We’ll weigh the pros and cons at the end, but let’s start with an overview of the steps involved in the new construction home buying process. Step-by-step guide to the new construction home buying process By the time you’ve finished reading, you’ll have a better understanding of the ins and outs of buying brand new and whether or not this is something you’d like to pursue. In this guide, we’ll help your weigh the pros and cons and walk you through the new construction homebuying process.

For example, the cooler market of early 2023 meant fewer housing starts compared to a year earlier, when the market was red hot. New housing construction tends to rise during strong real estate markets, and declines as the market declines. How easy it is to find a new construction home to purchase also depends on the market. The average cost of building a new house can range between $109,312 and $458,548 (not including the cost of the underlying land), and it could save you up to 15% in comparison to buying an existing home - but what do you know about the new construction homebuying process? Have you weighed all the pros and cons of buying new? Are you even sure new construction is right for you?