Why Consider New Construction

The advantages of buying a new construction home in today’s intense seller’s market currently outweigh the disadvantages. What are those advantages?

For starters, you’re locking in a price while the home is being built, and you won’t face much competition. Resale homes, on the other hand, are seeing 5, 10, or 15 offers right now. When you sit down with your agent and the builder to write up the contract, you know that the price is set—you won’t have to bid up to $15,000, $20,000, or even $30,000 over asking price. 

Furthermore, home values have been appreciating at an impressive rate in recent months. Due to the building shortage, the general construction time for a new home is right around 10 to 12 months. By the time you close, your property will likely have already seen some appreciation. 

You can also choose some of the home’s details—color schemes, flooring, kitchen cabinets, etc. Another major perk: access to the most modern living accommodations. There are a lot of newer areas with HOAs that include recreation centers and shared facilities.