How does current supply impact your own move?

If you’re thinking about selling your house, you may have heard the supply of homes for sale is still low, and that means your house should stand out to buyers who are craving more options. But you may also be wondering, once you sell, how does the current supply impact your own move? And, will you be able to find a home you want to buy with inventory low?

One thing that can help you find your next home is exploring all your options, including both homes that have been lived in before as well as newly built ones. Let’s look at the benefits of each one.

The Pros of Newly Built Homes

First, let’s look at the advantages of purchasing a newly constructed home. With a brand-new home, you’ll be able to:

1. Create your perfect home.If you build a home from the ground up, you’ll have the option to select the custom features you want, including appliances, finishes, landscaping, layout, and more.
2. Cash-in on energy efficiency.When building a home, you can choose energy-efficient options to help lower your utility costs and reduce your carbon footprint.
3. Minimize the need for repairs.Many builders offer a warranty, so you’ll have peace of mind on unlikely repairs. Plus, you won’t have as many little projects to tackle.
4. Have brand new everything.Another perk of a new home is that nothing in the house is used. It’s all brand new and uniquely yours from day one.

The Pros of Existing Homes

Now, let’s compare that to the perks that come with buying an existing home. With a pre-existing home, you can:

1. Explore a wider variety of home styles and floorplans.With decades of homes to choose from, you’ll have a broader range of floorplans and designs available.
2. Join an established neighborhood.Existing homes give you the option to get to know the neighborhood, community, or traffic patterns before you commit.
3. Enjoy mature trees and landscaping.Established neighborhoods also have more developed landscaping and trees, which can give you additional privacy and curb appeal.
4. Appreciate that lived-in charm.The character of older homes is hard to reproduce. If you value timeless craftsmanship or design elements, you may prefer an existing home.

The choice is yours. When you start your search for the perfect home, remember that you can go either route – you just need to decide which features and benefits are most important to you. As an article from The Mortgage Reports says:

“When building, some builders let you have freedom to tailor the design, materials, and features, but it demands more time and involvement. Building is challenging for many buyers.  Conversely, buying an established home offers immediate occupancy . . . yet may require compromises. Your choice should align with your budget, timeline, customization preferences, and the local real estate landscape.”

Either way, working with a local real estate agent throughout the process is mission-critical to your success. They’ll help you explore all of your options based on what matters most to you in your next home. Together, you can find the home that’s right for you.

Source: Keeping Current Matters