New construction is booming in Central Ohio. Home builders had an excellent year, but sales traditionally slow down over the winter. To keep the momentum going, builders offer their best discounts in December.
1. Discounts on Upgrades
The most popular buyer incentives are free or discounted upgrades. This makes a lot of sense as the basic version of most homes is truly “bare bones”. That’s why buyers sometimes spend an extra 25% on top of the base price on upgrades.
Some builders offer 50% discounts on certain upgrades up to a limit of $25,000. Others give you $5,000 of free options such as appliances.
2. Interest Rate Buy Downs
A buy down on your interest rate reduces your monthly mortgage payment. On a $300,000 loan a 1% discount would lower your monthly payment by $186 for a total savings of more than $22,000 over 10 years.
3. Inventory Homes
Most builders end up with ready to move-in homes because some purchases never close or they simply built a spec home to keep their crewsbusy. At the end of the year you will find huge discounts on inventory homes as builders want to get them off their books and free up cash for new projects.
Specific Incentives by Popular Builders
Epcon Communities offers great incentives at The Courtyards at Muirfield Ridge and The Courtyards at Price Farms. Both communities have half off options, which is up to a $25,000 savings. At The Courtyards at Jerome Village you can get $5,000 off options if you build on one of their remaining 6 lots.
Fischer Homes announced an interest buy down to 4%. This is approximately 1% less than the standard rate you’d have to pay on a home purchase.
M/I Homes just emailed 6 pages of “market homes”in new subdivisions throughout Central Ohio with price reductions of $30,000 or more. M/I also offers great incentives for the build to order homes with 50%off upgrades up to maximum allowable amount based on the community.
Pulte Homes announced discounts of up to 20% off options to personalize your home if you build in Autumn Rose Woods before the end of the year.
If you are planning on building or buying in 2019, call or text me at (614) 975-9650 so you don’t miss out on YEAR END DISCOUNTS!
Susanne Novak has been a Realtor since 2007. She is the broker and owner of RE/MAX 24/7 in the Dublin Historic District. Susanne typically helps 50-60 families each year with their real estate needs. She's your trusted advisor when you search for your dream home, and a skilled negotiator when she lists your property to get top dollar when you sell.