Wednesday, August 13, 2025 / by Joyce Dungca
If you’ve been skipping over newly built homes in your search, you might be doing so based on outdated assumptions. Let’s clear up a few of the most common myths, so you don’t miss out on a solid opportunity.
Myth 1: New Homes Are More Expensive
It’s easy to assume a new build will cost more than an existing home, but that’s not necessarily true, especially right now.
Data from Census and the National Association of Realtors (NAR) shows the median price of a newly built home today is actually lower than a home that’s been lived in already (an existing home):
So, why’s this happening? As Heather Long, Chief Economist at Navy Federal Credit Union, explains:
“This largely reflects two trends: New homes are getting smaller on average, and builders are doing more price cuts.”
If you’ve ruled out new construction based on price alone, it’s time to take another look. Talk to your local re ...
Read More
team raj jaggi, buyers, sellers, housing market, real estate agents, newly built homes, homebuilders, new homes
Monday, June 2, 2025 / by Joyce Dungca
Do you think a brand-new home means a bigger price tag? Think again.
Right now, something unique is happening in the housing market. According to the Census and the National Association of Realtors (NAR), the median price of newly built homes is actually lower than the median price for existing homes (ones that have already been lived in):
You read that right. That brand new, never-been-lived-in house may cost less than the one built 20 years ago in a neighborhood just down the street. So, if you wrote off a new build because you assumed they’d be financially out of reach, here’s what you should know. You could be missing out on some of the best options in today’s housing market.
Why Are Newly Built Homes Less Expensive Right Now?
1. Builders Are Building Smaller Homes
Builders know that buyers are struggling with affordability today. So, instead of building big houses that may not sell, they’re building smaller ones that will. ...
Read More
team raj jaggi, buyers, sellers, housing market, real estate agents, newly built homes
Thursday, February 6, 2025 / by Joyce Dungca
There’s no denying affordability is tough right now. But that doesn’t mean you have to put your plans to buy a home on the back burner.
If you’re willing to roll up your sleeves (or hire someone who will), buying a house that needs some work could open the door to homeownership. Here’s everything you need to know so you can decide if this is the right move for you.
What’s a Fixer-Upper?
A fixer-upper is a home that’s livable but requires some renovations. Think cosmetic updates like wallpaper removal and new flooring or more extensive repairs like replacing a roof or updating plumbing.
While fixer-uppers need a little TLC, here’s why they may be worth considering, especially right now:
They Usually Have a Lower Price Point. Because of the repairs involved, these homes are usually less expensive up front than move-in-ready options. According to a survey from StorageCafe, fixer-uppers come with price tag; ...
Read More
housing market, moving, construction, builders, mover, newly built homes, new construction homes, homebuilders
Thursday, December 26, 2024 / by Joyce Dungca
Planning to buy a home soon? Why not go for something brand-new? Because data shows a lot more buyers are seeing the appeal of new home construction these days – and you may find out it’s what you want too.
The National Association of Realtors (NAR), explains that newly built homes accounted for 15% of all homes sold last year. That’s a significant increase, and is actually the highest percentage in 17 years (see graph below):
To get a closer look at why so many people are opting for a brand-new home, NAR surveyed recent buyers. And here are the top reasons why new builds gained so much popularity (see graph below):
Avoiding Renovations or Problems with Plumbing or Electricity (42%)
According to buyers, the number one benefit is the peace of mind that comes with getting brand-new everything. Because let’s face it, buying a home right now is pricey. And with inflation also putting a pinch on your wallet, you want t. ...
Read More
team raj jaggi, buyers, sellers, housing market, newly built homes
Thursday, December 12, 2024 / by Joyce Dungca
When planning a move, a newly built home might not be the first thing that comes to mind. But with more brand-new homes on the market and builders focusing on smaller, more affordable options, this type of home may just be the key to crossing the homebuying finish line.
Here's why a new build is worth considering – and how an agent can help you find one that meets your needs and your budget.
1. More Newly Built Homes Are Available Right Now
First, let’s break down the types of homes on the market. A newly built home is a house that was just built or is under construction. On the other hand, an existing home is one a homeowner has already lived in.
Right now, the number of existing homes for sale is still low. And, if you’re struggling to find something you like because there aren’t that many existing homes for sale, opening up your search to include brand-new homes could really expand your options. That’s because there are more newly; ...
Read More
team raj jaggi, buyers, sellers, newly built homes, home buying
