October 27, 2020
Categories: Tools
Each year as we approach fall, it seems like we press a “fast forward” button to the Near Year as we are inundated with holiday marketing and decorations that speed us through “pumpkin spice” season and Halloween, straight to Thanksgiving, Hannukah and Christmas. The fourth quarter of the year typically revolves around compiling holiday shopping lists, planning family gatherings and organizing seasonal travel. It is hard to fathom this would be a good time to press the “pause” button and consider adding a new home to the shopping list. But in fact, buying during this time of year has some serious advantages. Let’s take a look at why.
Unique to 2020, interest rates are at historic lows.
This has been a year where we need to appreciate the good where we can find it and there are
numerous upsides to buying a new home in this current climate. One undeniable advantage of this year has been that mortgage rates have continuously dropped reaching historic lows, making it a particularly appealing and affordable time to purchase a new home.
Savvy new homebuyers who are positioned to close quickly benefit from better savings
Doing your homework and being prepared prior to shopping for a new home can really pay off. The best way to do this is by being prequalified for a mortgage, and by doing your due diligence on communities, builders and locations. You will likely find year-end special offers (more about this below) but they are time sensitive and you need to be able to strike while the iron is hot. Buyers who are prepared and who can act quickly are likely to get the best deals.
As fiscal year-end approaches, builders want to move inventory off their books
Builders may have inventory homes in their new communities – these homes are built in
anticipation of their sale — before they have a contract to sell the home. Some people call these spec homes and others call them inventory homes. They are ideal for shoppers looking for a quick move in rather than waiting months for a home to be built for them. As home builders approach the end of their fiscal calendar year and they have standing inventory, they prefer to sell these homes and not carry the financial expense of them into their new fiscal year. Not all builders follow the standard December 31
st yearend so be sure to ask. Just like specials or promotions that run for the holidays, builders have inventory sales they want to spotlight and sell as well.
How do you discover year-end specials and incentives?
Go directly to the known sources: CharlestonNewHomesGuide.com (see Resources >
Neighborhood News & Promotions), your local Realtor or to the builder’s website. How do you know about special deals? Charleston New Homes Guide has a variety of avenues to ensure you’re in the loop with the latest updates…keep it social on
Facebook or receive
email updates directly to your inbox with the Charleston New Home Market Watch, Virtual Open Houses and real-time flash sales.
Maybe this holiday season you’ll jiggle all the way to a great deal on your brand new home.
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Categories: Tools