10 Reasons First-Time Home Buyers in Chandler, AZ should consider buying a new home

10 reasons first-time home buyers in Chandler, AZ should consider buying a new home.

First-time home buyers are finding more and more reasons not to buy bank-owned and short-sale properties. If you are a first-time homebuyer in Chandler, here are reasons 1 through 8 why you might want to consider purchasing a new home from a builder:

1. Many bank-owned and short-sale properties have things to clean, repair, and buy. There are things like missing cabinets, fixtures, and appliances, not to mention bad plumbing and electrical, holes in walls, stained carpeting, and painting of both the interior and exterior. And those are just the things you can see!
2. There is usually an extended period of time required to buy short-sale properties, which could take up to 6 months or more. Even then, a home could fall into foreclosure, as there are many uncertainties when dealing with sellers and banks.
3. You are eligible for the $8,000 federal tax credit, which has been extended through April 30th, with a closing needed before June 30, 2010.
4. You can take advantage of the three year decline in valley home prices, and still very low interest rates. Home prices are as low as they were back in 2002.
5. You have a large inventory of new and speculative homes left over from all the new home construction between 2003 and 2005.
6. You do not have to sell an existing home.
7. You can buy a more energy efficient home, with better windows, insulation, and newer A/C units and water heaters. Your monthly utility costs will also be less.
8. Buying new, you can take full advantage of all new home warranties from the builders.

Reasons number 9 and 10, are extra incentives coming directly from the builders themselves:

9. Some new home builders have reduced their prices even more by adjusting some of their standard features.
10. New home builders are also taking advantage of this by focusing their attention on the lower end of the housing market. According to Greg Burger, and associate with RL Brown on the Phoenix Housing Market Letter, out of 4,025 new home floor plans in active subdivisions, nearly two-thirds of them are for homes priced under $250,000. Some new home subdivisions have entry level homes starting as low as $80,000.

Statistics are showing that in some newer subdivisions, first-time home buyers make up as much as 90 percent of the buyers of new homes. Now I have shown you 10 great reasons for first-time home buyers in Chandler, AZ to consider buying a new build. Just don't forget to take a Realtor with you!