New Construction Prices Are Going Up
I had a feeling this might be happening, but just didn't hone in on it until today. Builders are raising their asking prices. But how much were these price increases.. Well let's find out..
Prices are changing anywhere between $1,000 and $60,000. Here are some thoughts to consider.
1. Most of these price increases are due to the cost of pricing lumber, but rising cost of labor could also be a factor.
2. Homes with large price increases might have appraisal issues, but the builder is known to eat the difference, so you shouldn't be worried about this. Yet when buying a resale home, meeting appraisals on financed purchases, might be an issue in today's market.
3. Inventory homes typically have wiggle room in their prices, especially when the price increases took place after the home was constructed. The more expensive the home, the larger the room for negotiating.
4. Instead of asking for a price decrease, one could ask for upgrades, blinds, appliances, or some closing cost assistance.
5. Demand with lack of inventory is another reason for price increases. In resale transactions, we are seeing homes going $10k - $25k over asking price, so a better deal might be found in new construction. New construction typically means low maintenance.
If you are considering the purchase of new construction or looking to relocate, we would love to answer any questions you might have. Check out these awesome links to learn more about what is happening in the local real estate market..
Links to the real estate market analyses: Katy Texas, The Woodlands Texas, Cypress Texas, Conroe Texas, Kingwood Texas, Spring Texas, Klein Texas, Magnolia Texas, and Montgomery Texas. P.S. Email me if you would like an analysis for a particular neighborhood!
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If you are looking to relocate to the Houston Area, we would love to meet you, and hear your story. Below you will find all of my contact information, as well as some homes for sale in the area. We truly look forward to hearing from you! P.S. Don't forget to check out our YouTube Channel!
If you are overwhelmed..
Now if you are feeling overwhelmed on where you should plant your roots, I would love to talk to you. You can schedule a call with me by click this link: http://byjoandco.com/call or just send us an email: [email protected].
There are some amazing communities all over the Houston suburbs. In this post, https://search.byjoandco.com/blog/best-neighborhoods-in-houston/, I deep dive into all the different suburbs/neighborhoods that you might want to consider, and why. There are many resources here, so please reach out if you are curious what to look at next! :)
Links to check out..
➟ Our YouTube Channel :: http://byjoandco.com/youtube
➟ How do property taxes work in Texas? :: http://byjoandco.com/propertytaxesintexas
➟ Things to do in The Woodlands :: http://byjoandco.com/inthewoodlands
➟ Safest Neighborhoods in Houston :: http://byjoandco.com/safesthouston
➟ Best Neighborhoods in Houston :: http://byjoandco.com/bestneighborhoods
➟ Houston Texas Where to Live :: http://byjoandco.com/houstontexaswheretolive
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- Jordan Marie Schilleci, REALTOR® & Owner, Jo & Co. Realty Group
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