It’s a big year for new homes! According to the U.S. Census Bureau, builders are expected to complete over 1.3 million new homes in this country by the end of the year. If you’ve been looking for your dream home but haven’t found it due to the supply shortage, you may get lucky with a new build. Here’s why you may want to consider a new build for your next home:
Reason 1: The supply of new builds is rising.
When you’re house hunting, you can look at two types of homes: existing homes (which have been owned and occupied before being listed) and new builds (which you buy directly from the builder). You’ve probably heard that the supply of existing homes on the market is improving from pandemic lows, but demand is still greater than supply which makes finding the right home difficult.
Supply is also going up for new builds, though. Here’s a graph showing how much the supply of new builds has grown in 2022:
If you haven’t been able to find what you want from existing homes, a new build may be the solution.
Reason 2: You can reduce upkeep costs.
If you currently have an older home, you’re probably sinking a lot of money into upkeep. Maybe last year you needed a new roof, or this year all your appliances seem to be breaking, one after the other. Maybe you’re dealing with leaky pipes, loose floorboards, doors that stick, or any other number of small repairs. Big or small, repairs cost a lot of time and money.
When you move into a new build, you shouldn’t have to worry about any upgrades or repairs for a long time. Keep up with routine maintenance and you’ll be in great shape.
Reason 3: You can get exactly what you want.
Does your current home bring you joy? If not, moving into a new build might really improve your life. New builds tend to have modern, open floorplans with lots of light. If you’re buying the home before it’s totally completed, you may even be able to request your ideal finishings. The home will likely come equipped with energy-efficient appliances and low-maintenance, eco-friendly materials.
Reason 4: Builders have reduced prices over the last three months.
With interest rates rising and the market cooling, builders are starting to offer discounts. They were building rapidly to account for the super-hot market, but with the market cooling they want to be sure they don’t carry excess inventory. They’re slowing the pace of their new construction and selling off the new builds they currently have ready. Now is the perfect time to snag a deal on the new build of your dreams.
Reason 5: You can get into your new home fast by working with MarketPro.
You might be on board with a new build, but unsure about how to make things work financially. If your current home needs updates and repairs, you might worry you’d never have it ready to sell in time to take advantage of the best new build deals. We understand this worry, as the sales process can take months or even longer with a distressed home. Luckily, there’s an alternative to listing your current home on the market. You can get the cash you need for your dream home by working with MarketPro Homebuyers.
Bottom line:
With new build inventory up and prices down, it’s a great time to look at a new build. In addition to avoiding the expensive upkeep of an older home, you can also enjoy your day-to-day life more in your new dream home. You can sell your current home to MarketPro for cash, no matter the condition, and get into your new home right away.
Work with MarketPro:
We’ll give you a fast cash offer for your current home just as it is now; no repairs, no upgrades, no inspection, no commissions or fees. You can even choose your exact closing date to coordinate perfectly with the purchase of your new build. Our team will walk you through your quote, including a review of what your home would likely bring on the open market.
If you’re in Washington, D.C., Maryland, Virginia, Pennsylvania, or Florida , we’d love to show you how easy and stress-free the sales process can be. Contact us today for a same-day, no-pressure quote.
