Thinking about buying a home? Don’t overlook newly built options! Here’s why a brand-new house could be the perfect fit:
1. More Choices, Less Competition:
- Finding an existing home can be tough in today’s market. But good news! More newly built homes are available now than ever before. This means greater selection for you.
- While existing homes are scarce, new constructions are booming. In fact, they currently make up a much larger share (28.8%) of the total inventory compared to the past (13%).
- This surge in new homes doesn’t mean oversaturation. It simply reflects builders catching up after a period of underbuilding.
2. Affordability Within Reach:
- Worried a new home won’t fit your budget? Think again! Builders are prioritizing smaller, more affordable homes to meet buyer needs.
- The average cost of newly built homes has even decreased compared to last year. This makes them a more realistic option for many buyers.
Remember: New homes come with different contracts than existing ones. Partner with a local real estate agent to navigate the process and ensure you understand the fine print.