With all the change and uncertainty happening in our world right now, it is understandable to think that a new home could be placed on the backburner. COVID-19 has turned our world and our industry upside down and caused us to reconsider our priorities and approach to the services we provide. However, despite such a time of transition, the demand for new homes remains steady.
After being confined in our homes for weeks on end, homeowners are more aware of their families’ needs and priorities than ever before. People have a better understanding of what they want in a home, and a new home can meet those needs. That homeowner awareness and steady demand, coupled with record low interest rates and the demonstration of industry adaptability, makes RIGHT NOW an incredible time to consider building a new home.
Let’s explore some of those benefits:
At a time like this, who doesn’t want to live in a brand new, CLEAN home that has never been lived in?
Many smart home technologies that are being incorporated into new homes such as touchless controls on sinks, motion sensor lights, and voice commands, are all equipping you to be more handsfree (and touch less stuff)… Plus, new homes right now are often emphasizing more natural light as well as indoor-outdoor features that allow the homeowner to feel less confined in their home and more connected to the outside world.
Many families are probably realizing how much they would appreciate more open spaces today after being confined to their existing homes for weeks on end. A new home can provide the solutions to your family’s ever-evolving needs and priorities.
Many homeowners are realizing how important a LARGE, organized pantry is for their family now that the kids have been in the home and a lot of households have been serving 3 meals a day.
Does anyone dislike their work from home space after all this? Between working from home and the kids needing space to do e-learning and schoolwork, the desire for more effective office space has become an increasingly larger priority for households.
This experience with COVID-19 has really put the focus back on families. While multigenerational housing has increased in popularity, we anticipate seeing this increase continue as families desire to help take care of aging grandparents, have a space for young children, teenagers, or even post-graduates moving back in.
Aspects of our lives may have changed over the past two months, but life does not stop. People still need to move due to relocation, growing families, downsizing, and various lifestyle changes.
We repeat, an ALL TIME LOW! Take advantage of this opportunity while it exists and connect with your bank today.
People can afford more home now than they will be able to in the future.
Existing home inventory does not come close to meeting the housing demand in our market right now, so building a new home is the best means for getting what you’re looking for.
When financially comparing buying a home to renting, it is important to consider that your mortgage payment will not change or go up, but your rent will. If you can buy a new home at a lower payment (see incredibly low interest rates!), and have that payment for the next 30 years, then why would you not buy?
Builders and suppliers are quickly adapting to the changing environment we live in. The necessity of new processes to be developed during COVID-19 will impact the way our industry offers solutions and does business long-term.
Many industry professionals are now offering virtual tours, video walk throughs of move-in ready homes and model homes, virtual design centers, and progress videos during construction meetings, plus curbside closings and online notary approvals, to accommodate your safety and schedule while efficiently continuing your home project.
We may have to conduct our business a little differently these days, but BAGI Members are here and ready to make your new homeownership experience the best it can be. Visit BAGI.com to find your Builder, Remodeler, Supplier, or New Home today and learn more about what our members have to offer!