New. That’s the way to go, Nicole Liang realized after months of house hunting.
“The bidding wars, frantic tours and low supply made the decision to buy a new-construction home easy,” says Liang, who recently moved from downtown L.A. to Orchard Hills. “I didn’t want to settle on something I was just OK with.”
For Liang, the new-construction buying process was a sigh of relief. First, there are no bidding wars. Homes are priced and then made available to qualifying buyers under clear, binding terms.
A new-construction home is also customizable.
Specific lots can be chosen, and interiors – from flooring to appliances and even an extra bedroom or living area – can be designed during the sales process.
“I was able to select my ideal location,” Liang says. “I customized my home, and the sales team walked me through the purchase process without the pressure of competing against a throng of buyers. They even helped me with my move-in logistics.”
That’s the main difference between buying new and resale, according to Irvine Pacific’s Dave Christensen, who sold Liang her home in the Lago neighborhood.
“It’s our responsibility to make the process seamless for our buyers,” he says. “It’s rewarding to help a family find their dream home.”
Meanwhile, the competition for resale homes is projected to continue, due mostly to the historic lack of inventory.
The California Association of Realtors reports that listings have not been this low since 2004. Realtor.com data shows a 70% drop in for-sale homes since 2019.
That leads to the protracted home searches Liang avoided by purchasing new construction. “I am now settled in and enjoying the conveniences of Orchard Hills,” she says during a recent walk. “I’m surrounded by nature, but just down the street there’s shopping and restaurants.