Are you considering building a brand new home in Tampa, Florida? If so, you aren’t alone! An estimated 1.739 million homes will be built throughout the United States this year. Although existing home sales are popular in Tampa, there is an increasing number of buyers deciding to build their dream home. What is driving more people to buy a new construction home in this area?
Read on to find out the benefits and why people are making this decision now!
Choosing Your Builder
Buying a new construction home gives you access to some of the best home builders in Tampa. When you buy an existing home, you will be inheriting the problems someone else left behind. You also may not know much about the company that built the home or the subcontractors used on the job.
New construction in Tampa allows you to handpick your builder and have a home built specifically to your specifications. This will allow you to develop a personal relationship with the people building your home and design it to fit the needs of you and your family!
Low Mortgage Interest Rates
It’s no secret that interest rates are hovering around or at all-time lows. The average interest rate on a 30-year fixed mortgage is only 3.33%! Homebuyers with the most favorable credit scores may even find a lower rate.
Borrowing money at a lower interest rate means that it costs less than ever before to take out a loan and pay back the principal. When comparing new construction vs buying, it’s worth considering building the home you want while it is more affordable to borrow money from a qualified lender.
Taking Advantage of Increases in Savings
Homebuilders in Tampa can build a home exactly the way you want it. Many buyers are picking this option because they are taking advantage of large increases in savings over the past year.
The onset of the COVID-19 global pandemic has given many Americans more cash than ever before. As recently as February 2021, U.S. adults were saving an average of 13.6 percent of their disposable income!
With widespread shutdowns and travel restrictions for more than a year, many Americans have saved their money. This can give home buyers more flexibility when it comes to making the decision to build a new home in Tampa instead of buying an existing property.
Buying a New Construction Home in Tampa
Buying a new construction home is a life-changing experience for you and your family. Instead of purchasing a house that was built on a tight budget or to the specifications of a stranger, you will get one made especially for you!
At New Legacy Homes, we are your source for the best custom homes in the City of Tampa. Our team has more than 65 years in the homebuilding industry and we take a hands-on approach to meeting the needs of each client.
Contact us today to learn more about our smart home technology and how we can bring your dream home to life!