Adding New Builds to Your Home Search

Why It May Be Time To Add Newly Built Homes to Your Search | MyKCM

If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market. If you’re willing to work with a trusted agent to consider a newly built home, you may have even more options and incentives than you realize. That may be why the National Association of Home Builders (NAHB) says the share of buyers looking for new construction is increasing:

“According to the quarterly Housing Trends Report, the popularity of new construction homes is continuing to rebound . . .”

Here’s a few reasons more buyers may be drawn to newly built homes.

More Options To Choose from and Potential Builder Incentives

When looking for a home, you can choose between existing homes (those that are already built and previously owned) and newly constructed ones. While the inventory of existing homes has increased this year, it’s still below more typical years like 2019. Currently, according to the National Association of Realtors (NAR), there is a 3.2-month supply at the current sales pace. For reference, a roughly 6-month supply is considered a balanced market, leaving us in a sellers’ market today.

While it’s a smaller segment of the overall inventory of homes for sale, the supply of newly built homes has grown even more. The National Association of Home Builders (NAHB) explains:

New single-family home inventory remained elevated at a 9.2 months’ supply (of varying stages of construction). A measure near a 6 months’ supply is considered balanced.”

Here’s why this matters for you. While you have more homes to choose from in either category, there’s one extra benefit of newly built homes. Because the inventory of newly built homes has grown so much, builders are motivated to sell their properties before they build more.

Back in the housing crash of 2008, builders were building too many homes, and that oversupply is part of what contributed to the housing bubble bursting. Now, builders don’t want to have a surplus of inventory in their pipeline, and many are offering buyers incentives to help move that inventory along. As Doug Duncan, Chief Economist at Fannie Maeexplains:

“. . . a continual increase in the number of completed homes available for sale is now occurring, with the inventories of such homes now at the highest level since July 2020. . . . This suggests to us that builders may be increasingly willing to offer more aggressive incentives and discounts to maintain sales of completed inventory.”

While specifics will vary by builder and market, some buyers are seeing builders reduce prices and offer incentives. To find out what’s available in your area, lean on a trusted real estate professional.

Lifestyle Benefits of Buying a Newly Built Home

In addition to more supply and the potential for builder incentives, newly built homes have various benefits that may suit your lifestyle. For example, you likely won’t have as many little repairs to tackle, like leaky faucets, shutters to paint, and other odd jobs around the house. That can free up time for you to do other things you’re passionate about.

Another perk of a new home is that nothing in the house is used. It’s brand new and uniquely yours from day one. You’ll have all new appliances, windows, roofing, and more. These things can help lower your energy costs, which can add up to significant savings over time. You may even have the latest and greatest technology features built into your new home.

Builder sums up why some buyers today are turning to newly built homes:

“For some, it’s the lure of something new and modern. For others, it’s the move-in ready experience. And now there’s another factor to consider when making this decision: technology.”

If any of these benefits appeal to you, it’s time to connect with a trusted real estate advisor to learn more.

Bottom Line

If you’re considering a newly built home, let’s connect so you have an expert guide on what’s available in our local market. Together we’ll explore your options and the benefits of an all-new home.

