Were you aware that over 325,000 people live in Orlando?
With demand continuing to grow, new houses are being built to keep up. If you're thinking about moving to Orlando, you might be interested in new construction homes.
This isn't something you should rush into, though. Read on for our guide on new construction homes in Orlando.
Why Choose New Construction Homes?
There are several reasons why people choose new construction homes. One of the main reasons is that everything is new. You don't have to worry about the following:
- Old appliances
- Outdated designs
- Hidden problems
Modern homes also often come with the latest technology. These energy-efficient homes are designed to save you as much money as possible on your utility bills.
These homes can also give you the chance to customize your property. When you buy off the plan, you can choose the following features:
- The color of the walls
- The type of flooring
- The layout of the rooms
What Does Buying Off the Plan Mean?
Buying off the plan means buying a home before it is built. You choose a home from a plan or model. Then, the builder constructs the home according to the plan.
This process can take several months to a year, depending on the size of the development and the home you choose. One of the advantages of buying off the plan is that you often get the home at a lower price. As real estate developments grow and more homes are built, the prices usually go up.
By buying early, you can lock in a lower price. However, there are risks involved as well. Since the home isn't yet built, there's always a chance that the final product may differ from what you expected.
If you're worried about this, you can ease your concerns by verifying that the builder is reputable.
Things to Consider Before Buying Off the Plan
Before you decide to buy a new construction home off the plan, there are several things you should consider. Remember these things:
Consider the Location
Is the new housing development close to schools, work, and other places you frequently visit? Also, think about the future development of the area.
Will there be more homes, parks, or commercial areas built nearby? This can affect the value of your home in the future.
Understand the Costs Involved
Buying a new construction home can be more expensive than buying an existing home. You have to think about landscaping, upgrades, and other features. Make sure you know what's included in the new-construction home price and what is extra.
Be Patient
Building a new home takes time. There may be delays due to weather, supply shortages, or other factors. Make sure you're prepared to wait for your new home to be completed.
New Housing Developments Are a Great Option
New construction homes in Orlando offer many benefits, including modern designs, energy-efficient homes, and the ability to customize your home. With careful planning, buying a new construction home can be a phenomenal experience.
Are you interested in starting your own rental property business in Orlando? Contact PMI Prime Home to learn how we can help. Our property management team has over 27 years of combined real estate experience.
