April is New Homes Month
Buyer Preference for New Homes Continues to Rise
Judie Docs, Executive Officer – CSP, MCSP, CGP, CMP, MIRM
North Coast Building Industry Association (NCBIA) ncbia.com
As buyers navigate the housing market, new homes are becoming more appealing. According to a National Association of Home Builders (NAHB) survey of recent and prospective home buyers, when faced with choosing between an existing home or a newly built home, 61% of buyers say a new home is their first preference, which marks the highest share of buyers leaning toward new construction since 2007.
New homes can be custom-built on the buyer’s lot, or they can be built-for-sale (including the land). The NAHB study shows a rising trend in the share of buyers who would prefer a new home built-for-sale over the last two decades, from 22% in 2003 to 40% in 2023. In comparison, the preference for a custom-built home among buyers declined from 49% to 21% during this period.
It’s no surprise that buyers are seeking new homes. Unlike many older homes, new construction features modern floor plans and designs prioritizing space, optimization, and comfort. Buyers can select from a variety of layouts, including expansive open areas to accommodate diverse lifestyles and growing families. Moreover, contemporary designs extend beyond flexible floor plans to incorporate the latest technological features and appliances.
Another benefit of purchasing a new home is the energy-efficient options available. Many builders have embraced green building techniques, so a home is cost-effective to operate, has healthy indoor air quality and minimal impact on environmental resources. NAHB recently surveyed more than 3,000 home buyers, both recent and prospective, on the features they prefer in their home, including eco-friendly components and designs. Some of the top features desired by home buyers include modern windows, HVAC systems and ENERGY STAR-rated appliances.
New homes offer financial advantages beyond energy efficiency. Homeowners can also save on maintenance costs. Professionally constructed homes are built to endure, mitigating the need for costly repairs common in older properties. New home buyers are spared the inconvenience of replacing aging appliances. With minimal need for immediate upgrades or renovations, residents can fully enjoy their new homes, communities, and the American dream.
For more information on the benefits of a new home, contact the NCBIA. We are your local not-for-profit trade association representing member companies involved in all aspects of home building, remodeling, and other services available to help you in the future. So, you can see that you use an NCBIA member for your protection. If you are unsure that your contractor is a member of the NCBIA or you are looking for a list of NCBIA members, you can visit our website at www.ncbia.com or call 440-934-1090. We also have a job posting board (under the Industry tab).
Our 24/7 Virtual Parade of Homes!!! It lets you look at some of our builders’ new homes and communities on your mobile device or computer. You can also see our remodelers. We know time is our greatest asset, and via our NCBIA Virtual Parade of Homes, we save you time looking for a new home or a community that fits your lifestyle.
NCBIA – Building Homes, Enriching Communities, Changing Lives – Come Build with Us!
Like us or better yet share us on Facebook!