What’s the Deal with New Construction?

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It’s hard to not notice all the new construction going on. Why are so many new homes being built? In the past few months, the supply of homes has decreased while buyers’ demand had increased. Buyers have the option of either choosing from a low inventory or building a new home. 

Isn’t building or buying a newly built home more expensive than purchasing one on the market? Most of the time, now, you are able to buy a newer home for the same price you would buying an older home. Builders are buying lots in bulk at a much lower price than previous years; this allows them to automatically discount the price of the home.

What do you want to consider when buying a newly built home?

•    The reputation of the builder. 

•    It’s important to have an agent who has experience with different builders and knows what to expect.

•    Look at the home warranty; your home needs to be perfect.

•    Have the walk through list completed prior to closing; once the home is closed, the builder sometimes does not view the fixes and repairs as a high priority

If you have any questions please call me at706.621.6085