New Home Sales in Corpus Christi, The Pros and Cons
Updated: Feb 9, 2019
It may not surprise you that over 60% of recent sales in Corpus have gone to new homes. These beautiful new home communities are popping up everywhere and fulfilling the heavy demand of home buyers. As your realtor here, I obviously have my favorites. What kind of agent would I be if I didn't have an understanding of local home builders and their communities? (That was rhetorical). I digress. Here I would like to share with you the pros and cons of building, buying and owning a brand new home.
Let's start with the pros...
For a lot of home buyers, walking into a previously owned home leaves them feeling unable to see themselves living in it. This can be because of the style, finishes, furniture, paint choices, etc. Typically, when you chose to build you get to customize most/some of your finishes. This immediately makes you feel comfortable as they are details you enjoy and love.
Another great perk of building or buying an existing new home, or as we in the biz like to call, a spec home, you will automatically have a 1 year warranty that covers everything in your home from your builder, including your appliances. (If your realtor has negotiated those for you). Most will also include a 1 year walk-through to correct any settling nail pops in the walls, address any issues and do an inspection. Pretty handy huh? On top of this, there is typically a 10 year structural warranty. So no frets about cracking foundations or rotting structural beams, etc... And of course with everything in real estate, it is all negotiable.
The turn-key aspect of owning a new home is hard to beat. Some buyers are not fans of having to put work into a home before they can move in and/or make it functional. Buying a brand new home eliminates any stress of painting, remodeling or tolerating outdated finishes until they are able to make the repairs.
One more pro before we move on to the negatives...
Since new homes are less negotiable when it comes to price, as all their homes should be appraising similarly, most builders offer wonderful and valuable incentives to buyers instead. As your realtor I will negotiate hard to insure you receive as many of these as possible. Examples of builder incentives are; appliances, blinds, builder paid closing costs, HOA credit, fencing, landscaping, ceiling fans, and many more upgrades throughout the home. Win win for builder and buyers!
Now, on to the cons...
If you are not a fan of suburbs or planned communities, a new home in Corpus may not be the best fit. Obviously you can find a piece of land and build a custom home on it, but that is not what we are discussing here. Most builders will have a 10 or less floor-plans and will continue to build them until the land is gone. So if uniqueness is important to you, resale may be the best answer.
Another item that may be important to you is having a bigger lot or land. If you require privacy, RV parking, or a yard to accommodate your 5 dogs, the associations and lot sizes of new planned communities would be a hard fit.
Lastly, I want to mention negotiation and price. As I said before, there is very little room to negotiate price point when it comes to a new home. However, if you are wanting the chance of a deal or need one for financing, resale is a great option. All homeowners have their own individual stories that factor into negotiations. For instance; some have timelines they need to meet when it comes to moving or relocating so they are forced to be flexible on price. It would be easier for someone who owns their home 100% to negotiate as they do not owe the bank a required amount that will eat into their profits. These are just a few of the many scenarios sellers could be in that may impact the negotiations in a buyers favor that only exist with resales.
No matter what type of home is best for you, as your realtor I am always here to help and guide you through the process!
Your Friend and Realtor,