Here are three ways homebuyers can take advantage of builder promotions.

If you're interested in building a new home but concerned about rising costs and interest rates, I have a solution: taking advantage of builder promotions. As prices and interest rates have increased, builders have started offering promotions to keep the sales cycle moving. These promotions often revolve around a fixed dollar amount, like a $25,000 promotion. Here are three ways you, as a new home buyer, can benefit from such promotions:

1. Upgrades. You can use the promotional money for upgrades, such as better kitchen cabinets, countertops, adding a fireplace, or enhancing the property's appearance with brick or stacked stone.

“Choosing the right builder and lender are both important factors in this process.”

2. Seller concessions. Another option is utilizing seller concessions to reduce the amount you need to bring to the closing table, ultimately saving on closing costs.

3. Interest rate buy-down. In today's market, one of the most powerful ways to use the promotion is to buy down your interest rate. With a $25,000 promotion, you may be able to mix and match these options or focus on one, depending on your needs. Keep in mind that not all banks offer the same opportunities for interest rate buy-downs, so choosing the right lender is crucial.

Choosing the right builder and lender are both important factors in this process. If you're determined to turn your dream of building a new home into a reality, my team and I are here to assist. We can help you select the ideal community, builder, and financing options tailored to your individual requirements. Give us a call or send an email; we'd love to assist you.