🏡 New Construction Homes — Are You Still Believing These Myths?

When searching for a home, many buyers rule out new construction because they think “it’s more expensive” or “you can’t negotiate with a builder.” But recent market data shows these long-held assumptions aren’t always true.

1. Are New Builds Always More Expensive? Not Necessarily.

According to the U.S. Census Bureau and the National Association of Realtors (NAR), the median sales price of new construction homes is currently lower than that of existing homes.Why? On average, new homes are slightly smaller than before, and builders are offering price reductions and incentives to attract buyers. If you’ve ruled out new construction due to price alone, it’s worth taking another look.

2. Builders Don’t Negotiate? Think Again.

Many buyers assume builders never budge on price or extras, but the reality is different—especially for move-in readyinventory. Builders often want to sell these homes quickly and may offer:

• Price adjustments

• Temporary mortgage rate buydowns

• Upgrade packages (e.g., premium appliances, flooring, or landscaping)

In fact, as of June, 75% of new home communities were offering some form of incentive on completed homes.

3. Are New Homes Lower Quality These Days?

Quality depends more on the builder than the year the home was built.Reputable builders use modern materials and methods that often exceed older construction standards. Before buying, research builder reviews, visit past projects, and ask your agent for insights on local builder reputations.

4. You Don’t Need an Agent for New Construction? Dangerous Myth.

New construction purchase contracts are different from standard resale agreements, with clauses that can favor the builder. Without an experienced agent, buyers risk missing important protections or negotiation opportunities.Surveys show buyers found their own agent far more helpful than the builder’s sales team in guiding them through the process.

Market Conditions Are Local

While these trends apply nationwide, real estate is always local.In the Chicago suburbs—especially in top-rated school districts—inventory remains tight and competition high. In these areas, new homes can sell just as quickly as resales.

Bottom Line

Don’t let outdated assumptions keep you from exploring new construction.Check whether there are options within your budget, explore negotiation opportunities, and evaluate the builder’s reputation with a trusted real estate professional.

📍 Chicago Realty – Sangchul Han

📱 773-717-2227

📧 ChicagoBDB@gmail.com