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Are “New Homes” Worth It?

I have a client looking at new homes in the Antioch Area. She is enamored with the Model Homes. The problem is that the builder wants almost $310,000 for a New Home, while there are closed re-sales of 2 year old versions of the same model with prices under $250,000. My client will get an additional $10,000 tax credit if she buys a New Home, but if with the tax credit she will still end up paying a $50,000 premium for a New Home. My client is aware of this but still willing to pay the premium. Whether or not such a premium is worth it is a subjective evaluation, but we remain surprised when our clients are willing to pay these premiums..

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167