Buying a Resale isn’t Your Only Option: 7 Reasons to Buy New

May 17, 2018

Published by Pratt Home Builders | Article Written by Brittany Shaw Newman

It’s no secret that the greater Chattanooga real estate market is booming. When starting the search for a new home, many buyers seek out a Realtor and begin the quest by perusing the MLS. The retail and resale market is very competitive, so often buyers end up in multiple offer situations, which can be stressful and disappointing since so much effort is required just to find a home you feel comfortable making an offer on. Often, by the time the process of multiple searches and offers is complete, many buyers could have built a new home with more of what they really want in a similar timeline. Here are a few reasons to consider buying a new construction home.

New and in style

Of course, the most obvious reason to build is that new construction is move-in-ready! Everything is exactly how you want it – no need for renovations or remodeling. Pratt’s in-house design team creates each market home and consults with buyers on to-be-built homes, so each new construction home boasts modern trends, inherently more energy efficient features like Hardie siding and better-insulated windows, plus stylish granite, hardwood, tile, and fixtures. Every new Pratt-built home also comes with a warranty so you can sleep easier knowing we’ve got you covered.

More options

With nearly 50 home plans, 19 communities, and multiple new communities opening every year! Our communities offer a variety of amenities and atmospheres! From resort-style pools to splash pads, catch and release fishing, ballparks, soccer fields, green spaces, clubhouses, cabanas and so much more, we have a community to match every lifestyle.

Less competition

Because we sell at every stage of construction, it’s fairly uncommon for homes to reach completion without being sold. This means many homes may not ever make it to the MLS and a Realtor representative may or may not know about available homes.

The same financing

There’s a common assumption that to build a new home means obtaining a new construction home loan. You’ll be pleasantly surprised to learn this is a myth!  You can actually use whatever lending product you would use on a resale home. We handle the construction, so by the time you purchase you’ll own a completed home. We accept cash, convention, FHA, VA, and THDA/USDA where it’s applicable. A deposit is required for a to-be-built (that means you choose the site and plan) and earnest money is required for our market homes (just like for regular transactions).

More ways to personalize

When you build your own home, you can invest where it matters most to you. Maybe that means more square footage, a special homesite, or certain structural changes or finishes. Most of our home plans come with over 20 options, so buyers who want to build can match their home to their lifestyle needs. Maybe that means choosing a screened porch, trey ceiling, or bonus room. There are not only structural options to choose from but also an incredible variety of interior and exterior finishes. Each Pratt home reflects the unique style of the owners.

Built-in equity

In this dynamic real estate market, time is money. When you go under contract, your home plan, site, location and modern finishes are locked in at current market rates, so if the market skyrockets during what is typically a six to eight month build time, that potentially means your home is worth more when you close than when you went under contract, so you could have equity on day one.

The best match

Our in-house real estate matchmaker can determine the best fit for each buyer’s timeline, price point, location and home plan goals. We encourage buyers or their buyer’s agent to get in touch with us directly by booking online or calling 423-757-7687 to learn what inventory is available.

Categorised in: DIY Tips, Market News, New Home Tips, Pratt Homes News, Uncategorized

This post was written by Sydnee Cearlock