This global pandemic is a crazy time for all of us. The stay at home orders suffering businesses and above all the uncertainty have disrupted our lives. We have seen a major cooling of the real estate market in general and the new construction market specifically. While not right for everyone, this may make TODAY THE BEST TIME TO BUY A NEW CONSTRUCTION HOME.
About 96% of builders said stay-at-home orders, social distancing, and other mitigation procedures have been reducing buyer traffic to newly constructed homes, according to a recent National Association of Home Builders poll. That's bad news for builders, many of whom already have homes and developments in the works. And it may make them more likely to negotiate deals. Here are a few of the benefits you can expect to find with builders today.
Builders are offering free upgrades up to a certain dollar value. This allows buyers to upgrade standard features like appliances, fixtures, energy features, and more. Free upgrades allow buyers to get what they wanted but didn’t think they could afford.
Covering Closing Costs
Many buyers are surprised at how much money they must bring to the table at closing. Some builders are offering to cover the closing costs as an incentive to work with them.
While free upgrades and zero closing costs are exciting, a solid warranty on your new home is the gift that keeps on giving. Right now some builders are offering extended warranties covering major aspects of your new home. These warranties will keep buyers living worry free for years to come.
Deals on Existing Homes
If you are ok buying a new construction house that is already built you can get thousands of dollars off the pre-pandemic price.
For example, Eternity homes in the Minneapolis area is now scheduling exclusive private tours of their model homes. If you would like to buy they are offering a free basement finish to turn that "extra" space in to a beautiful living space for your family.
If you're interested in learning more about what Eternity Homes is offering or to learn more about the specials available in the Minneapolis area get in touch with.