It’s common knowledge that the real estate market is on an upswing. Though more people are looking for new homes, inventory is low in many places. No one knows when the situation may improve, but homebuilders are buying land, creating plans and beginning construction. Below are five things buyers should consider when deciding whether to buy new homes construction in Amherst MA.
New Homes Aren’t Always Listed With the Local MLS
Unlike regular sellers who list homes with local agents, homebuilders often have an in-house team to handle those duties. What does that mean for buyers? Mainly, it means that the builder doesn’t belong to the MLS, and homes may not appear in searches. If one is interested in a new construction home, they should Contact Construct Associates Inc. and work with their agent to research all options.
New Homes are Sometimes Sold Before They’re Finished
Builders typically get financing and plan the sales and construction processes, which means that they sell homes before they’re built. To accomplish the goal, they’ll build model homes which allow prospective buyers to review finishes, floor plans, and fixtures before construction begins. Depending on the area, builders may have to partially complete the approval process before the contract can be signed.
Early Buyers Get Better Discounts
Homebuilders want to quickly get homes under contract. If a builder can claim to have a dozen homes under contract within weeks, the development may appear more desirable to buyers. Builders like to give lenders good news about their investment, and to do that, they need eager buyers. Motivated sellers may give early buyers more negotiating power, but there are risks to consider. If, for any reason, sales don’t meet projections or the owner doesn’t want to go any further, they risk losing the down payment.
For most first time home buyers, New Homes Construction in Amherst MA may be a great option. If one is used to renting and counting on a landlord’s help with maintenance and upkeep, they can rest assured that the first several years in a new home will be almost maintenance free. By considering the factors above, homebuyers can make an informed decision.