Builder Incentives Getting Bigger

Imagine building a new neighborhood of houses and then having them sit completed for months. No income, just sitting there empty. That's what builders are facing right now. With homes taking longer to sell, builders are having to come up with new innovative ways to have you buy their homes. Considering that most new construction homes aren't exactly in the price range of the first-time homebuyer, people are needing to sell their existing homes before they can purchase the other, or at least, before they want to purchase their new home.

As a way of yet avoiding the contingent offer, several builders are committing to paying several months of your new home mortgage payment while you wait for your current house to sell. Considering the big drawback to buying before you sell your other is that people don't want, or can't afford both mortgage payments, builders are taking that problem out of the picture by paying it for you. How great is that deal?! I'm sure that there are stipulations attached to it, like aggressively pricing your home, etc. But still, what a deal! The company Murray Franklyn is offering up to 3 months or mortgage payments paid for. The Burnsteads are offering up to 6 months!

Now, nothing is free. So before you go and get too excited, think it through. Builders aren't in business by giving money away. So you've got to figure that you're paying it in another way. Most likely by paying for it in the price of your house. But, for your dream home... that might just be worth it.

If you're interested in seeing some Murray Franklyn or Burnstead neighborhoods, let me know. I'll let you know where they are or even take you to see some.

There's no better time to buy when people/builders are practically begging you to come buy from them. Call me if you need me!

Good luck... and Have fun!

Aaron