According to a survey that Zillow recently conducted, of the 38% of total buyers that added new construction to their wish list, only 11% ultimately purchased a newly constructed home. So, what makes a buyer want to purchase a new construction home?
In the survey by Zillow, 49% reported liking the idea that everything in the house would be new and never used. There’s something special about getting to work with a builder to create your dream home. From the paint to the backsplash in the kitchen, the tile in the bathroom and the perfect soaking tub, everything in the house will be fresh and untouched.
Others wanted to purchase a new build because they wanted to be close to family and live in a certain location. Over 30 percent of those surveyed went with the new construction because they believed it was the best value for their investment and they liked the features of the home.
But even with the thought of being able to move into something brand new, most of the buyers who were surveyed still went with the resale option. Here’s why.
Buyers could not find new construction in the neighborhood that they desired. Some felt that new construction neighborhoods were not established. (e.g., landscaping, community, neighbors).
It takes several months for a new home to be built and many were facing the end of a lease and needed to make a move fairly quickly.
For some buyers, new construction homes are too “cookie cutter,” and models are limited. Others feel that the charm and uniqueness of an existing house trumps one that’s never been lived in.
So, remember, even with all the new neighborhoods popping up throughout North Texas, not all buyers are looking for a newly built home. Many buyers are still turning to the charm and uniqueness of an existing home.