Is Year-end a Good Time to Buy a Home in Delaware?

is year end a great time to buy a new homeIs it a good idea to buy a new home this time of year?

Many of our real estate clients want to know if the fall is a good time of year to buy a new home in Delaware. So many of our buyer clients are moving to Delaware from somewhere else, it is a question we hear often.

The answer can often depend on your life cycle stage. When people are raising families, the best time of year to buy a new home tends to be before the next school season. But for empty nesters or retirees, the best time to buy or sell is not as seasonal.

But what do the builders say? I decided to ask some of our local home builders if this is a good time to buy a new to-be-built home or even a Quick Delivery new home in this area. One of the salespeople from the NVHomes Coastal Division came to our Sales Meeting last week with an update on her community, Coastal Club, in Lewes, Delaware. She announced that right now she has added incentives that include $6,000 toward closing costs as well as $5,000 to cover the cost of membership in the Clubhouse. That plus some new models and great base model pricing through the end of the year make a compelling case for purchasing a home in the fall.

The Delaware Sales Manager for K. Hovnanian Homes had this to say –
“We have experienced consistent sales throughout our communities during the offseason.  The fall/winter market gives prospective buyers an opportunity to experience what it is like to live in Delaware throughout the year.  Sussex County, more specifically Lewes and Rehoboth, is becoming more of a year-round destination as more and more people retire full time.  Typically, builders are creative with their incentives to entice prospects to purchase during the holiday season. In many communities, the construction time could be as long as 6 months or even more depending on the number of new to-be-built homes in the queue. So, for people who want to be in their new home by summer, it makes sense to go to contract during the offseason. You would be surprised just how busy we are over the holidays.”

The Sales Manager at Beazer Homes agrees that now is a good time to buy because interest rates are still low, construction costs are also low, so buying now will lock in better pricing.  The added benefit of buying a new construction home now is that your new home will be ready to enjoy by Spring of next year. So, if you build now, you don’t have to carry costs all winter if it’s a 2nd home.  She adds, “Everyone is doing it!! Life is short, buy the beach house!”

Continue to watch our website for new communities in the Delaware area that will be coming online. And be sure get in touch with the Active Adults Realty team to find out about the great year-end incentives home builders are offering. If you are ready to make your move this season whether to buy new construction or a resale home,  give us a call today!

2 thoughts on “Is Year-end a Good Time to Buy a Home in Delaware?

  1. Kathy,
    My husband and I were looking at homes in Delaware 55+ communities a few years ago. I noticed how much more expensive it is now to buy. What has happened?

  2. Hi Donna, I remember you! So, back in 2011, the real estate market was just beginning to recover from the worst market in my real estate lifetime. Back then, there was some inventory of homes for sale but now the communities you were looking at are sold out. Today, we have a very low inventory of homes for sale and the cost of land and materials have both gone up. Delaware has been a very healthy market for several years now and even homes in New Jersey are selling from what I hear. We do still have communities at different price points, however, so please get back in touch.

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