66 Properties
Page 1 of 6
3
Beds
1F11/2
Baths
1,584
Sq.Ft.
1970
Year Built
1
Day on Site
22050085
MLS
Hudsonville Real Estate - Welcome Home! Wonderful care shows throughout this home featuring a main level with 3 nice size bedrooms, beautiful full bathroom, front facing living room and a convenient...
4
Beds
2F11/2
Baths
1,870
Sq.Ft.
2020
Year Built
1
Day on Site
22050086
MLS
This lovely almost new 2-story Byron Center home boast multiple upgrades and gorgeous curb appeal. With 4 Beds and 3 Baths, the open concept layout includes all the amenities you have been looking...
3
Beds
2
Baths
2,080
Sq.Ft.
1900
Year Built
1
Day on Site
22050089
MLS
Classic turn of the century 2.5 story farmhouse. This home hosts a remodeled kitchen with an eating area, snack bar and pantry. Formal dining room and a huge living room, full bath and main floor...
3
Beds
3
Baths
1,945
Sq.Ft.
2004
Year Built
1
Day on Site
22050093
MLS
Open House this Saturday, 12/10 from 11 a.m. to 1 p.m. Welcome to maintenance free living at its finest here in Bailey's Grove! No shoveling snow for you this winter! As you enter from the front...
2
Beds
2
Baths
1,868
Sq.Ft.
1999
Year Built
1
Day on Site
22050099
MLS
There is a lot to love with this 2 stall condo in the award winning Byron Center Public Schools that has no neighbors behind, just a beautiful woods area. The main floor has an open floor plan and...
4
Beds
2
Baths
1,800
Sq.Ft.
1971
Year Built
1
Day on Site
22050098
MLS
This beautiful 4 bed, 2 bath home, nestled on 3.35 acres in Caledonia Schools is now available! With a confirmed splittable lot, a 1200 sq ft pole barn, and a flowing creek in the back, this home and...
2
Beds
2
Baths
2,004
Sq.Ft.
1990
Year Built
1
Day on Site
22050103
MLS
This 2 bedroom, 2 bathroom condo offers an open concept main floor with plenty of natural light that makes the space bright, airy and cheerful. The welcoming kitchen overlooks the dining room and...
4
Beds
3F11/2
Baths
2,326
Sq.Ft.
1997
Year Built
1
Day on Site
22050104
MLS
This 4-bedroom Northview home is tucked away in Paramount Estates conveniently close to major highways but in a beautiful & private setting. Offering wonderful features such as open kitchen w/...
6
Beds
3F11/2
Baths
3,388
Sq.Ft.
1994
Year Built
1
Day on Site
22028101
MLS
So much living space in this fantastic, executive, 2-story home in Grandville Schools!! 6 bedrooms, 3.5 baths! Many updates were made in 2017 including new and refinished hardwood flooring, fresh...
2
Beds
2
Baths
883
Sq.Ft.
1986
Year Built
1
Day on Site
22050115
MLS
Stunning entirely remodeled Condo in Northview Schools! Updates include...Refinished walls omitting texture, ceilings, New paint throughout, new doors, craftsman trim, & freshly painted Kitchen...
2
Beds
1
Baths
1,413
Sq.Ft.
1912
Year Built
1
Day on Site
22050124
MLS
Welcome to 1820 Haines Street SW. This is a great opportunity to own this two bedroom one bathroom home. This two-story home sits on a quarter of an acre lot with a spacious yard, wrap-around porch...
3
Beds
1
Baths
1,190
Sq.Ft.
1943
Year Built
1
Day on Site
22050126
MLS
Welcome to Lancashire. Located 10 minutes from down-town GR, or Gerald R Ford airport. Walking distance to Ken-O-Sha Park just around the corner AND the elementary school just across the street. This...

Tags: 

Ada Homes for Sale, Allegan Homes for Sale, Belding Homes for Sale,  Byron Center Homes for Sale, Caledonia Homes for Sale, Cedar Springs Homes for Sale, Comstock Park Homes for Sale,  Downtown Grand Rapids Condos for Sale, East Grand Homes for Sale, Featured ListingsForest Hills Homes for Sale, Grandville Homes for Sale, Grand Haven Homes for Sale, Grand Rapids Condos for Sale, Grand Rapids Homes for Sale, Greenville Homes for Sale, Holland Homes for Sale, Hudsonville Homes for Sale, Jenison Homes for Sale, Kenowa HIlls Homes for SaleKent City Homes for Sale, Kalamazoo Homes for Sale, Kentwood Homes for Sale, Lakefront Homes for Sale, Lake Michigan Homes for Sale, Lowell Homes for Sale, Newaygo Homes for Sale, Muskegon Condos for Sale, Northview School District Homes for Sale, Norton Shores Homes for Sale, Paw Paw Homes for Sale, Portage Homes for Sale, Rockford Homes for Sale, Sparta Homes for Sale, Tri County Homes for Sale, Vicksburg Homes for Sale, Walker Homes for Sale, Wayland Homes for Sale, Wyoming Home for Sale,
Zeeland Homes for Sale

Search for Condos

Byron Center Condos for Sale, Caledonia Condos for Sale, Downtown Grand Rapids Condos for Sale, Forest Hills Condos for Sale, Grandville Condos for Sale, Grand Rapids Condos for Sale, Jenison Condos for Sale, Kentwood Condos for Sale, Lowell Condos for Sale, Rockford Condos for Sale, Walker Condos for Sale, Wyoming Condos for Sale

Community Information

Ada Realtor, Belding Realtor, Byron Center Realtor, Caledonia Realtor, Cedar Springs Realtor, Comstock Park Realtor, East Grand Rapids Realtor, Forest Hills Realtor, Grandville Realtor, Grand Haven Realtor, Grand Rapids Realtor, Greenville Realtor, Holland Realtor, Hudsonville Realtor, Jenison Realtor, Kalamazoo Realtor, Kentwood Realtor, Lowell Realtor, Paw Paw Realtor, Rockford Realtor, Sparta Realtor, Walker Realtor, Wyoming Realtor, Zeeland Realtor,
Grand Rapids Foreclosures, Preferred Providers,  Blog

Post a Comment