Buying a Home

Getting Ahead of the Bidding War Game

April 30, 2018

Picture this. A home goes up for sale in a sought-after neighborhood. Maybe it’s located in a well-rated school district or offers an ideal commute to work. You see that the home is in your range and try to beat the competition with a fast offer above asking price (this isn’t the first home you’ve bid on). But an investor has already offered more—and they’re willing to pay all cash. The seller, understandably, takes the higher and more expedient offer, and your house hunt continues. Better luck next time.

Maybe you’ve been there. If you have, you’re probably well aware that buyers can go through multiple such bidding wars before eventually contracting on a home.

Fortunately, there’s a solution…

So how do you ensure you don’t get outbid by deeper pockets and investors? Simple: buy new. New homesites are sold on a first-come, first-served basis. If you’re financially qualified and the first one through the door, the home is yours! Plus, you won’t have to worry about watching the price of the home get pushed out of reach by several offers.

Other reasons to buy new…

Many new home communities offer a variety of floor plan options, making it easier to find something that meets your wish list. Not only that, if the builder has a design center, building from the ground up gives you the luxury of personalizing with selections on everything from the flooring to the cabinets and doorknobs. And don’t forget that new homes may offer the major benefit of less home maintenance!

 

So, ready to explore new homes in your area? Head to RichmondAmerican.com to see what we offer near you.

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