The housing market is fully in recovery– the lows of the twenty-tens a distant memory now as economic growth and excellent job numbers give Millenials the courage to enter the housing market. In particular this year, we noticed that even the residential construction market is undergoing a resurgence, with the U.S. Census Bureau reporting that residential building permits hit a 12-year high near the end of 2019, after six consecutive months of growing housing starts numbers. In response to those numbers, Fannie Mae revised its housing forecast to predict a jump in housing starts of 10% across 2020; expecting one million new homes to hit the market by 2021. So should you consider jumping onto the New Home Build bandwagon? We have a few reasons why it just might be the perfect thing for you!
First of all, new home construction is just about the most convenient way to purchase a home. Unless you are a mad D-I-Y-er, most home buyers dread the initial work of transforming a home from Theirs to Ours– painting, minor repairs, cleaning, updating, etc. With new construction, this is all done for you ahead of time, to your specifications! Your house will be truly “move-in ready” on the day you receive your keys! And you can rest assured that appliances, windows, plumbing, and insulation will be efficient and in perfect working order from day one.
New home construction also often brings with it a package of fun perks and amenities, both in your individual house and often also in the larger neighborhood. During the construction and purchase phase, you will have opportunities to customize your home and personalize it to fit your family’s needs with no more work than a quick email or chat with your contractor. New construction takes into account a modern family’s desire for open spaces, efficient kitchens, and multi-purpose spaces; all without knocking down a single wall! Your neighborhood might include extra perks like community pools or tennis courts, property maintenance, parks, and walking trails.
Peace of Mind:
At Karl Miller, we’ve got our finger on the pulse of the New Build housing market in and around Lynchburg.
At the end of the day, one of the biggest attractions of new construction over an existing home is peace of mind. Particularly for first-time homebuyers, young families, or buyers on a budget, a new home warranty can give you the security of knowing that any issues that may arise will be covered. And a home with brand new, modern materials, appliances, and construction methods will have very low maintenance costs, as well as heating and cooling costs. There is also no need to worry about hidden issues like harmful building materials such as lead or asbestos– particularly important for a home with young children.
are a few properties that will demonstrate what we have worked with in the past
few months, and of course, as always, we are ready to go to work for you to
find the Perfect Fit for your lifestyle and needs!