26 Aug How New Homes Can Overcome The Foreclosure Market
In a market flooded with REO homes it is hard to convince a first time home buyer that buying a new home is the right choice. With so many discounts, it’s hard for buyers to really consider newly built homes. The good news for builders is that new homes can offer things that older ones just can’t.
I recently read an article titled “9 Reason to Choose a New Home Over a Resale” and it pointed out the distinct advantages of buying a new home. For builders and developers, these 9 points are the things that can win you the first time homebuyer who might be on the fence about buying new or getting a good deal on a foreclosure.
Most of the 9 points are nothing we haven’t seen before but its good to be reminded especially during this tough time. They include a reference to energy efficiency in regards to building envelopes and appliances that promote energy savings. It also mentions the customization options that most builders are giving buyers in today’s market. All of this added with better financing options make buying a new, energy efficient home pretty desirable.
Even though this article was written for buyers, as builders and marketers, we can use this information to understand what buyers will be looking for. Most of us understand what benefits buyers are looking for without reading this article but it’s important that these benefits are strongly communicated. We in the industry “get it” but does your consumer? Incorporating all of these incentives means nothing if buyers aren’t aware of them. There is little doubt that most developers know that energy efficiency and customization are big selling points in the new home market. Where everyone is coming up short is with his or her messages. All 9 points from this article can be incorporated into a cohesive marketing plan. Building these homes is not enough. We must be able to communicate these features in order to convince buyers that buying new in a troubled market is a solid investment.