Southport Oak Island Realty Group, Inc

Southport North Carolina Realtors Explain The Top 2 Reasons To Consider a Newly Built Home

When you’re planning a move in the Southport and Oak Island North Carolina area, it’s normal to wonder where you’ll end up and what your future home and lifestyle is going to look like. Maybe you’ve got a specific picture of that house and lifestyle in your mind. But unless you came into this process knowing you want to buy a newly built home, you may not have pictured new home construction in the Southport, Bolivia or Oak Island North Carolina area.

A trusted real estate agent at Southport Oak Island Realty Group can help walk you through these two reasons you may want to reconsider that when moving into Brunswick County North Carolina.

1. Adding Newly Built Homes Could Give You More Options in Oak Island NC

There are two types of homes on the market in Southport, NC; Oak Island, NC and Bolivia, NC: new and existing. A newly built home refers to a house that was just built or is under construction in Brunswick County, NC. An existing home is one a previous homeowner has already lived in. Right now, the inventory of existing homes for sale in Southport and Oak Island North Carolina is tight. But there may be options for you on the new home side of things!

Data from the Census and the National Association of Realtors (NAR) shows that newly built homes are a bigger part of today’s housing inventory than the norm, this is even more so true in the Southport, Oak Island and Bolivia, NC area.

From 1983 to 2019 (the last normal year in the real estate market), newly built homes made up only 13% of the total inventory of homes for sale in North Carolina. But today that number has climbed to over 33% in Brunswick County North Carolina.

Rest assured, after over a decade of under building in Brunswick County, NC, builders aren’t overdoing it today, even though it definitely looks like it if you drive down Highway 211 in Bolivia, NC or even driving down Highway 17 past Shallotte, NC. Even with an increase in new construction today locally, there’s still a significant housing shortage overall. But for you as a home buyer, the uptick in new builds can be a game changer because it gives you more options for your North Carolina beach house search.

2. Newly Built Homes May Be More Affordable Than You’d Think in Coastal North Carolina

You may still be wondering if a new build could really be an option for you when buying a North Carolina beach home. If you’ve previously written them off because you thought they would be out of your budget, consider this. The price gap between a newly built home and an existing house is shrinking. Here’s why.

Builders are going to build what’s in demand. And they know people need more options right now, especially ones that are smaller and definitely more affordable. They’re focusing on building smaller homes at lower price points in Brunswick County North Carolina. The graph below shows the price difference between new and existing homes is shrinking as that happens.

As LendingTree explains:

In the past, newly built homes have been much more expensive than existing homes — but that gap has been getting smaller recently. In some places today, you may find that the cost to build versus buy is roughly the same.”

And an article from CNBC says:

“While new builds are still sold for slightly more than existing homes, the price gap has significantly narrowed . . .”

Not to mention, some North Carolina builders are even offering price cuts and mortgage rate buy-downs right now to sweeten the deal in Brunswick County, NC. Today there are many reasons new builds may be worth considering. Other buyers sure seem to think so. As Freddie Mac says:

“As the supply of existing homes for sale remains low and home prices continue to rise, more buyers are choosing to purchase new homes than in previous years.”

Just know that buying a newly built home isn’t the same as buying an existing one in Southport, Bolivia or Oak Island North Carolina. Builder contracts have different fine print. So, partner with a local agent at Southport Oak Island Realty Group who knows the market, Brunswick County, NC builder reputations, and what to look for in those litigious contracts so you have an expert on your side to help you explore this option.

If you want to find out what builders are doing in our area of North Carolina, let’s connect and check it out together. And if you’re willing to cast a wider net to open up your options even more, we can talk about broadening your search to include other towns nearby.

Southport Oak Island Realty Group has long been known as having the “Best Buyer’s Agents” in the area.

We DO NOT work for new construction companies and DO NOT do anything that is not the RIGHT THING for our clients!

We WORK for YOU and DO NOT do anything that is not the RIGHT THING for our clients!

While some may think this is standard business practice in the North Carolina Real Estate Industry, unfortunately it is not…

As a standard practice at Southport Oak Island Realty Group, our focus is SOLELY on YOU, THE CONSUMER! We hold the value of friendship and doing the right thing above profits, unlike many of our colleagues. While we do not like to talk about it, the National “Big Brands” have changed the the industry for the worse, putting Real Estate Agents in an unfortunate position of fighting for clientele and the end result is chasing or steering consumers towards the homes for sale or deals with the most return for them as Real Estate Agents, not YOU the buyer. If you have time please read through our About Us page. It explains our values as North Carolina Buyer’s Agents and our overall core values.

If you are ready to dive into the buying process and looking at houses please reach out to one of our Southport North Carolina or Southport North Carolina Top Buyer’s Agents today!

Contact your North Carolina New Construction Buyer’s Agent Today!

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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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