Why You Should Buy a New-Build Home Now
Three reasons why you should buy a new-build home in today’s market.
Why is it advantageous for buyers to consider a newly built home in today's environment? There are three main reasons why new builds may be beneficial, and today I’ll share them with you.
Firstly, it's worth prioritizing a move-in-ready home. More and more builders are offering what we call "spec homes" in today's market. They offer attractive options, and you don’t need to do any repairs or inspections. With a new build, everything is ready for you.
Secondly, the interest rates and financing options available make a new build a compelling option. Recently, I heard two builders mention that they had bought blocks of funding, with one offering a 4.875% interest rate and the other offering a 5.5% interest rate. These big national builders can offer interest rates that are difficult to find from any other lender off the street. Additionally, as part of their financing options, they offer to pay some of the buyer's closing costs, which can help to reduce the amount of money needed at the closing table.
Builders are more willing to be flexible on price.
Finally, builders are becoming more negotiable on price. While a home might be listed at a certain price, it is possible to negotiate for a lower price or concessions because builders are more willing to be flexible on price than in previous years.
These are three good reasons to consider a new-build home. If you need help with your real estate goals or have any questions about buying new-construction homes, call or email me. I’m always happy to help.