5 Tips When Buying a Newly Constructed Home

The lack of existing inventory for sale has forced many homebuyers to begin looking at new construction. When you buy a newly constructed home instead of an existing home, there are many extra steps that must take place. To ensure a hassle-free process, here are 5 tips to keep in mind if you are considering new construction: 1. Hire an Inspector Despite the fact that builders must comply with town and city regulations, a home inspector will have your best interests in mind! When buying new construction, you will have between 1-3 inspections, depending on your preference (the foundation inspection, the pre-drywall inspection, and a final … [Read more...]

New Home Sales Up 12.7% From Last Year

According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month with double-digit year-over-year growth (12.8% in July). The report also showed that builders have ramped up construction with an increase in new construction starts and completions. The summer months are often a busy time for builders as they capitalize on the warmer weather to be able to finish projects. Below is a table showing the change in starts, completions, and sales from last August. Other notable news from the report is that the … [Read more...]