Buy New and Avoid Bidding Wars
If you have been looking for long, you know just how difficult it is to buy a home right now in the Dallas-Fort Worth area. Interest rates are still low, but the competition is higher than ever with homes selling for thousands of dollars over asking price as soon as they hit the market.
Homebuilders like Sandlin Homes are feeling the pressure too, but they can offer one big advantage allowing stressed out shoppers the option to buy new and avoid bidding wars. What does that mean? Let’s dive a little deeper into the new home construction process below.
Why are bidding wars so common?
The easy answer is that a low supply is creating astronomical demand. In fact, Redfin found that 64 percent of home purchases in March faced competition. That was the 11th consecutive month with a bidding war rate above 50 percent. Redfin also said that 46 percent of homes are selling within one week on the market which is up 30 percent from a year ago.
In new home construction, you can avoid bidding wars because you are working directly with the builder rather than a seller. This allows builders like Sandlin Homes to set one price for each new home without negotiations or “best and final” offers. Homebuyers also have the comfort of knowing that there will be no immediate investment needed beyond the purchase. A new home is built to the latest standards for construction and energy efficiency. New homes are also covered by Sandlin Homes’ one, two and 10-year warranties.
What is new construction?
Sandlin Homes traditionally offers three distinct paths to homeownership that each have benefits for DFW families. The first is to choose a quick move-in home that is complete, or nearly complete in one of Sandlin’s new home communities throughout the metro. This option is the most similar to buying an existing home because most of the design selections are already complete and homebuyers are able to tour each property in-person while considering the purchase. This also puts buyers on the quickest move-in timeline since homes already have a scheduled completion date.
The second path is new construction. This involves choosing a neighborhood and a floor plan and starting from scratch. This is a popular option for families that want more personalization or have specific requirements like a first-floor owner’s suite or dedicated office space. Buyers that choose new construction will work closely with the Sandlin Homes design team to perfect their chosen floor plan and make custom design selections along the way.
The third is to Build on Your Lot where Sandlin Homes comes to you with a proven floor plan and builds a home on land that you purchase or already own. This is the most involved of the options, but can be a good solution for buyers that need to live in a location outside one of the active communities.
Buying with Sandlin Homes
If you are tired of losing the battle of bidding wars, it is time to consider new construction. Sandlin Homes has specialized in family building since 1957 and would be honored to help find or build your dream home. Fill out an online form or call our office at (817) 281-3509 to start your home buying journey.