Why are new homes often cheaper than resale homes?
Builders can pay to lower your rate and pay your closing costs. A family selling their own home usually cannot. So a new home can cost less each month, even at a similar price.
By Nick GutheryOwner & CEOUpdated Florida & Georgia
Builders have to keep selling to keep their crews busy. So they spend money to get homes sold, often through their own lender. A buyer's rate and closing costs are where that money usually goes.
A new home can also save money after you move in. Insurance is often lower on a new roof built to today's code, and you are not paying to fix an old water heater or air conditioner.
You are free to use any lender, so compare the builder's offer with another lender's.