Don't Fall for These 4 Myths About Buying a New Home

by Ken And Susan Rosengren

Don't Fall for These 4 Myths About Buying a New Home

Have you been avoiding new construction homes in your house hunt? Many people do, and it's often because they've heard some common myths that just aren't true. Let's bust these myths and help you see the great opportunities you could be missing out on.

Myth 1: New Homes Are Always More Expensive

You might think a brand-new house will automatically cost more than a pre-owned one, but that's not necessarily true right now. In fact, recent data shows the median price of a newly built home can be lower than an existing home. Why is this happening? Builders are often using strategies like creating slightly smaller homes and offering price cuts to help sell their inventory. If you've ruled out new builds based on cost alone, it's time to take another look.

Myth 2: Builders Won't Negotiate

Some buyers assume builders are firm on their prices, but that's far from the truth. Many builders are eager to sell their finished homes quickly, which makes them much more open to negotiation. They may even offer significant incentives, such as paying for a mortgage rate buydown. That means you could get a better deal and more perks with a new home than you might with a traditional seller.

Myth 3: New Homes Lack Quality

It's a common belief that older homes have better craftsmanship, but the reality is that the quality of a home depends more on the builder than the age of the house. A reputable builder will stand by their work and should be able to provide you with references from satisfied customers. Asking past buyers about their experience is a great way to gauge a builder's reputation and ensure you’re getting a high-quality home.

Myth 4: You Don't Need Your Own Agent

This is one of the biggest and most costly myths out there. While a builder has a representative to look out for their interests, you need an expert on your side. Builder contracts can be complicated, and having your own real estate agent ensures you understand every detail and have an advocate fighting for your best interests. A survey by Realtor.com found that buyers of new homes rated their own agents as far more helpful than the builder's representative. Having an experienced agent is essential for a smooth and successful new home purchase.

Ready to Explore Your Options?

Don't let these myths keep you from considering a brand-new home. The market is full of great opportunities, and you might be surprised at what's available and how it fits your budget.

Ready to take a closer look at what's being built in your area? Let's connect and find out if a new home is the right choice for you.