As inventory remains low and listing prices remain high, many homebuyers are struggling to find the home of their dreams. New home construction may be the answer.
According to Zillow New Construction Consumer Housing Trends Report 2019, over 60% of homebuyers consider building a new home, only 9% end up building. From finding the right land, finding the right builder, getting the financing, understanding contracts, and timelines, many homebuyers may think new construction is well out of their reach.
However, by working with the right resources educated in new construction, homebuyers can find the process for building a new home much smoother. Real estate agents certified in new home construction understand the building process and help the homebuyer visualize their options. The realtor should also be experienced working with builders and offer their clients land or land and home options.
Homebuyers need to ensure the builder is a good fit, as they will be working closely with the builders throughout the home building process. Check online reviews and ask for references, find out how often projects go over budget, and will the builder work with your real estate agent.
Financing can also be made easier with a partner who offers Single Close Construction loans. With a Single Close Construction loan, the process is streamlined: A single mortgage loan originator, a single loan, and a single closing process. This saves money, helps reduce the time to move into your house, and protects you against unforeseen circumstances down the road.
Finding a home that meets your needs may be as simple as building your dream home. Look for partners who can help make the new construction experience seamless and enjoyable.
Start with finding the right loan to meet your needs, speak with Home Loan Advisor today.