Many homebuyers prefer to buy new properties, to take advantage of the benefits they offer.
But the question that we received all the time, is how can they buy a new home in this current real estate market in Orlando? These buyers are wondering what they need to do in order to get their dream home.
The answer is not easy. We all know that this is a seller’s market. It means that more people are looking to buy than there are homes available. Property inventories are at historically low levels, median home prices increase, and experts from the Orlando Association of Realtors predicts that the housing market will remain highly competitive in 2022.
The above are some of the reasons why homebuyers need to work with a Realtor that knows the Orlando market. And our Expert Team at Viva Orlando is here to help. We can talk to you about the communities, we can explain the different residential areas and how is the process to buy a new home, which is very different from the one that we saw, for example, two years ago.
Our expert team visits new communities in Orlando and nearby areas all the time. We have extensive knowledge of what is selling now, what is expected to sell in the future, and the type of communities and properties that builders are offering.
We have developed a great professional relationship with the builders and sales agents at the builders’ offices, which allows us to hear first-hand what the sales process is like, from making offers, the estimated time it will take for properties to be release (put up for sale) and how to prepare a winning offer.
If you want to be successful buying a new home in Orlando in this market,
here are my best tips:
Set realistic expectations about the market-This is not the time to make offers below the price not only for new homes, also for resales. In many cases, builders will ask also for your best and highest offer. Be prepared to give them what they ask if you really want the house.
Be flexible about the area where you plan to buy and the type of property you want. Be open-minded to hear what they’re offering, because sometimes builders discontinue certain models or make changes to them. But also, we see that they introduce new models from time to time.
Get pre-qualified when looking for your home-Although most of the builders will require a pre-qualification with their preferred lender to give you closing cost incentives (depending on the builder), it’s still a good idea to get pre-qualified independently before visiting them. This way you will know up to what quantity you can buy. It will also help you learn more about the monthly payment and closing costs. With this in hand, you will be able to get an idea of what type of properties you can buy.
Be patient-To get the home that you like it may sound like winning the lottery. But the way that new homes are being sold is to put you on a waiting list (or VIP list), and notify you when the house that you’re looking for is going to be release, which means is going for sale. This process can take months. But please, don’t get discouraged, continue searching and stay positive. We’re here to help you in this process until you find your perfect house.