Tag Archives | #newconstruction

    Sellers: How Does Your Home Stack Up To New Construction?

    Sellers: How Does Your Home Stack Up To New Construction?

    When homebuyers begin their research, they want to see all their available options! In many cases, they will include both new construction and existing homes in their search; but is a new construction home really the house of their dreams?

    According to a recent survey by Zillow, of the 38% of total buyers that added new construction to their list, only 11% ultimately purchased a newly constructed home!

    71% of these buyers are repeat buyers who are financially secure, with 45% using the money from the sale of their previous homes to make a purchase.

    Below are some reasons why buyers are interested in purchasing a new build:

    • Everything in the house is new/never used (49%)
    • To be close to family (41%)
    • The home is the best value for their money (37%)
    • Appealing home features (34%)
    • Desirable location (34%)

    So, then why did most of the buyers surveyed choose not to purchase a new home?

    1) Location

    Buyers could not find new construction in the desired neighborhood, and some felt that new construction is not established (e.g., landscaping, community, neighbors).

    2) Timing

    Buyers face the end of a lease or sale of their previous property and could not wait for a house to be built.

    3) Price

    Some buyers felt that new construction base prices were deceiving. Adding upgrades and HOA fees no longer made the home fit in their price range.

    4) Appeal

    For some buyers, new construction homes are too “cookie cutter,” and models are limited. Others feel that the charm and uniqueness of an existing house trumps one that’s never been lived in.

    Bottom Line

    Both new construction and existing homes have appeal. As a seller what is your main competition?  Let’s get together to come up with a plan to understand the market around your home, identify the competition and highlight the most appealing and charming details of your house to future buyers.

    Source: Michigan Real Estate Updates

     

    Golf Course Frontage Lot – now available

    Beautiful site for your new home. This lot offers excellent mix of mature hardwoods, and pines, with a gentle slope toward the access road – the ideal building site. The north end of the property borders golf course frontage on Brookside golf course. Excellent location allows for peace and quiet yet only minutes from several lakes, shopping, dining, and entertainment.