Even as the world around us changed, one thing in real estate has stayed consistent. We’ve been in a seller’s market for a while now—that is, the demand for homes (the number of buyers) has exceeded the supply (the number of homes available for sale). For sellers, that’s pretty great news. For buyers… it might mean a little more searching to find the right home. Unless, of course, you buy new construction in Portsmouth.
The Perks of New Construction in Portsmouth
A combination of favorable buying conditions, like low interest rates, and sellers staying put for longer (particularly after the COVID-19 outbreak) has led to a decrease in the available inventory of homes for sale. This, in turn, has led to an increase in demand for new construction homes, even in more traditionally resale or historic areas like the Seacoast.
So, should you buy new construction in Portsmouth? Here’s why you might want to consider it.
One of the biggest reasons buyers choose new construction is that there’s no wear and tear, no leftover “personalizations” from the previous owner, no lingering smells or outdated wallpaper; everything is new and modern! You won’t have to worry about needing to change anything—just move on in.
Modern designs & amenities
Older homes are charming, make no mistake, but new homes are designed with the practicality and space efficiency modern living has come to expect. Older homes tend to have smaller windows and more closed, cramped rooms. Newer homes, on the other hand, boast wide windows and spacious, open floorplans designed to maximize natural lighting and promote seamless entertaining.
No maintenance or improvements needed
Because everything is new and designed to modern standards, you won’t need to worry about potential maintenance issues or necessary improvements for likely many years. No need to wonder how old the HVAC system is or when the roof will need to be replaced!
Even homes not specifically designed with “green” features will be more efficient than older homes, thanks to changes in materials used for construction, wiring, plumbing, heating, and more. Many homes, however, are designed with increased efficiency, offering even greater savings on monthly bills.
You choose the final details
If you sign on to work with a builder before the home is built or finished, you’ll likely be able to make some key judgement calls on the final home—or even design from the ground up. This might be something simple, like picking paint colors or finishes, or something a little more important, like adding additional rooms or selecting a floorplan.
Remote buying is easier
The growing health crisis has made social distancing and staying home incredibly important. For many a home buyer, this has made home shopping a little difficult! It’s hard to get a good feel for a home from behind a computer screen. That old-timey charm just doesn’t always translate well! And if you do want to see the home in person, you have to trust that the seller has taken steps to sanitize and clean their home before you come inside.
New homes, however, might be a little easier to get a feel for online. Not only is there less “charm” to get a handle on, but many builders offer the added benefit of detailed and professional virtual tours and/or 3D renderings that can give you a very good feel for what the home is like without setting a foot inside. And if you do decide to take a look in person, you’ll be touring an easily-cleaned model home, rather than someone’s personal residence.
Thinking of Buying New Construction in Portsmouth?
If you’ve been thinking of buying a home in Portsmouth, NH, you’re likely wondering how the recent health crisis has affected your goals. Jim & Ann would love to help clear up any questions and confusion. We’re here to help you meet your goals—while ensuring your continued health and safety. Please, contact us at any time!