With hundreds of thousands of Americans trying to buy a home right now, you might think it’s best to wait out the dramatic increase in demand—and decrease in inventory—to snag a better deal on your next house. But if your needs for buying a new home are more timely, like an additional bedroom to accommodate family members, a bonus room for your new home office or less square footage for right-sizers, then it’s probably not worth putting your plans on pause.
Luckily, with a little bit of flexibility in your timeline, you won’t be stuck in your current home for much longer. Homes by Taber, Oklahoma’s Favorite BuilderⓇ, has four convincing reasons why now is a great time to buy a home.
The new-construction process is different from resale
The market for resale or used homes is almost always competitive—and it’s even worse right now. 2020 was a record year for home sales across the country, with so many people eager to make the switch from renting to owning a home, relocating for a new career or simply needing more livable space with their new schedules. This demand for housing, paired with continued record-low interest rates, made resale homes fly off the market. As inventory of available homes began to drop, bidding wars ensued between interested buyers, driving prices up on older or outdated homes that would still need additional investment once purchased.
Many homeowners, especially first-time buyers, are under the impression that they have to rent or buy resale because they believe a new-construction home is out of their grasp. However, Homes by Taber offers multiple price ranges, accepts various financing options from mortgage lending professionals and includes over $80,000 worth of upgrades (at no cost to the buyer) in every home we build while passing the savings along to the home buyer. If the ultra-competitive resale market makes you feel uneasy about the homebuying process, rest assured that the process for buying a new-construction home, especially from Homes by Taber, offers transparency and a lot less pressure.
With plenty of communities throughout Oklahoma and lots to choose from, you could be on your way to selecting a floor plan and watching your next home be built from the ground up—with all of the personalizations you desire—in no time. Even if you think you want the instant gratification of purchasing a home that’s already built, we promise that the longer timeline is worth it to get the standard of quality, enhancement features and modern floor plan the second you step foot inside your biggest investment. Plus, who knows how long you’ll be stuck in bidding wars or waiting for another resale home to pop up in your ideal neighborhood.
You won’t have to worry about selling your current home
As mentioned earlier, 2020 was a record year for home sales—but 2021 has trended towards allowing sellers to sell their homes at a record pace, maybe even more. According to Forbes, 2021’s real estate market is expected to exceed last year’s $2.5 trillion gain. Due to increased competition between buyers, sellers of resale homes were generally getting their asking price—if not more.
So homeowners really don’t need to stress about selling their current home. Chances are you’ll have multiple interested buyers within days of listing, and may even benefit from a bidding war between them. The market is hot!
Before you begin the construction process with Homes by Taber, we’ll give you a detailed schedule and estimated construction time for your new-construction home and a firm closing date will be set once it’s confirmed with construction, so you may confidently plan your move. Using this schedule, homeowners can figure out the perfect time to list their existing home on the market. An extended timeline also gives homeowners plenty of time to complete any needed structural or visual repairs in order to get top-dollar for their house.
If you would like to completely avoid the hassle of selling, consider our Trade Up program. If you buy a new home from us, we’ll buy your home from you. Then, you don’t have to worry about timing or showing your home to home seekers.
Interest rates are still low—for now
Mortgage rates are driven by movements in worldwide financial markets. As the world returns to a sense of normalcy after the global pandemic, rates are predicted to start creeping up. According to The Washington Post, mortgage rates have already pushed upward slightly in the first quarter of 2021, driven by general improvements in the economy.
Homes by Taber provides resources with their preferred lenders to check in on the current interest rates, and can even help calculate your mortgage payments based on current rates. Rates are still nearing record-low numbers, meaning that it’s still a great time to buy a home. People looking to buy homes can take the gamble and wait for sales prices to potentially go down, but in turn, rates will go up. We encourage you to work with a lending professional, get pre-qualified, and make a move before the rates do.
Homes by Taber is adding new communities and inventory
The final (and best) reason we suggest moving forward with your home search —Homes by Taber is committed to creating high-quality homes and desirable communities throughout Oklahoma. So keep your eyes peeled for new community announcements around Oklahoma in the coming months. We can’t wait to welcome you to the Taberhood of your choice.
Additionally, we’ll keep adding quick move-in options as they become available for individuals who need to move as soon as possible. We understand that some homeowners need a shorter buying journey than others and we are consistently starting construction on showcase homes with the most popular styles incorporated into the design.
If you’re tired of waiting for your journey to a new home to begin, consider working with Homes by Taber, a new-construction builder who places quality, safety and value above all else. For more information, to schedule a tour of a model home or to determine an estimated timeline for your build, contact us online or call the office at (405) 984-1185.