in the house, this never happens in a resale. In addition, builders do a cosmetic “move in” repair 30 days after you close! That means that the nicks and scrapes made by your brother in law when he helped move will be fixed by the builder! Once your stuff is all in the house, it will look just like ti did before all the heavy lifting.
When you move into a new development, you are not the “New Neighbor” becasue everyone else is too. You tend to meet more of your neighbors, and more easily form a sense of community. There’s an old Chinese proverb that says “Neighbors make the best Family.”
If you are interested in learning more about new construction, where the best new projects are or how to go about starting the process, please reach out, we would be happy to help!