Notes

New Houses for Sale
New houses for sale represent a great opportunity to find a home that fits your lifestyle. They’re often less expensive than existing homes, offer the latest features and are crafted with energy efficiency in mind. And if you’re planning to live in your new house for a while, it may make sense to purchase one that can be upgraded or modified over time to meet your evolving needs.

If you’re interested in buying a new construction home, work with an experienced real estate agent who can help you navigate the process from finding empty lots to selecting options for your dream home. Then, be prepared to put down a deposit before the home is built. The exact deposit amount can vary by builder, but it’s common to pay anywhere from 5% to 20% of the list price.

It’s also important to understand what the builder expects from you, especially if you choose a semi-custom home. For example, you might be asked to provide a design concept or color palette to help the builder determine if the house can be built within your budget. You’ll also be responsible for paying for any upgrades or modifications that are not included in the base price.

A big benefit of new construction is that you’ll be the first person to live in your home. “That can save you on utility and maintenance costs,” Johnson says. But https://batdongsannhatrang.info/chung-cu-ct1-vcn-phuoc-hai-nha-trang/ adds that you should keep in mind that your property taxes might increase after you move in because local governments often reassess your home’s value based on factors like location and construction date.

The good news is that new house prices have become closer to existing home prices than at any point in the last three decades, according to Moody’s Analytics. Low mortgage rates, generational trends and homeowners staying in their homes longer have all contributed to today’s strong sellers’ market and low inventory of existing homes for sale.

As a result, buyers are increasingly turning to new construction to find the right home for their family. And while new builds can still be more expensive than older homes, a gap is closing between the prices of new and existing homes as builders reduce their asking prices to remain competitive. In fact, in December, new construction homes sold for a record low price of $387,600, while the median price for existing homes was $432,700.
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