Whats Motivating More Buyers To Choose a Newly Built Home?

Planning to buy a home soon? Why not go for something brand-new? Because data shows a lot more buyers are seeing the appeal of new home construction these days and you may find out its what you want too.

The National Association of Realtors (NAR), explains that newly built homes accounted for 15% of all homes sold last year. Thats a significant increase, and is actually the highest percentage in 17 years (see graph below):

To get a closer look at why so many people are opting for a brand-new home, NAR surveyed recent buyers. And here are the top reasons why new builds gained so much popularity (see graph below):

Avoiding Renovations or Problems with Plumbing or Electricity (42%)

According to buyers, the number one benefit is the peace of mind that comes with getting brand-new everything. Because lets face it, buying a home right now is pricey. And with inflation also putting a pinch on your wallet, you want to do everything you can to cut down on any additional costs. Enter new builds.

A home that was just built is less likely to have unexpected repairs, and that means less maintenance youll need to budget for upfront. Plus, since many builders include warranties on their homes, thats an added layer of protection for your wallet on some of the homes major systems.

Ability To Choose and Customize Design Features (27%)

You may also get the chance to personalize parts of the build to your unique tastes. That can be as small as which knobs go on the cabinets and which light fixture goes in the dining room to as big as floor plans and siding color. So, if youre not finding a home you like, it may be time to build one.

The Amenities of New Home Construction Communities (25%)

Many new developments also offer amenities like parks, pools, fitness centers, and community spaces. These features could help you feel more connected to your neighborhood and can be a great perk for your lifestyle.

Lack of Inventory of Previously Owned Homes (15%)

Since the supply of existing homes (homes that were previously lived in) is still lower than the norm, more people are asking their agents if they can see what builders have available and builders arent disappointing. Right now, new builds make up a larger portion of the homes available for sale than the norm. So, checking out these homes can really open up your pool of options. And dont worry builders are not overbuilding. Theyre just catching up after years of underbuilding.

Energy Efficiency (14%)

Not to mention, newly built homes usually have the latest energy-efficient materials and technologies. This not only feels good, but can also lead to lower utility bills and a reduced environmental footprint. In a U.S. News Real Estate interview with Kevin Morrow, Senior Program Manager at the National Association of Home Builders (NAHB), this topic came up:

The more energy-efficient mechanics of the house also help reduce utility bills for new home buyers . . . Newly-constructed homes often include green systems and applianceslike high efficiency stoves, refrigerators, washing machines, water heaters, furnaces, or air conditioning unitsthat homes built years ago might not.

Smart Home Features (11%)

And last on this list is the integration of smart technologies. Tech-savvy buyers often want the latest and greatest advancements and new home construction usually delivers.

The Importance of Using Your Own Agent

Newly built homes are becoming a top pick for buyers these days, and its easy to see why. If youre feeling motivated to see whats out there, just remember you need to have your own real estate agent.

Builder contracts often have some complex terms and complicated fine print. If you bring your own agent, youll have someone to advocate for you, make sure youre getting quality construction, and guide you through the process from start to finish. 

Bottom Line

Imagine skipping the hassle of renovations and having the freedom to pick out the exact design features you want. If this sounds good to you, connect with a local agent to make sure youve got an expert on your side to help you negotiate with the builder so you can buy a new home with confidence.

Venessa James - Broker Associate    

ABR, ALHS, CHMS, MCNE, LUXE, SFR, SRS  

Platinum Experience Group - KW Professionals 

(281) 889-8292 platinumexperiencegroup.com

Integrity, Experience, Results