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January 2018

Found 2 blog entries for January 2018.

It’s fairly obvious that a new home offers certain advantages over purchasing a resale product. Typically the buyer chooses certain design elements, enjoys the luxury of new, modern appliances, and can rest easy knowing that most items come with an extended warranty. What we want to highlight are the not-so-common reasons that homeowners might be drawn into the new construction realm, and along the way, educate how purchasing a new home in Hampton Roads might be the right move for you!

The first thing that comes to mind is the electrical system. Homes built earlier in the century just don’t have the outlet capacity for modern technology. There’s no one to blame, how could a builder foresee the myriad of smart devices most homes are flooded with today?

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Each year economists check on the pulse of the housing market by looking at which trends are on the rise. In 2019 we’re expecting to see a continued rise in new construction projects across Hampton Roads stemming from increased confidence in credit approvals as well as solid growth in wages for American workers.

Let’s talk about inventory for a moment: as resale inventory becomes scarce more buyers are turning to new homes for as a way of escaping the “What If’s?” of a competitive market. The ability to customize a home for their lifestyle, move in to a home that’s covered with top-to-bottom warranties, and invest in themselves are all part of the draw of new home communities. Many Millennials are waiting longer to purchase their first home as well,

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