Is New Construction in Prince William County the solution to our housing inventory shortage? Here’s my opinion on it! YES!
We are starting to face what I consider a crisis in the Northern Virginia area, and really, nationwide. I am on several Facebook forums and on Clubhouse and the lack of inventory is a hot topic on a daily basis.
Where did all the inventory go?
First, when Covid hit, no one knew what to expect. With so many states instituting shut downs, sellers everywhere hit the pause button. The spring market in 2020 came to a screeching halt in March and did not start to slowly open back up for months. When people did start to list again, it was a slow trickle of inventory coming into the MLS, but the pent up buyer demand has been huge. Now that vaccines are rolling out, some sellers want to resume their plans to move, but the problem now is where will they go? Odds are, they are going to list their house and it will be under contract in a day or two. But then they have to enter the market as a buyer and with all the competition, the likelihood that they will be able to buy with a home sale or coinciding settlement contingency is pretty low.
Where am I directing some of my buyer clients?
New construction. Look, we all know in this area, new construction is almost a taboo topic. Even as a Realtor, I don’t typically support big development and think resale keeps growth in check. However, this time, I see the benefit of new construction in Prince William County. It solves a lot of our current problems and typically checks off the boxes for a lot of weary buyers.
Five reasons to consider new construction
- Custom Design allows you to get exactly what you want without the expense of renovating a resale.
- Lower maintenance costs – you know that everything is new and likely has a warranty.
- Lower utility bills – builders are green and using smart technology to keep costs down.
- Available INVENTORY – Houses may be released in phases, but at least they aren’t selling to the highest bidder.
- That new home feel and smell – and peace of mind that you are the only occupants that have ever lived there and know the history of the house.
If you are interested in new construction in Prince William County, let me know! I am happy to help and introduce you to new communities!
VERY IMPORTANT – make sure you take a Realtor with you to every new home community or register with a Realtor’s name. The sales agent represents the builder and YOU need representation too!
You can reach me at 703-297-1278 or [email protected]