WRITTEN BY GERI BARROWS
The Benefits of Buying a New Build Home
In today's bustling real estate market, finding the perfect home in Chittenden County - and beyond - can feel like searching for a needle in a haystack. With low inventory levels, prospective buyers are faced with tough competition and limited options. This spring, we project homes to see multiple offers - with many buyers waiving inspections and appraisals, and bringing whatever they can to the table to secure a home. However, amidst this challenge, there lies a golden opportunity: purchasing a new build home.
If you look at our current Active Inventory today (this means, homes available for sale) in Chittenden County - over 40% of the inventory are new builds! New builds may be a bit more expensive on face value, but you can generally avoid a bidding war, unpredictable timelines, and crazy terms to get a deal done. While new builds generally require 10-20% down up front, most turn-keys can be financed conventionally and offer a solid financial solution over time.
Here are the key advantages of opting for a new build home in the current competitive real estate landscape:
- Control Over Timeline: One of the most enticing aspects of buying a new build home is the ability to control the timeline of the construction process. Unlike purchasing an existing home, where closing dates may be subject to various factors, buying new allows you to plan your move with greater certainty.
- Customization: Many builders offer customization options, allowing you to tailor the finishes (and in some cases, the design) of your home to suit your preferences and lifestyle.
- Price Predictability: In a competitive market, bidding wars and escalating prices can make budgeting a challenge for home buyers. However, with a new build home, you can often lock in the price early in the process, providing valuable predictability and peace of mind. This can be especially beneficial in a market where prices are on the rise and existing inventory gets bid up fairly quickly.
- Savings on Repairs and Updates: Older homes often come with a laundry list of repairs and updates that may be needed immediately or in the near future. From outdated plumbing and electrical systems to worn-out appliances and roofing, these expenses can quickly add up. By choosing a new build home, you can avoid these costly surprises and enjoy the peace of mind that comes with a brand-new, low-maintenance property.
- Energy Efficiency: Energy-efficiency is a priority for many Vermont builders, and they adhere to strict standards and codes for new properties. From appliances to energy-rated windows and insulation, new build homes can save you in energy costs, on-going maintenance, while also providing a care-free living environment.
- Builder Warranty: Another significant advantage of buying a new build home is the assurance of a builder warranty. Most reputable builders offer warranties that cover structural defects and other issues for a period of one to two years after purchase. This protection provides added security and financial peace of mind, allowing you to settle into your new home with confidence.
While navigating Chittenden County’s low inventory real estate market may present its challenges, buying a new build home offers a compelling solution. Investing in a new build home can be a smart decision for buyers seeking both quality and peace of mind in their home purchase journey.
Pursuit Real Estate is proud to be a partner with Sterling Homes, one of the areas most reputable builders with a focus on quality builds, customer service and energy efficiency. If you are in the market for a new home, you can preview some of their available homes here or contact us to help you find a property in your desired location. We can guide you through the process and help you make choices that best fit your needs and goals.
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For further information, please contact:
Geri Barrows
Licensed Associate
p. 803-735-7127
e. [email protected]
