Buying Brand New: Spring 2025

·25 min·2 clips

Gonzalo Mejia reveals how buying new construction helped him avoid cash buyers and multiple offers in a tight market.

This episode of Real Estate Today, hosted by Stephen Gaskway, focuses on the process and considerations for purchasing a brand-new home or building one from scratch. The show features insights from real estate professionals Gonzalo Mejia and Christine Richardson, along with design trends from Melissa Dittman-Tracy and news from Bill Thompson. Gonzalo Mejia is a realtor and instructor for a new home construction course, while Christine Richardson specializes in guiding clients through new home purchases in Northern Virginia. Bill Thompson reports that the chairman of the National Association of Home Builders, Buddy Hughes, testified to Congress that government regulation constitutes nearly 25% of a new home's cost. Thompson also shares National Association of Realtors data showing baby boomers, ages 60 to 78, accounted for 42% of home sales in the past year. Gonzalo Mejia explains that choosing new construction can be a strategy to avoid competitive multiple-offer situations in the existing home market. He states a brand-new home in a similar location will typically be more expensive than an existing one, partly due to builder warranties like a 10-year structural warranty. Mejia recommends a home inspection just before the builder's one-year comprehensive warranty expires to identify any issues. Melissa Dittman-Tracy reveals that dark wood vanities are now "hot," having overtaken white in bathroom cabinetry according to Houzz reports, with materials like hickory and teak being popular. She states that having a bathtub in the owner's suite is currently "not" a priority, as over 50% of recent remodelers removed their tub or never had one. Christine Richardson notes some buyers insist on new construction because they do not want previous occupants' wear, tear, or design choices. She describes two types of new construction: builder spec homes and custom homes built on infill lots, which are common in areas like Arlington, Virginia. Richardson explains builders often offer incentives, like $10,000 toward closing costs, for using their preferred lender and title company. She identifies the kitchen as the most critical area for buyers, highlighting trends like waterfall countertops on islands. Richardson strongly advises bringing your own realtor to the first model home visit, as builder contracts are custom-drafted to protect the builder's interests. Melissa Dittman-Tracy's special report from Design and Construction Week notes nearly 60% of builders are using sales incentives, and about a quarter have reduced home prices by an average of 5%. She adds that builders are increasing spec home inventory to offer more immediate move-in options. Dittman-Tracy states the top remodeling areas are kitchens, bathrooms, and outdoor spaces, with specific trends like quartz countertops and large-format shower tiles. The episode concludes with a preview of next week's topic about buying a condo. The tone is educational and conversational, blending expert interviews, market news, and design trends into a practical guide. This episode is ideal for prospective homebuyers considering new construction, real estate professionals, and anyone interested in current housing market dynamics and design trends. Listeners seeking deep investigative reporting or debates on housing policy might find the content too introductory and industry-focused.

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