Key Takeaways
- The supply of existing and newly built homes is increasing
- Buying a newly built or existing home have their own unique benefits
- We can make your home buying and selling experience successful!
Housing markets are shifting, and that means you may have the opportunity to find a home that fits all your needs! Now might be a good time to get back in the market and jump into your home search. The shift in our economy has led many people who were on edge about selling their house before looking again now. If you’re currently searching for your next home, connect with Linda Craft Team Realtors today.
Here are some expert tips to consider:
If you’re searching for an existing home, we have good news
Are you looking for a home that’s got a little bit of lived-in character? Well, you won’t want to miss this one: According to the National Association of Realtors (NAR), the supply of existing homes, or those that have been previously owned, has increased since the start of this year. As you can see from the graph below, inventory levels are growing, which is fantastic news for you if you’re looking for a home with some lived-in charm!
So, what’s the cause of this trend? The increase in supply is primarily due to more homes coming onto the market and the pace of sales slowing.
Perks that come with buying an existing home
There are several benefits to buying an existing home. Many buyers want to purchase a home with history and authentic character, which cannot be recreated. Existing homes are often part of an established neighborhood with features like attractive landscaping, which can give you additional privacy and boost your curb appeal.
Timing is an important consideration as well. With an existing home, you can move in based on a more stable timeline that you’ve discussed with the sellers, rather than building a new home from scratch and pausing your move-in date until construction is finished.
It’s important to note that while listings are steadily increasing, supply is still low overall. That means you’ll start seeing more options during your home search, but the market will be fast-moving!
To see the best current listings in the Raleigh area, contact Linda Craft Team Realtors and search for homes here.
Surprising benefits of owning a newly built home
The biggest advantage in owning a newly built home is the ability to transform it into whatever you desire. If you have a vision, make it a reality with a brand new home. Homes that are under construction and fully built have grown this year, as the graph below shows.
There are so many options to choose from when building a new home. You can request energy efficient features, customize the design according to your preferences, and have all the appliances you need in one place.
Another attractive feature that comes with a newer home is the lower maintenance involved. When you have a new home, you’re not as likely to be confronted with tedious repairs such as leaky pipes, chipped paint, and other time consuming jobs around the house. Also, with new construction you’ll have warranty options that could potentially cover portions of your investment for the first few years. If you need to move sooner rather than later, however, keep in mind that purchasing a new home could mean waiting longer before you can move.
Bottom Line
With the increase in supply of homes for sale, you have numerous options to fit your lifestyle and preferences. If you have questions and want to learn more, or want to kick-start your home search, let’s connect and start the conversation today.