No one quite saw it coming.
Once the pandemic took hold, constraining business and prompting shelter-in-place orders, the economic outlook appeared grim.
While housing numbers lagged early on, they’ve made an incredible comeback, fueled by determination and resolve.
Families and first-time homebuyers have also been lifted by low interest rates and wage growth.
If you’re thinking about buying a newly built home, here are some tips that can help you on your path to homeownership.
New v. existing build
The first step is to jot down a list of must-have features, including whether you want to buy new or not.
Many items on your list will help you decide on the big question: Should I buy a new home?
Do you value open floor plans, flexible living space, energy-saving features and personalized design? Then going new is the logical choice.
Speaking of personalization, if you and your family crave custom touches and want to feel like the home is truly yours, looking at new builds can be helpful.
Builders provide buyers design studios so you can see what older homes are missing out on.
Touring the studios in-person or online will give you a trove of ideas and specifics to look for in the features you want the most.
Feeling at home by extension means loving your community, too.
Not only should new homebuyers shop around for home features, but they should also research nearby amenities.
Parks, playgrounds, shopping, libraries, desirable schools, access to public transportation and freeway access are key ingredients to a vibrant community.
Put these features on your list and you may end up with a home and community of your dreams.
What’s your budget?
Affordability is a huge factor.
New homeowners must think about both month-to-month payments and upfront costs.
A successful path to homeownership must include a buyer’s thorough understanding of all costs, including those that will be ongoing throughout ownership. Speak to a lender to determine your options.
If you’re ready to buy a home, please do not hesitate to reach out to us to learn more about today’s exciting opportunities and the various loan options ready to assist you.