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A Newly Built Home May Actually Be More Budget-Friendly
Dated: July 24 2024
Views: 466
If you’re in the market to buy a Sarasota home, there’s some exciting news for you. Many people assume that newly built homes are more expensive than existing ones (houses already lived in), but that’s not always the case. Exploring newly built homes can sometimes lead to more cost-effective options, especially today. Hard to believe. But the data doesn’t lie.
Here are two key reasons why working with your agent to look into new home construction could help you find a more budget-friendly option.
Reason 1: Lower Median Prices for Newly Built Homes
The median sales price for newly built homes is lower than that for existing homes today. This might seem surprising, but it’s true, according to the latest data from the Census and the National Association of Realtors (NAR):
Why is that? Builders are focused on building what they can sell. And right now, there’s a real need for smaller, more affordable homes, which they’ve been bringing to the market. At the same time, there are also more newly built homes already on the market than there have been over the past few years, so builders are motivated to ensure they’re selling what they’ve got available before adding more.
Reason 2: Attractive Incentives from Home Builders
Another big reason to consider a newly built home is the range of incentives many home builders offer. Again, since builders aim to sell their current inventory, some provide special deals to sweeten the pot for homebuyers. HousingWire explains today’s trend:
“Overall, the usage of sales incentives was up to 61% in June, compared to 59% in May.”
One of the most appealing current incentives is how builders can offer competitive mortgage rates. They may also provide other incentives, such as covering closing costs or offering free upgrades.
Why This Matters to You
Considering a newly built home could open up opportunities you hadn’t thought of before. With competitive pricing and attractive incentives, you might find a brand-new home the most appealing option.
Bottom Line
Buying a Sarasota home is a big decision, and it’s essential to consider all your options. Looking into newly built homes might help you find a perfect fit for your needs and your budget.
Let’s explore the possibilities together. Feel free to reach out if you have any questions or want to see what’s available.
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The information and opinions expressed in this article are not intended to be construed as investment advice. Robert Paul, P.A., does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your research and due diligence and obtain professional advice before making investment decisions. Robert Paul, P.A., will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Robert Paul, PA
"I'm here to empower YOU to make confident and impactful decisions." Serving both buyers and sellers, I specialize in assisting those relocating to the Sarasota area or those seeking a second home in ....
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on September 20, 2026 9:30 PM UTC
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