Why you may want to consider a newly built home
Are you hesitating to put your home on the market due to concerns about finding the perfect home when you move? If so, it’s time to explore the incredible advantages that come with opting for a newly built home. In this blog, we’ll delve into the increasing prominence of newly constructed homes in Pace, Florida, and how this trend could be the key to making your move a seamless and fulfilling experience.
The Rising Trend of Newly Built Homes in Pace, Florida:
Recent data from the National Association of Home Builders (NAHB) reveals a significant surge in the availability of newly built homes for sale. In November, these homes accounted for 31% of the total homes available for purchase, a stark contrast to the historical average of approximately 12%. The local housing market is witnessing a notable increase in housing starts and completions, indicating a positive trend for those seeking a new place to call home in Pace, Florida.
Addressing Concerns and Embracing Opportunities:
While some may express concerns about an oversaturation of newly built homes, experts like Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), reassure that more home construction is needed to address the existing housing shortage in most markets. Yun notes that another 30% rise in home construction can be easily absorbed in the marketplace.
How This Benefits You:
With the current scarcity of existing homes for sale, the surge in new-home construction opens up a plethora of options for prospective buyers in Pace, Florida. Imagine moving into a home that is entirely new – from appliances to paint – with minimal maintenance needs. Furthermore, some builders are offering attractive incentives, such as mortgage rate buy-downs, making your dream home more financially feasible.
Understanding Mortgage Rate Buy-Downs:
Builders are adapting to market conditions by offering mortgage rate buy-downs, allowing homebuyers to finance more homes for the same payment amount. Patrick Duffy, Senior Real Estate Economist at U.S. News, emphasizes that this tactic has become more widespread, providing an excellent opportunity for buyers to enhance affordability and secure their dream home.
Navigating the Process with a Trusted Real Estate Agent:
Buying from a builder involves a different process than purchasing from a traditional seller. It is crucial to partner with a trusted real estate agent who understands the local market intricacies. Your agent will serve as a valuable resource, guiding you through coordination with the builder, contract reviews, and other essential steps in the process.
Conclusion:
If you’re feeling stuck in your home-selling journey due to a limited selection of available homes, it’s time to connect with a local expert. In Pace, Florida, newly built homes are transforming the real estate landscape, offering a multitude of possibilities. Let us be your guide to explore all the options available, including the exciting opportunities presented by the growing trend of newly constructed homes.
