Why to Invest in New Construction in Indianapolis

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What are the advantages of buying new construction property over a pre-existing home? There are three clear advantages.

No one’s ever lived in it before. It’s brand new. No one’s neglected any parts of the home, such as a furnace or the gutters. You have a fresh start. You’re getting something brand new. You receive a full warranty. Most builders offer a two-year Bumper-to-Bumper Warranty on their properties.

You receive the latest technology. Since the home has been recently built, it offers the latest technology. It might be the latest and greatest types of insulation, windows, shingles, and more. This is huge for utility bills because they can be reduced with clean energy. Plus, people enjoy more open space between the living room and kitchen, which traditional home layouts don’t always offer.

You have a better chance at future resale. If someone owns a home for five years, it’s easier to sell a five-year-old home compared to an older one. As real estate agents, we find newer homes easier to sell.

As you can see, there are tremendous benefits to investing in a new construction property compared to pre-existing home. New definitely comes out on top compared to older listings.

If you’re thinking about buying or selling a home in the Indianapolis area, give us a call or email today! We’re happy to talk about and serve your real estate needs.

The Importance of a Three-Part Home Inspection

Selling in the Indianapolis area? Get a free home value report    
Purchasing in the Indianapolis area? Click here for full MLS access

Today, Scott Surette from Premium Home Inspections joins us to discuss the three-part home inspection on a construction property. Why would anyone want to pay someone to inspect a brand new home?

Typically, people have the misconception that a new property is like buying a new car. This isn’t the case. New construction isn’t that way. It’s an imperfect process with many people working together. Bringing in a new set of eyes to look everyone over is important.

I have a specific process. It includes three stages: foundation, pre-drywall, and final. We look at things before the foundation and drywall are built. We follow the home each step of the way as it’s built. We want to safely say we’ve looked at everything and verify it officially.

We want to identify any and all problems prior to closing! Once the builder received their pay, it isn’t easy to back out to fix things. We know it upfront and get it fixed.

If you’re interested in buying or selling a home, as always, please reach out. We’re happy to serve your real estate needs. Give us a call or email today!

Where Is the Indianapolis Area Real Estate Market Heading in 2016?

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Purchasing in the Indianapolis area? Click here for full MLS access

In 2015, we had a solid real estate market. We experienced a bit of a seller's market, as inventory has been low and demand for homes has remained high. This has resulted in multiple offer situations for sellers, which is always great news for people looking to get a great value for their home. However, pending sales are trending down year-over-year, which means we're starting to get market stabilization.

As we head into 2016, expect to see a market that still favors sellers. By about midyear, though, we're expecting the market to level off and become neutral. A thing to keep an eye on is interest rates -- the Federal Reserve has indicated that interest rates might rise as early as Q1 next year, which will greatly affect the buying power of consumers.

If you're thinking about making your move, now is the time to get off the fence and look for something to buy. Rates are still at historic lows, so if you want to lock in a very affordable rate on your mortgage, now is the time to act!

Recently, we saw an article in which a handful of builders were interviewed about the Hamilton County housing marketplace. They said that, from here on out, it's going to be difficult to build a home for $200,000. One builder even said that it's going to be almost impossible to build anything under $175,000! If you would have told me that 10 years ago I would have called you crazy, but the way the market has picked up and the increases in material costs have made building from scratch a more expensive process.

If you have any questions about where our market is heading, please don't hesitate to reach out to us. We would love to hear from you!