{"id":4519,"date":"2024-01-16T11:50:37","date_gmt":"2024-01-16T11:50:37","guid":{"rendered":"https:\/\/sandpointrealtyidaho.com\/blog\/2024\/01\/16\/why-you-may-want-to-seriously-consider-a-newly-built-home\/"},"modified":"2024-01-16T11:50:37","modified_gmt":"2024-01-16T11:50:37","slug":"why-you-may-want-to-seriously-consider-a-newly-built-home","status":"publish","type":"post","link":"https:\/\/sandpointrealtyidaho.com\/blog\/2024\/01\/16\/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":"

\n

$\"Why$ \n

Are you putting off your plans 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

Near-Record Percentage of New Home Inventory<\/strong><\/h4>\nNewly built homes are becoming an increasingly significant part of today\u2019s housing inventory. According to the most recent report from the National Association of Home Builders<\/em><\/a> (NAHB):<\/p>\n
\u201cNewly 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
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
Recent\u00a0data<\/a> from the 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
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 National Association of Realtors<\/em> (NAR), explains<\/a>:<\/p>\n
\u201cEven more home building will be needed with the housing shortage persisting in most markets . . . <\/em>Another 30% rise in home construction can easily be absorbed in the marketplace<\/em><\/strong> . . .\u201d<\/em><\/p><\/blockquote>\n
How This Helps You\u00a0<\/strong><\/h4>\nSince the supply of existing 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
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
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 U.S. News, <\/em>explains<\/a>:<\/p>\n
\u201cBuilders have been using mortgage interest rate buydowns for many years as a sales incentive whenever interest rates are relatively high, . . .<\/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>.\u201d<\/em><\/p><\/blockquote>\n
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 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
Bottom Line<\/h3>\n
If you\u2019re trying to sell<\/a> 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<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
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 […]<\/p>\n","protected":false},"author":1,"featured_media":4520,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_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},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-4519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t