The Benefits of a New Construction Condo

After choosing a neighborhood to focus your search for a new condo, one of the other key decisions that you will face is whether to purchase a resale or new construction condo.Many buyers are attracted to new construction condos and there are a wide variety of reasons why. On a subliminal basis, we have been trained by Madison Avenue to yearn for the biggest, fastest, latest and newest products. It is pretty easy to go out and buy a new iPod, while it is not so easy to upgrade your condo decision.
With new construction condos, you can elect to have the unit finished exactly how you want it, purple glass tile in the shower....not a problem! We all want to feel a connection to our surroundings and customizing the finishes in your condo are a great way to achieve this connection.
New construction means that all your neighbors are going to be new as well. As you are all in the same boat, it should definitely be easier to meet friends and not have to break into established social circles. You will also have a clean slate with regards to your condo association. A new development will not have major systems facing obsolescence that require expensive assessments. Also your individual unit will come with a warranty, giving you peace of mind regarding unbudgeted repair expenses.

New Construction Sales - Are You Sure?

For those of you who considering going into new home construction sales, I wanted to pass on some things you may want to think about before making that move. I enjoy what I do, but the learning curve has been tough and I've worked hard for every penny earned. New construction sales can seem very rewarding, and it has been for me, but it can also be a whole lot of very hard work for lower pay than anticipated.

A word to the wise: find out EXACTLY what will be expected of you as a new home sales agent before you decide to make that level of commitment. For instance, how much will you have to be involved in the building process after you make a sale? If it's a presale, the building process will take anywhere from 4 months on up, depending on the weather, size and details going into the home and other variables. My builder expects the agents to be involved in each phase of the sale and construction of the homes. That means with each and every concern that comes up while the house is being built, I am the go-to person for the buyer, and the liaison between the buyer and the superintendent. That is a lot of responsibility, not to mention headaches. Months of headaches!

New Construction Home or Resale Home?

Homebuyers are out looking again; despite the news reports we have been hearing...there are buyers! I have received many calls from clients who are contemplating new construction or a resale home. In my St George Utah real estate market, buyers have an advantage with plenty to choose from, no matter what you want to buy. Builders have record number of homes available and the St George MLS reflects an unusually high number of listings. The high inventory coupled with lowering interest rates is making for a great buyer opportunity.

New construction is always appealing. To own a home that no one else has lived in, a blank canvas to create a home that can be yours (and the fact that everything is new) is desirable to most buyers. However, something to consider is that blank canvas can ultimately become an expensive masterpiece. With new construction, you must consider the costs of landscape (sod, trees etc...), window coverings, patios or patio covers, concrete work, and possibly block walls or fences. This is not to say that you should avoid new construction, it is only expenses that are occasionally overlooked. Selecting a home with a reputable builder who is familiar with environmental issues within the region is imperative. With all of the lending issues currently present, homeowners that are having problems also includes home BUILDERS facing financial concerns.

New Construction Projects - Finding New Construction Contracts to Bid

New Construction Projects Lead Services

When it comes to building your pipeline, utilization of a lead service may be the most cost-effective tool to finding new construction projects out to bid in your area. When evaluating a service, it is important to ensure the project information is accurate, timely, and through as well as the company's editorial staff being accessible to you for your specific needs.

Accurate

You must be able ensure the new construction projects lead service verifies their information before they send it to you. When speaking to a service, ask them how they verify their information because the best lead saves you time and money because it is complete and accurate information.

Timely

Make sure your lead service keeps you on top and on time. Ask them how long they've been in business (the longer the better, typically you want one over 30 years) and how frequently they publish their information. This will ensure that their network of developers, architects, owners, engineers, and contractors are in regular contact with the company.

What US Cities Are Doing to Promote New Construction

With real estate vacancies on the rise and new construction having taken a sharp downturn, many cities across the nation are coming up with some clever and creative methods to entice new building construction into their respective areas.

Although home sale numbers may be resurrecting in some cities, this is not the case for most. Not only are home sales down, but new home construction has hit rock bottom in many major cities.

Commercial vacancies are also steadily climbing, which have caused the lending industry to raise the bar in obtaining new construction loans. Builders are now struggling more than ever with a variety of costs, and are much more hesitant in a down economy to begin new projects.

Insightful U.S. cities are noticing the significantly diminished number of new building permits, and are responding. In order to kick start the slumping industry, many cities are cutting various impact fees typically charged to builders. Generally, impact fees are one-time fees charged on new construction to pay for infrastructure for the new development, like roads, sewer systems, curbing, lighting, schools, parks and other community needs.

The hope is that the savings will entice developers to complete or build-out existing construction and encourage new residential and commercial development.