Competition among homebuyers is fierce given the circumstances.
Future homeowners are acting fast to take advantage of today’s historically low interest rates, but they are also encountering shrinking availability of homes for sale and rising home prices.
But today’s real estate market doesn’t have to put you on the sidelines, especially if you explore every option like buying new.
Here are five reasons why you should broaden your search and consider buying a newly built home.
Home warranty
Builders provide excellent warranties on newly built homes. In many cases, a new home is fully warrantied for several years and most of the other home’s components will be covered for even longer periods of time.
Homeowners will have the peace of mind that in the unlikely event of something going wrong, they will be fully covered.
Customization opportunities
With the new realities of the pandemic, many families are looking for larger living spaces and design features that complement their lifestyles.
Home builders encourage their customers to have a voice in the design process to create living spaces that best suit their individual needs. From room location to flooring and paint, you can have a big say on the look and feel of your new home.
Easier maintenance
Newer homes are engineered to lower the need for maintenance.
Builders use composite products instead of wood trim for the home’s exterior, for example. This eliminates the possibility of rot or other deterioration. Paint will also hold up better on these materials.
Financial perks
When you buy a new home, you might be offered extra mortgage financing perks through the builder that are uncommon elsewhere.
Some builders own their own mortgage operations and will pay for the buyer’s mortgage points to bring down the interest rate, which is not a typical practice of private sellers.
No immediate repairs needed
Buying an existing home that’s been lived in for years will eventually need repairs – perhaps sooner rather than later.
Newly construction homes, on the other hand, will not need that type of attention anytime soon thanks to longer-lasting materials and technologies.
If you are interested in purchasing real estate in Placer County contact us today.