Real Estate Today Buying a New Construction House
Aug 22, 2025
Join REALTOR® Jacob Smith, an expert in Northwest Vermont's new home market, and Danushka Nanayakkara from the National Association of Home Builders. They discuss whether now is a good time to buy a new construction home amidst rising prices. Key topics include budgeting, homebuilder incentives, and the differences between production and custom builders. They also tackle the complexities and emotional aspects of the home-building process, and even debate if mirrored furniture is still in vogue!
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New Homes Near Price Parity
- New home prices are now much closer to existing home prices than historically seen, narrowing the premium to about 8% nationally.
- That shift makes new construction worth reconsidering for many buyers who previously ruled it out.
Do An Apples-To-Apples Market Analysis
- Do a thorough market analysis with a local real estate professional before choosing new vs. existing to ensure apples-to-apples comparisons.
- Factor location, budget, and renovation costs on older homes to see the true value of new construction.
Timelines Vary By Build Type
- Build timelines vary widely: production builds often take 7–8 months, heavy workload can push to 10–12 months, and custom builds may take years.
- Spec or inventory homes let buyers move in much faster, sometimes under 40 days.