Most of the country is experiencing a very tight real estate market. Inventorylevels are historically low, perhaps owing to the concern of strangers traipsingthrough the home during this time. Additionally, because most people are stayinghome, they have been able to focus on their property and how it fits into theirlifestyle, emphasizing the need to right-size their environment.
With properly-priced homes moving quickly off the market, homebuyers arefrustrated. For those who can be flexible with their timing, new constructionoffers an appealing alternative to the resale market.
New construction offers the buyer a fresh, blank canvas on which to create theirperfect home. In any market, this can be appealing, but when resale inventory islow, this is even more attractive. Yet, new construction is more than modernfloorplans and beautiful finishes. Before buying new construction, it’s importantto ask a few questions first:
• How long will the property take to build, and what possible delays couldaffect that timeframe? How does that timeline fit in with selling yourcurrent home or finding interim housing?
• Is your completion date affected by the sale or occupancy of other units orphases?
• What is included in the base unit and what are the additional costs forcustom add-on options?
• What are the HOA (homeowner’s association) fees and what do theycover?
In addition, it’s important to understand the exact location of the new home andany planned developments or improvements which could affect the home in thefuture – road noise, parking or traffic congestion, view, etc.For those trying to compete in this resale seller’s market, it could be time to buynew. Developers are offering some great incentives in this climate, and it can be agreat alternative for those with a little time to wait.
Author:Tatiana Hanna Phone: 956-242-5130 Dated: December 29th 2020 Views: 156 About Tatiana: ...
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