According to the latest reports from the Consensus Government website, sales of new single-family houses in August 2023 were at an adjusted annual rate of 675,000. In May, the sales soared to over 12.2% month-over-month, a record high since February 2022.
People are jumping to get into newly built homes. In July 2023, statistics revealed the construction rates adjusted to 1.43 million new homes built year-to-year. That highlighted a drop in construction rates of 8.1%. With the population growing but construction slowing – coupled with the drop in house prices in the US and globally – is it better to move into a newly built home? Let’s explore.
Ready To Move In
One of the selling points of newly built homes is they’re supposedly ready to move into. There’s the option to see a house from the construction process to finish, having the option to tailor the home to your liking, from the floors to the doorknobs, or you can find a home that’s just finished its construction and make it your own. Either way, most people think they’re more ready to move in – compared to an old home.
All you have to do is contact one of the top moving companies for a quote and pick a day to move in. There’s no chain to the sale – you don’t have the risk of having your move-in day delayed waiting for someone to move out.
Potentially A More Efficient Home
Most newly built homes are constructed with home efficiency in mind, thanks to pressure by officials to design homes that are better for the environment. Newly built homes often have double-glazed windows, energy and gas-efficient boilers installed, and, if you opt for it, the most efficient cooling systems.
The Inevitable Drawbacks
Of course, newly built homes have their drawbacks – the main one is a lack of construction quality. Going back to the statistics mentioned earlier, 1.43 million new homes are erected each year in the US. The goal is speed and money, sometimes at the expense of quality. One study revealed that 36% of once proud owners of newly built homes turn to regret due to interpersonal conflict, delays, and build quality.
The delays transpire. There are only around 1.08 million existing homes on the market and a shortage of 5.24 million houses – thus, there’s a need for speed.
Are They As Easy To Move Into?
So, what’s the verdict? Are they easy to move into?
Chain delays plague old homes, but so do build delays. Perhaps you won’t have to renovate, but you might have to make changes due to poor build quality. You are more likely to have an energy-efficient home.
Yes, they’re easier to move into if you consider that they’re ready to go – but you also need to factor in the possible delays and issues along the way.
What do we know? It’s not the easiest to move home, whether newly built or not. It is, however, rewarding to buy a home, regardless of how new it is.