Buying a New Construction Home in Austin
As the real estate market is picking up, construction on new homes in Austin is beginning to rise accordingly. With economic improvements and increased job opportunities, Austin is seeing an increased interest in home buying, and builders are stepping up to meet the demands. For those in the market for Austin real estate, knowing how to negotiate for these homes is vital, because they are being purchased almost as quickly as they are being built.
Why New Construction Homes in Austin Are So Popular
Homebuyers have several benefits when they shop for newly constructed properties. First, if your new home is still in the construction phase, you have the opportunity to pick many of its features. You can opt for beige carpet instead of gray, laminate floors instead of linoleum, and even choose your paint color before the home is built, while wrapping up the cost of these features into your mortgage. Also, by buying new, you know that the home does not have any unexpected problems, like pet odors or mold, and you may even get a builder's warranty.
Potential Downsides of Purchasing New
While new construction homes in Austin provide several benefits, they also have potential drawbacks. If you are moving into a brand new neighborhood, there's no way to know who your neighbors will be. Pre-owned Austin real estate in established neighborhoods makes this more clear. Also, new homes tend to be more expensive than pre-owned homes, with few, if any, true bargain prices available.
Considerations When Buying New Constuctions
If you decide that the benefits of a newly built home outweigh the potential risks, then take some time to do your homework. Learn who the builder is before you buy. Some Austin area builders have a reputation for poor work, and if you buy one of their properties, you'll struggle to sell when it's time to move on. Another consideration to make would be to decide whether the neighborhood will draw owner-occupants or investors. Renters tend to perform less upkeep on the home than owner-occupants, and you want the houses surrounding your home to be well kept. As you prepare to shop for Austin real estate, remember that new homes in Austin are moving very quickly. It's not uncommon for a property to have an offer long before it's completely built. To put yourself in a solid negotiating position, hire a real estate agent that knows the local market. Also, have your financing ready so you are able to negotiate with solid financing. Be prepared to offer more than you would expect for the property to avoid having someone else grab it from you.
Austin has several communities with homes coming available this spring. If you are looking for an affordable new home, consider shopping in Flacon Pointe. Park West Estates also has properties coming available this spring. Ledge Stone and North Lakeway are also possibilities for those in the market for new construction homes in Atlanta this spring.