Throughout the last year or so, a trend amongst homebuyers has emerged: new homes. New homes are increasingly popular with buyers lately, but why?
Throughout 2020 and 2021 and into 2022, people care more about their homes than ever before. This is because most people are spending more time at home than previously and so they're noticing what they do and don't like and they want to invest more in where they're spending much of their days and nights.
Why New Homes?
New homes offer a lot of perks:
- Customization of interior and exterior
- New materials and resources (energy efficiency, etc.)
- Typically less maintenance/repairs
These aren't small factors that come into play when buying a home. Especially with prices high anyways - many buyers are thinking why not spend the extra for something entirely their own? From modern floor plans with open concepts and the space so many are looking for to the ability to customize a backyard and paint colors; new homes offer control to their buyers. New homes are often more energy efficient as well because of new materials and building practices. And of course, homes that are new are less likely to have issues for quite some time.
Construction might be a lot to deal with and sometimes timelines can be askew but the end result is one of complete customization in most cases.
Downsides?
Time and money are the only downsides for most people when it comes to new builds. Time being the time it takes for homes to be built or materials to come in. This can be really frustrating if buyers are waiting and waiting for materials or some other detail to be finished - they're itching to get into their new custom home!
As for money, if clients can easily afford a new home - obviously this isn't an issue. But, if a client is stretching to get into a new home and unexpected costs arise; frustration and panic can arise.
If you have a lot of buyers coming to you looking specifically for new homes - don't be surprised! Now is a great time to work with local construction companies, etc. to keep current on new developments.
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