Savvy Buyer: Trends in New Construction.

Now that real estate prices are marching upward again - the number of new construction homes has also been on the rise.   Wilmington and Reading have both seen upticks in the number of new housing starts.  In Reading, they are primarily by way of tear down & rebuild efforts in established neighborhoods. Prioces typically range from low $600's to high $800's in price.  In Wilmington, with more available land and more moderate land costs, new construction is often occuring on former farm land and ranges in price from mid- $400's to just over $600k.   

In furnishings and equipment these homes are like to feature the following....

- Gas cooking and heating via propane.  (No longer then poor step child of natural gas - newer efficient systems and all the same environamnetal benefirs have made the fuel very common in areas not served by pipelines.)

- Expansion potential.   Whether via large walk up attics or water tight basements with extra high ceilings these spaces are commonly found today and offer great storage as well as room for furture family use.

- Better cabinetry.  The "builder spec" kitchen and baths may still come from Home Depot - but at least now they include durable dovetail cabinets and solid wood doors and self close hinges.

- Energy efficiency upgrades.  Driven in a large part by tighter building codes we are seeing mostly 2 x 6 construction and, frequently, tankless on-demand water heaters.

- Tighter "Limited" builder warranties.  Many long time buuilders provide an unconditional 1 year "builder's warranty" while some speculative investors have taken the time to craft lengthy documents specifically outlining what is and is not covered.  It is very important to read the fine print!

Fortunately, many of the building products used come with their own warranties - which can often been seen on everything from the OSB flooring ans sheathing materials to the windows.  It's an exciting time for new construction buyers as well as their Buyer's Brokers.