For homebuyers, new construction options may have felt out of reach in recent years, as the price of new builds typically outpaced existing homes. But that trend is shifting. According to a recent study from realtor.com, the price gap between newly built and existing homes has fallen to a record low, opening the door for more buyers to consider new homes.

Reasons to Consider New Construction

New construction offers a range of unique benefits compared to existing homes that make it an option worth considering, including:

• Modern designs and energy efficiency: New homes are built for today’s lifestyle, with open-concept kitchens, flexible work-from-home spaces, and energy-efficient systems that can save on utility costs.
• Personalization options: Many builders allow buyers to customize various aspects of a home, including finishes, floor plans, and more, giving you the ability to create a new home that reflects your tastes and style.
• Lower maintenance costs: Unlike older homes, which may need more upkeep or renovation as they age, new construction may not need much in the way of immediate repairs. That can mean less stress for you as a homeowner, and save you time and money over the long run.
   

Of course, new builds may not be right for every homebuyer’s situation, especially if you prefer an established neighborhood or are on a shorter timeline. Buyers should consider factors like construction schedules, potential delays, location tradeoffs and the costs of making upgrades.

Build With Bell

When it comes to new construction, Bell Bank Mortgage has everything under one roof. Our in-house construction team can help determine your budget and evaluate which financing options are the right fit for your situation. Our range of new construction programs include:

• Rehab loans
• One-time close loans
• Two-time close loans
• Lot loans
• And much more!
   

If you’re in the market for a new home but haven’t previously considered new construction, now could be the perfect time. Contact me today to learn more about how a new build could fit your lifestyle, preferences and budget!

Subject to credit approval. Program guidelines are subject to change without notice. Not available in all markets. Other restrictions apply.