Southport Oak Island Realty Group, Inc

Why Newly Built Homes Are A Game Changer- Spring 2024

Planning on Buying a home this spring in Oak Island or Southport North Carolina? You’re probably navigating today’s affordability challenges and dealing with the limited number of homes for sale. But, what if there was a solution that could help with both?

If you’re having a hard time finding a home you love in coastal North Carolina, and mortgage rates are putting pressure on your budget, it may be time to look at newly built homes in Bolivia NC, just ouside of Oak Island North Carolina. Here’s why.

New Home Construction Is an Inventory Bright Spot in Price and Quality!

When looking for a home in Oak Island, you can choose between existing homes (those that are already built and previously owned) and newly constructed ones. While the number of existing homes for sale has increased this year, there are still fewer available than there were in more typical years in the housing market, like back in 2018 or 2019 and the existing homes are only aging, requiring more and more maintenance adding costs to you already strained funds.

So, if you’re looking to expand your pool of options int he Southport NC or Oak Island NC area, turning to newly built homes, which are mainly in Bolivia NC can help. As Danielle Hale, Chief Economist at Realtor.com, explains:

“The shortage of existing homes For Sale has opened up the possibility of new-home construction to more buyers who may not have once considered it.”

And the good news is, there are more newly built homes in Bolivia, just outside of Oak Island, NC to pick from right now.

New construstion starts in Brunswick County North Carolina, or homes where builders just broke ground, have seen a big increase lately. And houses that have recently been completed, homes that builders just finished, are also up significantly. So, if you want a new, move-in ready home in the Southport, NC or Oak Island, NC area; or you want to get in early and customize your build along the way, you have more options right now.

Brunswick County North Carolina Builders Are Offering Incentives To Help with Affordability

And to sweeten the pot, local Oak Island and Bolivia builders are offering things like mortgage rate buy-downs and other MAJOR perks for homebuyers right now. This can help offset today’s affordability challenges while also getting you into your dream home. Mark Fleming, Chief Economist at First American, explains why you may find builders have more wiggle room to offer more for you than the typical homeowner:

“Builders aren’t rate locked-in. They would love to sell you the home because they’re not living in it. It costs money not to sell the home. And many of the public home builders have said in their earnings calls that they are not going to be pulling back on incentives, especially the mortgage rate buydown, so that will help the new-home market continue to perform well in the spring home-buying season.”

An article from HousingWire also says this about what builders are offering right now:

 “. . . the use of sales incentives still shows some momentum as 60% of respondents reported using them, up from 58% in February. “

Just remember, buying from a North Carolina builder is different from buying from a home seller, so it’s important to partner with a local Oak Island real estate agent at Southport Oak Island Realty Group. Builder contracts can be complex, and the onsite agent WORKS FOR THE BUILDER, please REMEMBER that. A trusted North Carolina Realtor or Real Estate Agent will be your advocate throughout the process.

They’ll be your go-to resource for advice on construction quality and builder reputation, reviewing and negotiating contracts to get you the best deal, helping you decide on which customization’s and upgrades are most worthwhile, and a whole lot more. Trust your Real Estate Agent, That is what you pay them for!

If you’re struggling to find a home to buy, or with today’s affordability challenges, let’s connect to see if newly built homes could be the solution you’re looking for.

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Jon Langley

Hi! Nice to 'meet' you and thanks for visiting our Southport and Oak Island Real Estate Blog! My name is Jon Langley, and I'm a REALTOR® in Brunswick County, NC. I work alongside some of the best Realtors in the Southport & Oak Island area. I'd love to learn more about you if you'd like to connect with me on Facebook and Instagram or connect with our team at Southport Oak Island Realty Group. Looking forward to connecting!

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