Should I Buy New or Existing?

The sign says it all! “Slow Construction Ahead.” Indeed our residential construction market has been and still is at present, a torturous process.  Supply chain issues, labor shortages, auctions or blind bidding (what?!), and limited or zero supply all contribute to the stress and uncertainty of building new. 

 

You thought or were told that your home would be built in 8-10 months? You thought it was going to cost X dollars? You thought you could have everything you ordered? Nope. Nope. Nope.

 

Sure, everyone wants a new car. Nothing like that new car smell! But I don’t live in my car. Maybe instead, pre-existing inventory is what we should focus on. Due to a period of prolonged low interest rates and a strong seller's market, there are still inventory issues working their way through our markets. However, we believe there may be some changes in the offing as higher interest rates, inflationary pressures, and other factors may be creating a more balanced market. We believe that the real estate market will be entering a period of equilibrium where neither the buyer nor seller will have the advantage. This is a good thing. 

 

Consider the purchase of an existing home as it obviously eliminates the uncertainty and risk of cost overruns and timing. 

 

A qualified and experienced REALTOR  can assist both the buyer and seller as they navigate the uncertain waters that lie ahead. Let us help.