Why The Next Two Weeks May Be The Best Time To Buy New Construction All Year

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Why The Next Two Weeks May Be The Best Time To Buy New Construction All Year

If you’re looking to buy a home and you would really like to get something in escrow before the end of the year, you might be facing a “slim pickens” situation. Inventory issues have plagued the market for several years, and despite a positive real estate outlook, the lack of homes has kept many buyers out of the game.

That’s one of the reasons home buyers have been choosing new U.S. homes jumped last month to the highest level since October 2007, a sign that Americans – unable to find existing homes – are turning to new construction,” said USA Today. “New home sales leapt 18.9% in September to a seasonally adjusted annual rate of 667,000, the most in a decade. Sales rose in all regions including the South, where they increased nearly 26%.”

Existing home inventory isn’t expected to get better until at least the last half of 2018. So, if a brand new home is something you’d consider, think about this: the next two weeks could be the best time to buy all year.

Builders are especially motivated to move their homes this time of year so they can get them off the books. Be sure to ask in the sales office about “featured” plans or homes, which may may mean the builder is willing to work with buyers to get these particular homes sold. While that may not mean a discount on the price, builders will often throw in upgrades that make them more attractive.

“A lot of the national builders are publicly traded companies. They need to meet sales goals and answer to the shareholders of that company,” said Inman. “For that reason, toward the end of a quarter, builders tend to be more aggressive with their incentives in order to meet these sales goals. The December holiday season is another great time to buy. Most of the country is out shopping and traveling to see family. Very few people shop for homes this time of the year. For that reason, ’tis the season to find some great incentives to purchase a new home.”

Additional incentives

Many builders also offer thousands of dollars in incentives to buyers who choose to get their loan through the builder’s preferred lender. Those incentives mean “it actually may be less expensive to buy a new home than a resale,” Ron Sozio, builder client relationship manager at Wells Fargo in Somerville, N.J., told New Home Source.

Those builder incentives can include closing costs and/or a buy-down of your interest rate, and can be as much as two or three percent of either the sales price or the loan amount – be sure to ask which one so you have a clear understanding of what you’re paying.

Want more reasons to look at a new construction home? How about the fact that it’s brand new, never been lived in, and reflects your needs, taste, and style? Or, there’s this: If you can find an existing home in your price range and your target area, it’s likely not going to be updated, which means you’re going to have to spend time and money getting it to where you want it to be, or live with someone else’s choices.

If you are going to go look for new construction homes, make sure you bring your real estate agent to ensure you get the best deal. “Some buyers don’t feel a real estate agent is necessary when building a new home. They think that because there is a sales agent on-site they don’t need to bring in anyone else, right? Wrong,” said The Goodhart Group.

“This mistake could cost you. That on-site person works for and represents the seller. A real estate agent will work on your behalf. A good one will know what questions to ask that can get you a sizable closing cost credit from the seller. Not to mention — a seasoned agent will know how to negotiate the contract for upgrades and finishes that don’t come standard with the home. Perhaps most important is the fact that you don’t pay for the real estate agent’s service. “The builder pays YOUR agent’s commission so it costs you nothing to have someone represent you during the new construction process.”

How To Create Year-Round Home Curb Appeal

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How To Create Year-Round Home Curb Appeal

Exceptional curb appeal will add to the enjoyment and value of your property and home. Maintaining your curb appeal throughout each season may pose its challenges, but with these tips, you can ensure that your home and landscaping will look their very best throughout the year.

#1 Clean It Up

A thorough power wash is essential for maintaining the cleanliness of your home, driveway and walkways. Many homeowners prefer to do this in the spring, but you might consider an additional wash in the fall as well. By keeping your landscape free of debris like broken branches and dead trees, you can better maintain the appearance of your property.

#2 Planting for Seasonal Interest

It’s helpful to plant with each season in mind to ensure that your landscape looks great year-round. Spring bulbs and flowering trees add visual interest to your landscape at the start of the growing season. A lush lawn and pots of colorful annuals can provide eye-catching appeal in the summer. Think about late summer perennials and deciduous trees or shrubs that boast spectacular fall colors. Evergreens are classic winter plants, but you might also wish to plant trees like birch or interesting shrubs to draw the eye.

#3 Vertical Interest

To avoid flat looking landscaping, be sure to include vertical interest. Arches, even when bare during the winter season, will add visual interest to your front yard. Hanging plants, vines, climbing plants, trellises and even a decorative light post will ensure that your yard has a visual balance year-round.

#4 Hardscaping

Plants aren’t the only method of achieving excellent curb appeal. Consider replacing a worn-out front walkway with elegant cobblestone or brick pavers. Replace mulch with stone or encircle trees and shrubs to achieve a more formal look for your property. Boulders can be strategically placed to draw the eye and provide further visual interest for your setting.

#5 Tackle Problem Areas

If you have a slope that’s difficult to mow or a sunken section of landscaping that always seems to flood, consider a solution. A low-maintenance, terraced garden is ideal for sloping sections of land that are difficult to mow. On the other hand, there are no-mow grasses that can replace a traditional lawn. Installing adequate drainage for low-lying areas of your landscape can help reduce the flooding that occurs during stormy seasons.

#6 House Appeal

You can increase the year-round curb appeal of your home by maintaining its outward appearance. A pleasing door, elegant fixtures, contemporary railings, eye-catching shutters and stylized window boxes will go a long way to boost your curb appeal. For an additional wow factor, consider expanding your porch or replacing worn siding to improve the appearance of your home.

Conclusion

Great curb appeal begins with assessing your current setting. When you do install new features, it’s important to consider how they will appear during each season.

Andrea Davis is the editor for HomeAdvisor, which helps homeowners find home improvement professionals in their area at no charge to ensure the best service in the shortest amount of time.