When it comes to purchasing a home, there are so many things to consider. But at the top of the list is one major question: will you purchase an existing home or buy a new build? We previously discussed the pros and cons of both new construction and historic residences. But today, let’s talk about the next step for those who do choose to purchase a new build. As soon as possible, you want to find your lot or speculative home and lock it in. Why? Here are the 4 perks of getting in on a new build development early.
#1 Pay the Best Price for Your Luxury Home
It’s true … if you are able to get in on a new build development early, you are likely to receive a better deal. For starters, many developers will offer a celebratory discount on the first few homes to be sold. But the nature of the market, too, plays a role in this factor. It’s just common sense that as more homes near completion, more will sell. And every home that sells will further drive the price of the next one up.
If you want to know you are getting the best bang for your buck, buy early.
#2 Take Your Pick of Homes Within the New Build Development
For those who care about which lot, view, and home type they are able to purchase, getting in on a new build development early pays off. The reason for this is obvious: selection and inventory! While a builder and real estate team will undoubtedly try to get you want you want at any stage, they can’t help what has already been sold.
Keep in mind that even if you aren’t looking for the best lot in the neighborhood, this is a factor. Since lots that don’t have the premier view will be more affordable, they will probably go first. Maybe you don’t care about the view, and thus, don’t want to pay for the top lot. You’ll still want to get in early, because all of the others might be gone otherwise.
#3 Be a Part of the Community Growing in Your New Build Development
Another fun thing about getting in on a new build development early is that you get to watch your new neighborhood come to life. Now we’ll admit, this isn’t for everyone. If construction really bothers you, you might want to stay somewhere else for the first little while of owning your new home. But here’s a pro tip: ask builders what their policy for work is. They should be able to give you a general idea of how early or late in the day they are working.
Still, many people enjoy looking out their window to watch the progress take place. Depending on the openness of the developer, you might even be able to weigh in on fun decisions: dog park or playground—what do we think? And even if that isn’t the case, it can be pretty exciting to be one of the first people moved in, watching all of the other homes come to fruition around you and greeting new neighbors one by one.
#4 Customize More When You Buy Early
Now obviously, if you are buying a plot of land and hiring your own construction and design teams to craft a home from scratch, this works a little differently. But think about speculative homes. In this case, you’ll choose from a few plots and home models that have already been outlined as a part of a master-planned community. You will also most likely, get to make a few key design decisions, like flooring, fixtures, paint color, countertops, and more. That is, if you get in early enough.
In many cases, if there are five homes left to be built in a community and no one has purchased them, the builders are just going to move forward. Then, they’ll sell them as already-completed residences. You might like this if you are eager to move in. But had you started that process earlier, you could have customized and personalized a little bit more.
All in all, there are definite perks of getting in on a new build development early. Doing so gives you more opportunity to be involved in the neighborhood’s genesis while getting first pick of everything from price, to views, to countertops.
If you’re thinking that Savannah might be your next home, we have some good news for you! We have already built quite a few stunning homes here at Upper East River. Buyers have moved in, and the social community is thriving. But, we haven’t finished everything off yet! 😉
To learn about our current and next phases of construction, as well as available homes, reach out to our team.