A Guide to Buying a New-Construction Home
Today, nearly 1 in 3 homes for sale is new construction —and in certain areas, homebuyers can get a lot more bang for their buck because these brand-new builds are cheaper than older homes. And with recent high mortgage and interest rates—before the Fed’s historic rate cut this week— discouraging some homebuyers from getting out there, builders who have properties to sell are offering a range of incentives to entice buyers. Here’s how—and where—to find affordable new-construction listings, pinpoint builder incentives that can help you lower the price, as well as pick up some negotiation tactics to get some sweet freebies thrown in to maximize your home purchase: Explore builder incentives Developers often drive sales by offering special incentives that amount to a discount on the house. Those deals might include the builder offering to pay some of a buyer’s closing costs , offering free upgrades on materials, or even offering a mortg...