Embracing New Horizons: Why Now Is the Perfect Time to Consider a Newly Built Home
When faced with a limited supply of homes for sale, it can be challenging to find the right home that meets your needs. In such situations, considering newly built homes can be a viable option to expand your choices. The latest data from the U.S. Census brings positive news regarding new home construction. Specifically, when examining the first three months of this year, the data reveals the following:
New home construction is on the rise: The numbers indicate an increase in new home construction activity, which means more homes are being built to meet the demand in the market. This can potentially offer more options for homebuyers who are struggling to find suitable properties in the existing housing inventory.
Expanded selection of floor plans and features: Newly built homes often provide a range of floor plans, designs, and customization options. This allows buyers to personalize their homes to their preferences and requirements. Additionally, new homes often come with modern features, energy-efficient systems, and updated amenities.
Potential for shorter competition: With fewer buyers considering newly built homes compared to existing homes, there may be less competition and a higher chance of securing the home you want without multiple competing offers.
Considering these factors, exploring newly built homes can be an effective strategy to widen your pool of options and find a home that meets your needs and preferences. Consulting with a real estate professional who specializes in new construction can provide valuable guidance throughout the process.
In addition to the rise in new home construction, there are several positive developments that provide homebuyers with more options and opportunities:
Increased number of completed new homes: More new homes have been completed and are ready to sell. This gives you a wider range of move-in-ready options to consider in your home search. You can find homes that align with your desired specifications without having to wait for construction to finish.
Growth in single-family home construction: Builders have broken ground and commenced construction on a greater number of single-family homes. This means there is an increased supply of homes specifically designed for one household. You have the chance to customize these homes to your liking, selecting finishes, features, and layouts that suit your preferences.
Rise in building permits: The number of permits for building new single-family homes has also increased. This indicates that builders are gearing up to start more home construction projects in the near future. As a result, there may be an influx of newly built homes entering the market, providing additional choices for homebuyers.
These factors collectively demonstrate a positive trend in new home construction, offering homebuyers more move-in-ready options, customization opportunities, and the potential for a broader selection of homes as builders increase their construction efforts. It's worth exploring these newly constructed homes as part of your homebuying journey. And, while this is all good news for broadening your options for your home search, there are other perks that come with considering a newly built home.
When you buy a new home under construction, you can tailor it to your unique needs and taste. Bankrate says:
“Building means customizing. . . . instead of wishing your home had a certain kind of flooring, a sunroom or some other special amenity, you’ll be able to tailor the property to your exact needs.”
Brand New Everything
Another perk of a new home is that nothing in the house is used. It’s all brand new and uniquely yours from day one.
And, because everything is new, you’ll likely find there are fewer maintenance and repair needs up front. As Realtor.com explains:
“. . . if something does go wrong with your new home, not only are there likely some manufacturer warranties in place, but many builders also include additional home warranties . . .”
Lastly, building a home gives you the opportunity to incorporate more energy-efficient options that can help lower your costs over time – which can feel especially important when inflation’s raising many of the costs around you.
If you’re having trouble finding your dream home in today’s market, it may be time to consider newly built homes as an option. Let’s connect so you have an expert on your side to help you explore what’s available in our local area.