Disclosure: Transcribed from video. The wording may be off.

How can new construction help you get into a home and save you money?

Let's be real right now the real estate market is difficult. People want to buy homes, but they are either too expensive, inventory is low, so you can't find anything you want. People have to rent, and rent is going up. So what do you do? Don't panic. There are still great options out there if you turn to new construction. 

Here are a few reasons why:

One of the biggest ways that new construction can help you as a buyer is through builder incentives, and the way to get these incentives is to use the builder's preferred lender. Not all builders offer incentives, but the ones that do and the one I see most often is money towards closing costs. What are closing costs?

Closings costs - Fees associated with processing the loan (loan origination fee, underwriting fee, attorney fee, etc.)

Down payment - A percentage of the total purchase price due at closing.

If you are like everyone else, you love getting into a multiple offer situation and driving the price up on the home that you love and then paying more than you should of, right? No. Nobody likes doing that. That is why new construction is great for you. Many of these communities you can visit, and if you like a home, you can put your name on a list, and they will call you when that property comes available. This means no more multiple offers, no more driving the price up, and no more sitting around hoping your offer is accepted. 

Build times for many communities are 8+ months. If this is too long for you, it might be worth looking towards inventory homes. Inventory homes are homes that the builder already has planned to build. They have already picked the interior, exterior, and the lot. If this is something you are interested in, please reach out to a real estate agent. 

Another huge benefit of new construction is the builder's warranty attaches to the homes. 

• 1-year warranty on workmanship and materials
• 2-year warranty on electric, plumbing, and mechanical systems
• 3-year warranty on foundation, framing, and roofing 

Now I can't predict the future, but another great opportunity with new construction is the ability to gain equity. These communities build in phases and have 5-6 floor plans to choose from. As each plan is sold, you can see the price increase.

Now it would not be fair for me to talk about all the benefits of new construction without discussing some of the negatives. 

1. Debris and noise.
2. Community location
3. HOA's
4. Build times

*Disclaimer - All neighborhoods are different. Please speak to an agent to get all the facts straight. Also, equity is not guaranteed and fluctuates with the real estate market.

If you have questions about new construction, please reach out to me. The builder pays the commission, and it is my job to be knowledgeable about these communities.

Brandon Holley

Broker - Holley Homes Realty

Phone - 512.487.9242

Email - brandon@holleyhomesrealty.com

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