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General Interest

New Construction — How to Avoid the Frustrations of the 2021 Housing Market

With less than two months’ supply of available resale homes on the market, many home buyers are looking at new construction as an alternative to pre-owned homes.

The benefits of new home construction can far outweigh buying a resale home, especially in the overheated 2021 resale home market. Here are just a few reasons why:

● Inventory is very limited among resale options. That means that your choices are just as limited.
● Sellers are capitalizing on that limited inventory by forcing interested buyers to try to outbid each other. The original selling price you or your real estate agent find may be far from the final number when all is said and done.
● Older homes often require costly renovations to ultimately create the home with the features, finishes and technology that you want, whereas newly-constructed homes already have these elements, not to mention your choice of design styles and a new home warranty.

The downsides of buying an older home, in particular because of needed renovations and upgrades, fall into the category of “soft costs.” The larger considerations like new appliances, flooring, roofing or heating and air conditioning upgrades are obvious, but what about gutter replacements, interior and exterior painting or electrical and plumbing updates that you may not discover until after you’ve moved in? It can add up.

There is also the consideration of the community itself. An older home may be located in a neighborhood with no recreation amenities, whereas a new home in an Epcon community may offer lifestyle-enriching benefits—like a clubhouse with a pool and a fitness center, and an HOA that takes care of lawn maintenance, for more free time to enjoy those amenities.

Financing Your New Home

Once you find a new home, are you prepared to act quickly to secure it? Being able to quickly get prequalified through a builder’s preferred mortgage lender is another benefit of buying new instead of pre-owned.

To best serve our customers, each Epcon Franchise Builder works with local lenders, providing the most honest, viable and competitive financial solutions available. With their assistance, our home buyers are equipped to choose financing options that best suit their needs, such as FHA/VA, HECM or conventional loans.

Overall, in the 2021 housing market, it may be worth taking a different approach to your next home purchase. Avoid the uncertainties and unknown costs of buying a resale property, and purchase a new home. You’ll have exactly the home you want, at the price you expect, from the moment you first open the front door.

Contact us today to find the Epcon home and community that will truly bring you a new lifestyle.

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