According to the U.S. Census Bureau, Florida boasts over 8.9 million households.
Best of all, new homes are being built all the time. Buying off the plan is a great opportunity to secure a modern, customizable home in a wonderful location. Still, this type of purchase also comes with certain considerations.
Understanding the process and what to expect from new construction homes can make all the difference. Read on to learn more.
Why Buy Off Plan in Lakeland, FL?
Lakeland is a city that has become increasingly popular for its charm, affordability, and convenient location between Tampa and Orlando. The new construction market here offers a variety of homes designed to meet modern standards.
Buying off the plan in Lakeland, FL, allows buyers to enjoy the following:
- Customization options
- Energy-efficient features
- Thoughtfully planned communities
Many of these homes are located near schools, parks, and other amenities that enhance the quality of life for residents. Beyond these advantages, purchasing early in development can often provide financial benefits such as pre-construction pricing.
Researching the Developer
Do you want more new home buying tips? Take the time to review a builder's previous projects. Look for completed homes in other developments and get feedback from past buyers.
A reliable developer will be transparent and committed to delivering a home that matches your expectations.
Taking Stock of the Contract
Purchasing a home off the plan involves a complex legal agreement that outlines the following:
- Payment schedules
- Deadlines
- Allowances for final design changes
Consulting with a Lakeland real estate guide or a property attorney can help you understand the terms.
Financing for Construction Homes for Sale
Financing a new construction home is another potential hurdle. The payment structure for buying off the plan calls for a deposit during the construction phase. The remaining balance is often due upon completion.
It's wise to work with a mortgage specialist who understands Lakeland property investment.
Buyers should also be aware that the advertised base price may not include everything. Many new construction homes offer upgrades and customizations for features such as:
- Countertops
- Flooring
- Appliances
A breakdown will prevent surprises down the line and help you plan your budget.
Lakeland Real Estate Is a Smart Investment
For those considering Lakeland as an investment opportunity, the city offers several benefits. Its growing population and strong economy make it an attractive market for real estate.
New construction homes, in particular, are appealing to both homeowners and renters due to their modern features and energy-efficient designs. Whether you plan to live in the home or use it as part of a property portfolio, Lakeland's real estate market provides excellent potential for long-term value.
It's Time to Enjoy New Construction Homes
With new construction homes, you can have the perfect place to relax, raise a family, and more.
PMI Arrico Realty specializes in Lakeland property. Our team can help you get the most out of each home investment.
Have you thought about renting out your property? Don't wait to claim your free rental analysis today!
