Reason To Purchase New Construction in 2023

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If your new year's resolution is to own a new construction home this 2023, here are reasons why you should. 


1. It is what’s best for you and your family.
 

So many people are so focused on the rising interest rate that they do not look at the overall financial picture before making a decision.

I had a buyer reach out to me and told me they were afraid of the interest rate but they couldn’t take the toxic environment of living with their family member. They’re main goal is to get out of that situation and own their home so that they can do whatever they want. I referred them to a lender who advised them to work on their credit score, pay off some debt and if they’re comfortable with the monthly payment, to go for it. And they went for it. They could not be happier. When the interest rate went down, they refinanced and got their monthly payment lowered.

So, do what’s best for you and your family. Don’t take your agent’s word for it, reach out to your financial advisor or your accountant and review the numbers. Numbers don’t lie.  

 

2. With higher interest rate, there may be less competition.

 

You’ve heard it. Interest rates have been on the rise. With higher interest rate, buyers can afford less. With that, some buyers are opting to sit this one out since they are getting priced out of their dream home. It truly is unfortunate but it gives you a certain advantage. 

With the market change, home buyers are no longer having to deal with a wait list. You can go in. Find the right floor plan on the right lot and if you've already been pre-approved, you can sign the contract right there and then.


3. Builders are offering more financial incentives when working with their in-house lender.

 

With higher interest rates, the builders realized that there are less buyers looking for homes. Builders are offering more financial incentives to entice home buyers to go with new construction and to close sales which means money for your closing costs or even better, use that incentive to buy down your points to lower your interest rate. That’s why it’s very important to work with knowledgeable Realtor who knows what they’re doing and who can advise you about these perks.

 

4. Builders are extending more free money for home gallery.

 

Builders are once again offering credits toward upgrades. I’ve seen up to 10k of financial incentives toward home gallery. Wow! This gives you an opportunity to further customize your new home with upgrades that you can be happy about.

 

5. Free solar!!!

 

In some cases, some builders are offering free solar when you purchase new construction within a certain time period. It is a great opportunity to save even more. Take advantage of it.

 

From free solar to higher financial incentives towards closing cost and home gallery to finally living your best life, these are a few reasons to purchase construction in 2023.

 

Tip: Make sure you work with a Realtor who knows what they’re doing. Most likely, it won’t even cost you anything to work with your own agent so you might as well have someone there who has your best interest. At the end of the day, the sales agent work for the builder and your agent work for you.


Note: Angela Carpio is a Realtor serving Riverside, San Diego and Orange County.


Angela Carpio, Realtor

619-228-5034

Coldwell Banker ABR

Lic. #01967762

AngelaCarpioRealtor@gmail.com

http://www.angelacarpiorealtor.com/

#angelacarpiorealtor

 


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