{"id":5292,"date":"2024-01-16T05:30:00","date_gmt":"2024-01-16T11:30:00","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/why-you-may-want-to-seriously-consider-a-newly-built-home\/"},"modified":"2024-01-18T20:56:34","modified_gmt":"2024-01-19T02:56:34","slug":"why-you-may-want-to-seriously-consider-a-newly-built-home","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/why-you-may-want-to-seriously-consider-a-newly-built-home\/","title":{"rendered":"Why You May Want To Seriously Consider a Newly Built Home"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.keepingcurrentmatters.com\/KeepingCurrentMatters\/content\/images\/20240109\/20240116-Why-You-May-Want-To-Seriously-Consider-a-Newly-Built-Home.png?w=358&#038;ssl=1\" alt=\"Why You May Want To Seriously Consider a Newly Built Home Simplifying The Market\" loading=\"lazy\" style=\"margin-bottom: 5px;clear: both;max-width: 100%\" \/><\/p>\n<p>Are you putting off your plans <a href=\"https:\/\/www.simplifyingthemarket.com\/2023\/12\/29\/the-benefits-of-working-with-an-agent-when-you-sell-your-house-infographic\/?a=375140-ca8522ad04357da9549c08492a932f70\" rel=\"noopener noreferrer\" target=\"_blank\">to sell<\/a> because you\u2019re worried you won\u2019t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here\u2019s why.<\/p>\n<h4><strong>Near-Record Percentage of New Home Inventory<\/strong><\/h4>\n<p>Newly built homes are becoming an increasingly significant part of today\u2019s housing inventory. According to the most recent report from the <a href=\"https:\/\/www.nahb.org\/news-and-economics\/press-releases\/2023\/12\/new-home-sales-down-in-november-but-should-improve-moving-forward\" rel=\"noopener noreferrer\" target=\"_blank\"><em>National Association of Home Builders<\/em><\/a> (NAHB):<\/p>\n<blockquote><p>\u201c<em>Newly built homes available for sale accounted for 31% of total homes available for sale in November, compared to an approximate 12% historical average.\u201d<\/em><\/p><\/blockquote>\n<p><strong>That means the percentage of the total homes available to buy that are newly built is well over two times higher than the norm. <\/strong>And even more new homes are on the way. <\/p>\n<p><a href=\"https:\/\/www.census.gov\/construction\/nrc\/pdf\/newresconst.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">Recent&nbsp;data<\/a> from the <em>Census<\/em> shows there\u2019s been an uptick in both housing starts (where builders break ground on more new homes) and housing completions (homes where construction just wrapped). <\/p>\n<p>And while some people may worry builders are building too many homes, that isn\u2019t a concern \u2013 if anything, the recent increase is really good news. As Lawrence Yun, Chief Economist at the <em>National Association of Realtors<\/em> (NAR), <a href=\"https:\/\/www.nar.realtor\/magazine\/real-estate-news\/home-sales-start-to-rise-building-momentum-for-2024\" rel=\"noopener noreferrer\" target=\"_blank\">explains<\/a>:<\/p>\n<blockquote><p><em>\u201cEven more home building will be needed with the housing shortage persisting in most markets . . . <\/em><strong><em>Another 30% rise in home construction can easily be absorbed in the marketplace<\/em><\/strong><em> . . .\u201d<\/em><\/p><\/blockquote>\n<h4><strong>How This Helps You&nbsp;<\/strong><\/h4>\n<p>Since the supply of existing <a href=\"https:\/\/www.simplifyingthemarket.com\/2023\/12\/18\/why-now-is-still-a-great-time-to-sell-your-house\/?a=375140-ca8522ad04357da9549c08492a932f70\" rel=\"noopener noreferrer\" target=\"_blank\">homes for sale<\/a> is still low right now, the increase of new-home construction can be a game changer because it gives you more options for your search. <\/p>\n<p>Picture yourself in a home that\u2019s new from the ground up: new appliances, fresh paint, fewer maintenance needs because everything is new, and so much more. Doesn\u2019t that sound nice? <\/p>\n<p>And it may be more within reach than you ever imagined. In addition, some builders are offering things like mortgage rate buy-downs for homebuyers right now. This can help offset today\u2019s affordability challenges while also getting you into your dream home. In a recent article, Patrick Duffy, Senior Real Estate Economist at <em>U.S. News, <\/em><a href=\"https:\/\/realestate.usnews.com\/real-estate\/articles\/things-to-know-before-building-a-new-home\" rel=\"noopener noreferrer\" target=\"_blank\">explains<\/a>:<\/p>\n<blockquote><p><em>\u201cBuilders have been using mortgage interest rate buydowns for many years as a sales incentive whenever interest rates are relatively high, . . .<\/em><strong><em>Today more builders are offering rate buydowns for the entirety of the loan, allowing buyers to finance more home for the same payment amount<\/em><\/strong><em>.\u201d<\/em><\/p><\/blockquote>\n<p>Just remember, the process of buying from a builder is different from buying from a home seller, so it\u2019s important to partner with a trusted <a href=\"https:\/\/www.simplifyingthemarket.com\/2023\/12\/21\/sell-smarter-why-working-with-a-real-estate-agent-may-beat-going-solo\/?a=375140-ca8522ad04357da9549c08492a932f70\" rel=\"noopener noreferrer\" target=\"_blank\">real estate agent<\/a> who knows the local market. They\u2019ll be your go-to resource for coordinating with the builder, reviewing contracts, and more.<\/p>\n<h3>Bottom Line<\/h3>\n<p>If you\u2019re trying to sell so you can make a move but you\u2019re having a hard time finding a home you like, connect with a local real estate agent to explore all of your options, including the newly built homes in our area.<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you putting off your plans to sell because you\u2019re worried you won\u2019t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here\u2019s why. Near-Record Percentage of New Home Inventory Newly built homes are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5293,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-5292","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why You May Want To Seriously Consider a Newly Built Home&#8212;NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/why-you-may-want-to-seriously-consider-a-newly-built-home\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why You May Want To Seriously Consider a Newly Built Home&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"Are you putting off your plans to sell because you\u2019re worried you won\u2019t be able to find a home you like when you move? 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