Bulletin Board Magazine 2017 Volume 3

Fall Home Buyer’s Solution

NEW CONSTRUCTION Could Be the Busy Fall Home Buyer’s Stress-free Solution By JosephineWeathers, Sharbell Development Corporation

JosephineWeathers Sharbell Development Corporation

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ith the crisp autumn weather, vacations over, and children back to school, fall is the perfect time to purchase a new construction home. Delivery dates are typically 8-9 months from contract signing, which gives buyers who purchase in the fall the opportunity to close and move into their new home in the summer; the perfect time for busy families with school aged children. While many buyers wait until spring or summer to home shop, buying new construction in the fall can alleviate the stress of having to look at the resale market. A pre-built home will often have that one thing that makes it undesirable; whether it’s mismatched paint colors, outdated countertops or a bathroom with the ceramic tile that leaves you wondering “what were they thinking?” Often, it’s these things that can truly break a sale. This is why new construction is so appealing. It allows buyers to choose all finishes and customize their home so they can envision those dinner parties and family movie nights. Buyers choose their own cabinets, counters, finishes, etc. and can sometimes even add additional rooms to truly personalize their space. A house is a major purchase, and an emotional one as well. In the end, a home should satisfy a buyer’s dream when they embark on their search for a home and new construction is a step in the right direction.

In the resale market, buyers deal with random pricing by overly emotional sellers and it’s almost impossible to determine how much improvements to the home will cost after closing. New construction prices are given in black and white which makes planning a budget much easier. With a set base price and a list of upgrades and optional items, a buyer can determine exactly what they will spend on their home. Buyers then stagger their payments, with an initial deposit due at contract signing and then another at the time of interior selections. The 8-9 month timeline gives future home owners more time to save for many of the ancillary expenses that come with buying a new home (furniture, decorations, landscaping enhancements) and to shop for a favorable mortgage. So while the kids are shuffled to activities, holiday festivities are in full swing and winter sets in; buyers can relax and wait for their dream home to be complete! Plus, they’ll be getting a brand new home with a helpful on-site sales staff to ease the process, so getting the keys to that band new home is nothing but smiles. Furthermore, new reports show mortgage rates are currently lower than any other point this year. With rates averaging 3.99% for a 30-year fixed home loan, buyers can go into home ownership sleeping soundly.

This is a decrease from the average 4.08% that has been steady since the start of 2017. A recent low supply of homes on the market has fueled higher prices for single family homes, but with mortgage rates on a steady decline, popularity in home shopping has increased. Looking to make sales prior to the winter season, builders often offer special incentives in the fall, making this an even more desirable time for buyers. Home shopping can be daunting at any time of the year, but with summer move-in dates, competitive pricing, personal design choices and favorable interest rates, new construction could be the solution fall home buyers are looking for. So get out and start shopping. The perfect home could be right around the corner!

Bulletin Board | 35 | www.shorebuilders.org

Bulletin Board | 36 | www.shorebuilders.org