Great Reasons to Consider a New Construction Home in Granbury

Great Reasons to Consider a New Construction Home in GranburyWhen you decide to purchase a Granbury home, you most likely have a few ideas of what you would like to see in a home. You probably know how many bedrooms you would like to have, maybe a picture in your mind of what the kitchen looks like, and probably even an idea of your favorite neighborhood or the attributes you want in your next neighborhood. 

Some Granbury buyers may have ruled out purchasing a new construction home. Here are two reasons why you might not want to rule out the prospect of purchasing a brand-new home, no one has lived in yet. 

It Brings More Buying Options to the Table

When it comes to purchasing a home there are only two options. A resale home listed for sale by the current homeowner or a brand new construction home that is under construction or getting ready to be built. The inventory of homes remains limited in desirable areas like Granbury. But when it comes to new construction numbers, there are more options. 

Data shared from the Census and the National Association of Realtors showed that there are more and more new construction homes coming to the housing market all around the country. Looking at housing numbers from 1983 to 2019 just before the pandemic hit, and the market got turned upside down, new construction homes were only around 13% of available housing inventory. Currently, numbers show that new construction makes up 33% of the housing inventory. 

This might sound like developers are overbuilding, but it is the opposite. Even with the increase in new construction, the housing inventory remains limited as compared to the amount of interested home buyers. But new construction is giving more options. 

New Construction May Be More Affordable 

Some homebuyers are reluctant to consider new construction because it can come at a higher price tag than a resale home. Research shows that the price gap in the value of resale homes and new construction homes is decreasing. 

Builders are broadening their building specs on homes. They are no longer just offering the most impressive large single-family homes. They are aware of what buyers are looking for and need in housing and there are more options out there when it comes to new construction. Buyers are looking for homes that are more affordable. Right now homebuilders are giving more starter home options to offer what a growing number of buyers are looking for in an affordable home. 

In addition to more options beyond the impressive large single-family home, builders are offering incentives in financing a new home purchase. Some builders are offering help like mortgage rate buy-downs making mortgage payments more affordable. 

Don't completely count out those new constructions homes. Shopping for a Granbury home could present some challenges, but with the help of an experienced local Granbury real estate agent, it does not have to be impossible. having an expert in your corner gives you what you need for home-buying success. 

If you are looking for a home in Granbury, I am here to help. Contact me any time with any Granbury real estate needs. 

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Information is deemed reliable, but is not guaranteed accurate by the MLS or NTREIS. The information being provided is for the consumer's personal, non-commercial use, and may not be reproduced, redistributed or used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than The Knieper Team are marked with the NTREIS IDX logo and information about them includes the name of the listing brokerage.

NTREIS data last updated June 14, 2024.

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