For new home buyers. Buying a new construction home may be suitable if you find being the first person to live in a home exciting. New homes or preconstruction homes may better fit your budgetary requirements.
Before jumping in with both feet, however, you must know a few things.
You may not find new construction in the MLS. For buyers, new homes won’t show up in their agent’s MLS search.
New homes often sell before they’re built. There will likely be many homes similar to each other in size and design before the project is complete.
First, buyers get the best deals. However, being a first buyer does come with some risk. Once you contract for a new home, you’re committed to the project.
You may be able to negotiate upgrades. If you’re interested in buying a new construction home in a project that’s nearing the end of its sales cycle, it’s more challenging to negotiate a lower purchase price.
