By Renee Cohen
November 14, 2023
It’s that time of year – we’re past Halloween, approaching Thanksgiving and inundated already with holiday music, light shows and celebrations. Also indicative of this time of year? Increased opportunity for deals on new construction homes.
Why is that? Short answer – builders want to sell their existing inventory to get it off their books before December 31st. As such, starting in November they tend to offer incentives to buyers if they can close before the end of the year. These incentives range from discounted sale prices to interest rate buy-downs to closing cost credits to including typically not-included appliances in the sale. There are stipulations that must be met to capitalize on these incentives including working with the builder’s preferred lender and/or meeting minimum down payment requirements.
I was with clients in Sterling Ranch yesterday looking at new construction homes. Sterling Ranch is a developing master planned community on the southwest side of the metro area near Chatfield Reservoir and Waterton Canyon. Both builders with whom we met – as well as the several other builders I spoke with prior to our visit – offered one or more of the incentives described above. And, it’s not just happening with the builders in Sterling Ranch; buyers can find significant savings and great deals with builders across the metro area.
If you have been waiting for a good time to buy and you are interested in new construction, now is a great time to take a second look. Please let me know if you have any questions about new construction incentives or anything about the market in general. And, as always, if you know of someone looking to get into the market, please pass along my name. I’m happy to help them if I can.