article thumbnail

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.

article thumbnail

NAR’s Lawrence Yun predicts lower rates, 15% jump in existing-home sales in 2024

Housing Wire

He began his presentation during the “Residential Economic Issues and Trends Forum” by analyzing the data points that impacted 2023 real estate conditions before diving into forecasts for next year. In 2023, new-home sales are up 5% year to date, Yun said. Consumers are happy with real estate service.

Sales 454
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

New Year, New Home? 9 Myths About Buying a New-Construction House That Actually Aren’t True

Realtor.com

Getty Images Many first-time homebuyers might shy away from the prospect of buying a brand-new home, assuming: It will cost too much. While purchasing new construction is indeed different from purchasing previously owned property, many misconceptions abound about new builds. New construction homes are more expensive.

article thumbnail

Why You Need a Realtor to Buy New Construction

Realty Biz

Buying a new construction home involves a different process than buying an existing home, and some people wonder if they need a real estate agent at all to buy one. While you technically do not need a realtor to represent you when you buy a new construction home, there are a few reasons it would be in your best interest to do so.

article thumbnail

Benefits of Investing in New Construction Real Estate

Norada Real Estate

When it comes to investing in residential real estate, there are only two basic types of property you can invest in – new construction and resale. New construction properties are those that are purchased directly from the builder or developer who constructed the property. They are the owner and seller.

article thumbnail

The Most Luxurious New Construction Condo Developments in the U.S. Right Now

Realty Biz

Residential construction in the U.S. Despite declines in both affordability and availability, however, the luxury new construction condo market across the country features more than a few intriguing options, starting with these high-profile developments: 1000M – Chicago, IL. 505 – Nashville, TN.

article thumbnail

What Are Builder Incentives? The Secret to Getting a Deal on a New-Construction Home

Realtor.com

to “Purchase before X date, and we’ll pay all of your closing costs.”. Many happen at the initial launch to help generate buzz for a new community and get the first few residents on board. Builders often work closely with certain lenders because they want to know that the loan will close without delay once the home is completed.