How to Buy Richmond Real Estate

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When considering a selling your existing home and moving there are several key factors to consider in the equation. In this post we will evaluate one key component to successfully navigate and purchase Richmond new homes.

In the world of Richmond real estate there are only two main groups of homes. The two groups are composed of new homes, where no one has ever lived before; and used homes, where someone has lived before. Seems basic enough, right? The challenge is filtering through these two groups. One will find there is plenty of room for conversation and error.

The first area to consider when discerning between new vs. used is simple: Am I willing to accept a home that has idiosyncrasies, used elements and maintenance needs, or  would settling for anything other than a new home be compromise? This question needs to be addressed first and foremost in a logical way. For example:

What is the availability of new homes and used homes as represented in today’s market?

New home supply is low though Boone Homes is still building quality homes. We generally have three showcase homes ready for occupancy in each community of luxury homes in Richmond. If you can’t find a home you like, we can build your dream home in one of our luxury new home communities and finish it to your liking in 6 months or less. The latest construction technology is built into each home, including data wiring, ENERGY STAR® Construction Technology, structural components and more. A luxury home built in Richmond carries a distinctive name when it is built by Boone Homes.

Used homes are in high supply in the Richmond real estate market.Foreclosures, short sales and regular re-sales are all in the used home category. Condition, location and technology all play into a used home, though mainly from the vantage of yesterday’s technology. Used features like jetted tubs, carpet and toilets are all previously experienced.  Energy consumption is generally 38% higher than in a new ENERGY STAR® home.

Supply and demand play in to pricing. More used homes equal a great price. Fewer new homes create a stable supply at fair and quality pricing. Before you settle, take a chance on visiting a Richmond new home community. We believe you will be surprised.

See for yourself why so many Boone Homes homeowners return for their second or third Boone Home. For a personalized tour of a new Boone Home community, call Chris at 804.218.7760.