With the Austin housing market still going strong, those looking to buy homes in the Austin area are competing for a relatively small housing stock, according to a recent Austin American Statesman article. Low housing supply is predicted to push home prices higher. Even so, with the job growth and high quality of life in Central Texas, the Austin area is attracting new residents at a surprising rate.
This week, the Austin Board of Realtors said the median home-sale price in the Austin-area hit a calendar-year record of $284,000, up 7.2 percent over 2016’s median¹.
New home construction is on the rise. Local expert Eldon Rude predicts builders this year will start construction on 14,000 to 14,500 homes — or 5 percent to 8 percent more than last year’s level¹.
New home buyers can arm themselves with the information that a thorough home inspection can uncover. Home inspectors identify any potential issues with a new home before closing, protecting the buyer from any unforeseen issues that may arise. If there are any problems with a new home construction they will be found during the inspection.
Some buyers will use a checklist to evaluate their home, which can be useful. A few of the most common issues with new home construction are landscape and drainage issues, faulty outlets and switches, HVAC issues, foundation settling, and roof leaks. The way that water drains and flows around the home and property can be an issue that may go undetected until a major flood event. Bumblebee Home Inspection has the training to detect these issues and others that may otherwise go unseen.
Most new homes come with very specific builder warranties that spell out what the builder is and is not responsible for. It’s important to read the fine print and know exactly what your builder’s responsibilities and timeframes are. Look for a contract that gives you the right to have a “punch list” of buyer-identified defects for the builder to remedy within a reasonable amount of time, warranties on structural and nonstructural work, and financial protections for the buyer’s down payment, should any problems arise².
New home inspections are priced by the square foot, and can often be completed within 72 hours by Bumblebee Home Inspection. Our thorough inspection comes with same-day, full-color reports with detailed information and helpful checklists.
Call Bumblebee Home Inspection now to schedule your home inspection 512-774-5094. View pricing and availability here.
1. Novak, Shonda. Experts see strong 2017 for Austin-area housing market. Austin-American Statesman. January 19, 2017. Link