{"id":532,"date":"2024-01-17T00:04:04","date_gmt":"2024-01-17T00:04:04","guid":{"rendered":"https:\/\/renwre.info\/2024\/01\/17\/why-you-may-want-to-seriously-consider-a-newly-built-home\/"},"modified":"2024-01-17T00:04:04","modified_gmt":"2024-01-17T00:04:04","slug":"why-you-may-want-to-seriously-consider-a-newly-built-home","status":"publish","type":"post","link":"http:\/\/renwre.info\/?p=532","title":{"rendered":"Why You May Want To Seriously Consider a Newly Built Home"},"content":{"rendered":"
\"Why<\/p>\n

Are you putting off your plans to sell<\/a> because you\u2019re worried you won\u2019t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here\u2019s why.<\/p>\n

Near-Record Percentage of New Home Inventory<\/strong><\/h4>\n

Newly built homes are becoming an increasingly significant part of today\u2019s housing inventory. According to the most recent report from the National Association of Home Builders<\/em><\/a> (NAHB):<\/p>\n

\u201cNewly built homes available for sale accounted for 31% of total homes available for sale in November, compared to an approximate 12% historical average.\u201d<\/em><\/p><\/blockquote>\n

That means the percentage of the total homes available to buy that are newly built is well over two times higher than the norm. <\/strong>And even more new homes are on the way. <\/p>\n

Recent\u00a0data<\/a> from the Census<\/em> shows there\u2019s been an uptick in both housing starts (where builders break ground on more new homes) and housing completions (homes where construction just wrapped). <\/p>\n

And while some people may worry builders are building too many homes, that isn\u2019t a concern \u2013 if anything, the recent increase is really good news. As Lawrence Yun, Chief Economist at the National Association of Realtors<\/em> (NAR), explains<\/a>:<\/p>\n

\u201cEven more home building will be needed with the housing shortage persisting in most markets . . . <\/em>Another 30% rise in home construction can easily be absorbed in the marketplace<\/em><\/strong> . . .\u201d<\/em><\/p><\/blockquote>\n

How This Helps You\u00a0<\/strong><\/h4>\n

Since the supply of existing homes for sale<\/a> is still low right now, the increase of new-home construction can be a game changer because it gives you more options for your search. <\/p>\n

Picture yourself in a home that\u2019s new from the ground up: new appliances, fresh paint, fewer maintenance needs because everything is new, and so much more. Doesn\u2019t that sound nice? <\/p>\n

And it may be more within reach than you ever imagined. In addition, some builders are offering things like mortgage rate buy-downs for homebuyers right now. This can help offset today\u2019s affordability challenges while also getting you into your dream home. In a recent article, Patrick Duffy, Senior Real Estate Economist at U.S. News, <\/em>explains<\/a>:<\/p>\n

\u201cBuilders have been using mortgage interest rate buydowns for many years as a sales incentive whenever interest rates are relatively high, . . .<\/em>Today more builders are offering rate buydowns for the entirety of the loan, allowing buyers to finance more home for the same payment amount<\/em><\/strong>.\u201d<\/em><\/p><\/blockquote>\n

Just remember, the process of buying from a builder is different from buying from a home seller, so it\u2019s important to partner with a trusted real estate agent<\/a> who knows the local market. They\u2019ll be your go-to resource for coordinating with the builder, reviewing contracts, and more.<\/p>\n

Bottom Line<\/h3>\n

If you\u2019re trying to sell<\/a> so you can make a move but you\u2019re having a hard time finding a home you like, connect with a local real estate agent to explore all of your options, including the newly built homes in our area.<\/p>\n<\/div>\n

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Are you putting off your plans to sell because you\u2019re worried you won\u2019t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that Continue reading Why You May Want To Seriously Consider a Newly Built Home<\/span>→<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/posts\/532"}],"collection":[{"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/renwre.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=532"}],"version-history":[{"count":0,"href":"http:\/\/renwre.info\/index.php?rest_route=\/wp\/v2\/posts\/532\/revisions"}],"wp:attachment":[{"href":"http:\/\/renwre.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/renwre.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=532"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/renwre.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}