Home shoppers can’t help but feel the heat these days, with the inventory of existing homes hitting an all-time low in late 2021. That limited inventory, coupled with high demand, has sent home prices soaring. If you can’t find a suitable resale or you just want to start fresh, new construction can be an appealing option.
Brand-new homes offer enhanced energy efficiency, amenities and layouts more suited to modern lifestyles, plus the potential to customize spaces that you don’t get with a resale. But if you’re not careful, costs and expectations can spiral out of control.
The good news is that following these tips for buying new-construction homes can save you money — and hassle. Here are five costly mistakes to avoid when buying a new house.
1. Don’t assume you can’t negotiate with the builder
The top myth buyers of new-construction homes tend to believe is that builders won’t negotiate with them on price. But…