Henri Frank Group Remax Preferred | Fort Lauderdale Realtors Real Estate
New Construction Single Family Homes, Condominiums and Townhomes in South Florida
Do potential homebuyers favor purchasing new homes over older properties? BHI Inc.conducted a study which analyzed consumers’ first choice regarding shopping for newly constructed properties over older homes. This study examined 984 potential home buyers who have intentions of investing in a home within 2013.
The survey uncovered that potential home buyers favor older homes instead of newly constructed homes but will still contemplate the idea of purchasing a new home for sale by a builder. 75% of potential home buyers surveyed indicated that they are considering making offers on an existing property and 20% of buyers prefer to buy a brand new home. 5% of prospective buyers surveyed indicated that they had no opinion on the subject and didn’t mind if the home was newly built or not.
For the potential buyers surveyed who indicated that they would rather buy an existing property over a newly built home, some of the crucial aspect of the property are lot sizes, coterie, and well-kept landscaping that many of these properties often offer. Many believe that settled communities are more inviting, offer better home design, and more security.
The Henri Frank Group at RE/MAX Preferred has different information from its buyers in the South Florida real estate market, including Miami, Fort Lauderdale, Wilton Manors, Boca Raton and Hillsboro Shores in Broward County. More than half of our buyers would like to purchase brand new constructed homes, but the inventory falls short. There are single family home projects for sale by Lennar Homes, Minto Homes, Centerline Homes and others. There are even more new construction projects of high rise buildings of condominiums. Many of the buyers of the Henri Frank Group want to purchase single family homes.
The latest Fort Lauderdale project east of I95, The Georgians by Centerline are SOLD OUT. There are townhomes west of I95 by Lennar Homes, Oakland Park Isles has availabilities, however the location is not nearly as favorable for most buyers, as they want east of I95. The demand for new construction single family homes is east of I95. This is key to the study conducted by BHI Inc. I believe the demand for new construction, the attitudes to buy new construction is regional within the USA. Broward County of South Florida where the we sell more than 50% of our total yearly sales, east of I95, those buyers prefer new construction versus older homes.
Another main reason for the new homes is our insurance requirements here in South Florida. Lenders allowing homeowners to borrow and obtain a mortgage will pass along a discount to newly constructed homes or those homes that are upgraded with windows and doors, newer roofs, newer electric and plumbing. Another reason for the homebuyers in our region of the USA to want new contruction.
Potential homebuyers who shared that they prefer newly built homes were generally interested in issues such as energy efficiency, lower management costs, and adaptability. Many prospective buyers indicated that they prefer newly constructed homes as they tend to provide more living space even if you have to sacrifice lot or yard size.
From the BHI, Inc. website, “Baker Hughes Incorporated is headquartered in Austin, Texas, Builder Homesite, Inc. (BHI) was founded with the mission to bring homebuilding industry leaders together to develop world class technology solutions. BHI was formed in 2000 as a consortium of 32 of the nation’s largest homebuilders. Our flagship product is NewHomeSource.com, a consumer website featuring the Internet’s most comprehensive selection of new homes.
The success of NewHomeSource.com demonstrates that the combined knowledge and experience of a consortium of industry leaders creates better solutions. In 2003, BHI founded New Home Technologies, a subsidiary consortium of new home builders and product suppliers, to create Envision, an fully-integrated and standardized online design options management portal. Today, BHI continues to create products that satisfy the needs of the industry and help move it forward, from video production to banner advertising to Realtor services.”
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