Demand is extremely high right now for affordable new construction homes in cities and towns across the US, including in Cape Coral. While some people are attracted by the allure of new construction in a great location, there are other reasons why we’ve seen some big changes in the housing market, especially in places like Cape Coral. Search New Homes in Cape Coral
The ongoing pandemic is what led to quite a few of those changes, and we’re now beginning to see some of the results. After the pandemic, there was a real rush for prospective homebuyers to purchase homes in Cape Coral, which led to a virtual depletion in the inventory of existing homes. Some of those buyers came from out of state, as some of their jobs became remote and there was no longer a need to stay where they were. There’s no doubt the pandemic led to more and more prospective buyers showing an interest in new homes in Southwest Florida. While demand was up, though, there simply weren’t enough existing homes on the market to go around.
There’s also another issue that’s since come into play. Some people are seeking out affordable, new homes for sale in Cape Coral, Florida due to a big change in rental costs. Rent prices have jumped up substantially in Cape Coral and the rest of Southwest Florida recently, which means people who previously rented are now looking for a more affordable option, and perhaps a better long-term solution to their housing needs.
One of the other things we’re closely watching is an increase in interest rates. When the Fed first announced a round of interest rate hikes was likely coming, it led some buyers to start snapping up homes and properties while they could still get in on the lowest rates. Even though rates appear likely to rise even more, they’re still on the low side, historically. Even so, any increase in interest rates, and any threat they could be going even higher in the future, has certainly added a new dimension to the house hunting process, and a new demand for housing, especially in places like Cape Coral.
Post pandemic, the State of Florida, including Southwest Florida and Cape Coral, Florida, has seen a greater population of residents, creating even more demand on the housing market. There’s also the situation with more and more baby boomers seeking out retirement homes, and investors purchasing homes to rent out in this part of Florida. Those two things are only further fueling the demand for new homes, especially Cape Coral new homes for sale. The uniqueness of Cape Coral means hundreds of miles of canals. For buyers, it also means they’re at an advantage when it comes to finding waterfront new homes for sale.
The benefits of new construction in Cape Coral, Florida
While demand for housing is, no doubt, helping to drive new construction homes in Cape Coral, there are certainly plenty of advantages that come with purchasing new construction. When you purchase a new home, you’re able to have a bit more flexibility when it comes to getting what you want in a home. With an existing home, you’re somewhat limited by the existing layout. Sure, you can change a few things, and make some updates, but you may not get exactly what you want with an older home.
With a new construction home, you’re likely already getting an open floor plan with more room for flexibility. Many new construction homes these days come with space that can be used to create a home office, a den, or even an extra bedroom, depending on your needs. You will also get some of the latest features and finishes with a new home. You can always update an existing home, but that will probably mean spending extra money to make those updates. Many new construction homes these days already come with highly desirable features and finishes, such as granite or quartz countertops and stainless-steel appliances. Some of the Cape Coral new homes for sale may even give you the option of selecting some of the final finishes yourself, to truly make the home your own.
Cape Coral is still growing, and new homes for sale in Cape Coral, Florida are being built in some of the city’s most desirable locations. Many new neighborhoods sit close to nearby conveniences like area shops, restaurants, and grocery stores. This can be a real advantage for some homebuyers. You may also find that some of the newer neighborhoods also come with plenty of added community amenities, which is, of course, yet another advantage when it comes to finding new homes in Southwest Florida. Read more about retiring in Cape Coral Florida
Another benefit of a new construction home is that many of them are being built with some of the most current building codes and technology. Southwest Florida is a beautiful place to call home, but the area does sometimes deal with challenging weather. That’s why some new homes are being designed in a way to help them better stand up to the potential for high winds and damaging weather conditions.
One of the latest advantages buyers of new homes in Cape Coral and Southwest Florida are finding is the ability to also find a builder who uses ICF, or Insulated Concrete Forms, in construction. This is an extremely durable type of construction that not only makes a home more energy efficient, but it can also help a home stand up better to Mother Nature. While this is an especially good idea in terms of waterfront new homes for sale, ICF construction can be beneficial inland in Florida, as well.
If you’re thinking of buying a new construction home, you’ll want to find a quality builder and a quality realtor. Scott Meadows has 30 years of experience and knowledge when it comes to today’s new construction homes in Cape Coral and Southwest Florida. Buying a home is a big investment, so it’s important to have a knowledgeable professional on your side. When it comes to new homes for sale in Cape Coral, Florida, lean on the experience and expertise of Scott Meadows.