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7 Smart Ways To Lower the Cost of Buying a New-Construction Home

Realtor.com

Compare that with a preexisting home’s median price of $396,300 , and it’s clear that buying brand-new might set you back tens of thousands of dollars extra. But homebuyers should also know that they can lower the costs of new construction right when they make the purchase through some smart negotiation tactics.

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Getting a Home Loan With Low or No Down Payment

Realty Biz

This type of mortgage can be used, not only, to buy homes in rural areas, but also for renovations, new constructions, and relocating a house. Along with zero down, it offers lower interest rates and closing costs. Money from this loan can be spent on a land purchase, and for connecting utilities.

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10 Steps for Navigating the New Construction Home Buying Process

HomeLight

The average cost of building a new house can range between $165,563 and $474,977 , and it could save you up to 15% in comparison to buying an existing home — but what do you know about the new construction homebuying process? Have you weighed all the pros and cons of buying new? Pros of new construction.

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11 Things to Do Before Listing Your Home That Are Worth the Effort

HomeLight

Gather repair and renovation records. If you’ve lived in your home for a significant length of time, chances are you have the records or receipts for appliance repairs and upgrades, renovations big and small, as well as services to your HVAC and fireplace. That’s why agents may recommend light renovation projects. Escrow fees.

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How to Find (And Qualify For) a Build Your Own House Program

HomeLight

Still, some areas may use conventional loans to provide construction and permanent loans to the participants. The funds can be used to build, repair, or renovate an existing dwelling. They have to cover closing costs (around $4,500 to $5,000), plus a down payment for the house itself ($600). Section 523 grant.

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Stop and Ask These 23 Questions When Buying New Home Construction

HomeLight

A new construction home — yours from the ground up, with no prior owners — sparkles with possibility. Here, we’ve enlisted the expert advice of top agents, industry insiders, and recent homebuyers to address key questions to ask when buying a new construction home. Should I hire an agent for new construction?

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Bridge Loans in Texas: How to Unlock Home Equity to Buy Before You Sell

HomeLight

A bridge loan for a real estate transaction is a short-term loan that enables homeowners to purchase a new home before their current home sells. Also called a swing loan or bridging loan, it allows a homeowner to leverage the equity in the home they’re selling to provide the funds for a down payment and closing costs on their new house.

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