Many of your clients may still be considering a foreclosed or short-sale home instead of buying new in order to save some money. But while the up-front cost may be lower on a foreclosure or short sale, buyers may pay in other ways. Here are four reasons for considering the purchase of a new home.
1. Easy Purchase Process. Homebuilders often have new homes available for immediate move-in. Those homes may also come with savings and incentives that could make them a good value. Plus, homebuilders typically have preferred lenders who can provide competitive financing rates as well as help your clients close on a home faster than some buyers who purchase a short sale.
2. Quality Assurance. With a new home, there are typically no repairs or surprises. New homes are generally protected by warranties from the builder, so your clients may avoid large out-of-pocket expenses from repairs right after purchase. Plus, they’re built to the latest housing codes.
3. Latest Technology. New homes are often built with modern conveniences like home automation that the typical resale home may not include. New homes may utilize the latest green building technology, so they can be energy-efficient and save on monthly utility bills.
4. Many Choices. Homebuilders offer a wide variety of choices that may not exist in the resale market. For instance, there’s a growing demand for homes designed for multi-generational living. This concept can include a completely separate, full private suite in addition to the main home, and is designed specifically for dual living arrangements.
And thank you for making me Your Orange County Real Estate Connection.
Michael Caruso, Broker ABR ABRM CLHMS CRB CRS GREEN GRI
Past President, Orange County Association of Realtors (949) 753-7900