Q: Should You Buy New Construction Instead of Resale?
Here’s why you should consider buying new construction.
If you’re having trouble getting your offer accepted in this competitive market, a solution to getting the home you want may be buying a new construction home.
This is an option we’ve presented to many of our buyer clients who were experiencing the same frustrations with the market. We prepare a spreadsheet for them listing the data from various local builders and use it to narrow their home search. We usually pull 15 to 20 properties from various price ranges and locations and include the incentives each builder offers.
This minimizes the time you have to spend looking for homes, and you don’t have to worry about your offer getting beaten out once you find the home you want. The bottom line is that, with interest rates as low as they are, some buyers just aren’t in a position to be competitive in this market. Others might have a lease that doesn’t end for six to 12 months, and now may be the perfect opportunity to go under contract for a new build so the home is done once the lease ends.
If you’re interested in pursuing this home buying strategy or have any other real estate questions, don’t hesitate to reach out to me. I’d love to help you.