🏠 Homebuyer news: New-build homes are on the rise

Here’s what you need to know this week ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ [Better] [Better]( Newsletter Apr 29, 2022 XXX [Chart: Percentage of New Build Homes on the Market](XXX) At the beginning of 2022, [more than 1 in 3 homes]( for sale were new construction, the highest share on record! While a new-build home might come [at a premium]( this year, minimal maintenance costs for the first year or two may offset some of the initial costs. [See your budget with Better Mortgage]( [New-build buyer beware](XXX) Of all new-construction home buyers, [92%]( said the process was more expensive than anticipated, and [66%]( admitted to having regrets about the purchase. [What the experts are saying:](XXX) “ Builders will look for verified pre-approval letters so that they’re confident that the borrower will be able to pay once the home is completed. ” Byron McCray, Better Mortgage Senior Home Advisor Better Mortgage [cuts out the middlemen and works with a multitude of partners]( in order to provide low rates. [Advice for new-builds:](XXX) 💸 Expect to pay for upgrades. They’ll likely cost 20–25% of the base cost of the new home. 🚗 Take a real estate agent to meetings with the developer, you want an expert on your side to protect your interests. 🏠Invest in a home warranty to protect your home for years before you need to do any major repairs. [See your rates with Better Mortgage]( [More homebuying help](XXX) 🏗 [Buying a new construction home]( 🏠[How Mateo and Ale bought a new-build home]( with Better Mortgage 🔎 [A realtor's guide on finding the perfect home]( Questions? Let us know hello@better.com [415.523.8837](tel:1415-523-8837) 1 Source data: [Redfin]( This newsletter does not constitute an endorsement or recommendation of Better Mortgage Corporation; Better Real Estate, LLC; Better Cover, LLC; Better Settlement Services, LLC; or their services. Better Cover is solely responsible for homeowners insurance services. Better Mortgage is solely responsible for making all credit and lending decisions with respect to mortgage loans. [Better] [Better] [social]( [social]( [social]( [social]( © 2022 Better Holdco, Inc. and/or its affiliates. Better is a family of companies. Better Mortgage Corporation provides home loans; Better Real Estate, LLC provides real estate services; Better Cover, LLC provides homeowners insurance policies; and Better Settlement Services provides title insurance services. All rights reserved. Home lending products offered by Better Mortgage Corporation. Better Mortgage Corporation is a direct lender. 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