$\"Think$ \n

Most people think a newly built home costs more than an existing one. But right now, that\u2019s actually backwards. Newly built homes are more affordable than existing ones in a lot of markets. And that\u2019s because builders are cutting prices and stacking on incentives to try to keep their inventory moving.<\/p>\n

Here\u2019s why that\u2019s really important for any would-be homebuyer to know.<\/p>\n

Newly Built Homes Are the Better Deal Right Now<\/strong><\/h4>\n
According to the latest data from the Census<\/u><\/em><\/a> and the National Association of Realtors<\/u><\/em><\/a> (NAR), a newly built home now typically costs about $40,000 less than an existing one (see graph below<\/em>):<\/p>\n
$\"a$ Builders aren\u2019t like homeowners who can wait for the right offer. Unsold homes cost them money as long as they sit empty. So, builders cut prices and add incentives to keep them moving. That trend has carried into August. NAHB\u2019s latest numbers<\/u><\/a>:<\/p>\n
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35% of builders cut prices, with an average reduction of 6%.\u00a0<\/p>\n<\/li>\n
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63% offered incentives<\/u><\/a> like covering closing costs or buying down your mortgage rate.\u00a0<\/p>\n<\/li>\n<\/ul>\n
And those incentives can make a real dent in what you pay upfront and every month after. Plus, since everything is new and many builders offer warranties, you could save on home maintenance costs too. And with affordability where it is, every dollar counts.<\/p>\n
So, don\u2019t cross new builds<\/u><\/a> off your list just yet. Yes, you may think<\/em> they cost more, but that\u2019s not always the case.\u00a0<\/p>\n
If you can get brand-new everything for less than buying an existing home, isn\u2019t that at least worth looking into?\u00a0<\/strong><\/p>\n
Don\u2019t Let the Builder Pick Your Teammate<\/strong><\/h4>\n
But before you tour a single model home, there\u2019s one thing worth figuring out first \u2013 who\u2019s actually working for you once you walk through that door.<\/p>\n
That friendly rep in the builder\u2019s sales office works for the builder, not you. Their job is to protect the builder\u2019s bottom line, not yours. Your own agent flips that.\u00a0<\/p>\n
They know the local market, so they can tell you if the builder\u2019s price and upgrades stack up against other options nearby. They\u2019ll negotiate on your behalf, whether that\u2019s a lower price, free upgrades, or a rate buydown.\u00a0<\/p>\n
A good agent will also push for a home inspection. Builders won\u2019t always bring it up, but it\u2019s a step you shouldn\u2019t skip, even on a new build. And your agent will be in your corner, so you know what you\u2019re buying and get the best deal possible.\u00a0<\/p>\n
Bottom Line<\/h3>\n
New homes may actually cost less than an existing home right now. And that\u2019s opening up a window for you to get brand-new for less.<\/p>\n
If you want a list of new home communities near you that are currently offering incentives or doing price cuts, reach out to a local agent. When you have your own agent, you\u2019ll have someone in your corner helping you get the best deal possible.\u00a0\u00a0<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
Most people think a newly built home costs more than an existing one. But right now, that\u2019s actually backwards. Newly built homes are more affordable than existing ones in a lot of markets. And that\u2019s because builders are cutting prices and stacking on incentives to try to keep their inventory moving. Here\u2019s why that\u2019s really […]<\/p>\n","protected":false},"author":1,"featured_media":6628,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_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-6627","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