Why Build New Construction in Today's Market?
Why Build New Construction in Today's Market?
In today's Florida real estate market, it's a question we hear everyday. There are still plenty of houses in inventory, so why would I choose new construction with prices so great on existing homes?
Well, for the people who would choose new construction in another market; it's still a great choice today. There are many reasons why homebuyers want new construction over buying an existing house or condominium. Some of these include:
The fact that it's a brand new home. The structure and all the fixtures are brand new, which eliminates worry of something going wrong in the near future.
With new construction, you can choose features like paint colors and flooring, so that your home looks just the way you want it when you move in.
New construction often allows you to move into up and coming neighborhoods.
New construction is the only way to get a completely custom home.
Home Builders are giving generous incentives to you as a buyer. These can range from paying all closings costs, buying down your mortgage's interest rate, paying your HOA fees for a period of time, "free" upgrades, or many other types consideration.
There are so many choices in new construction in the Florida real estate market that it's certain you can find exactly the home you want within your budget.
Because of the wide variety of types of residents in Central Florida, we have one of the widest ranges of housing types available anywhere in the country:
Retirees demand small single-family homes and low rise condominiums and townhouses.
Large numbers of family vacationers flock to condominiums and townhomes available for short-term rental. This attracts plenty of real estate investors who may use their condos occasionally and rent them out at other times.
Our large number of urban dwellers in cities like Orlando mean we have plenty of high-rise housing, too.
We have lots of young professional families who desire single family homes in family oriented neighborhoods.
We have more than our share of the wealthy. Many celebrities and professional athletes call our area home. This means we require a larger than average inventory of million dollar plus homes.
So, what does this mean for the average homebuyer in Central Florida? Well, in short, it means that you have lots of choice when you make Central Florida your full time or part time home. New construction of every kind is going up everyday, and the inventory is high.
Many people are afraid that they won't get as good a deal in choosing new construction as they would when buying an existing home. However, building materials are affordable and builders often have inventory that they need to sell so that they can afford to keep building. So, while the price on a newly constructed home might not be as negotiable as the price on an existing home; you can still get a very good deal.
So, don't discount the value of buying new construction in Central Florida. There are few places in the country where you'll have so much choice in type of housing and type of community. And, in today's market, you can be assured of getting a really good deal whether you choose existing construction or you elect to build something brand new.
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