Three Reasons Why Now is the Perfect Time to Buy a New Custom Home on LBI
It’s been cold. It’s been raining, snowing, or sleeting and all we keep thinking about is summer. No matter what the weather is, we all have to continue with our daily activities and those thoughts of summer on Long Beach Island keep us going until winter is over. For those who are considering building a home on LBI, searching during the winter can be challenging! But here’s the good news: believe it or not buying a home during winter is a great idea. Here are three reasons why now is the perfect time to buy a new custom home on LBI.
Not as Many Buyers
Since the winter months are typically slower in real estate, there are not as many buyers out there, which means you have your pick of properties on the market. Spring and summer months make up 40% of existing home sales while January and February are less than 6%. For those selling their homes, that’s not ideal, but as a buyer you may be able to be more selective in the property that you buy and your chances of finding your dream location on LBI are higher. By having the time to do your research, compare custom home builders, and shop around, you’re sure to make a sound purchase decision this winter.
Motivated Sellers Make Great Deals
With less buyers on the market for a new home during the winter months, sellers can be very motivated. This means there could be more incentive to buy than when the competition is fierce in the spring and summer. When buying a property on the island, you may be able to motivate the seller to make a good deal, which helps with demolition and construction costs. When the spring market is hot those same sellers may not be as willing to deal. Making a buying decision a few months earlier during the winter can help with adding more upgraded features in your new custom home!
Time to Sell Your Current Home
If you have an existing home to sell, but you want to build a new custom home, it may be difficult to coordinate these two transactions from a timing perspective. When you build a new home, the completion date may be several months to a year out, which can actually be a great advantage! There will be plenty of time to start your new home while putting your existing home on the market in early spring, well before your anticipated closing on the custom home your building.
Winter is one of our favorite times to work with new home buyers to get started on building their custom homes on Long Beach Island. It gives us the opportunity to work with buyers on property searches and provide valuable information on building, as well as custom home design. For anyone that wants to enjoy their new custom home this summer, we do have an available home that was recently completed in Harvey Cedars. Now is the perfect time to buy a new custom home on LBI, so contact us today.