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Stick to Your Home-Buying Budget by Avoiding Resale Bidding Wars

December 11, 2020

A couple speaking to their realtor in their home being built. Construction workers are speaking in the background.

Riverside Homebuilders has brought well-built, high-quality homes to the Dallas-Fort Worth area for several years. We know the benefits of buying a new-construction home are practically endless: improved energy efficiency, a new-home warranty, state-of-the-art smart home technology, community amenities and increased safety precautions—plus the ability to choose the perfect floor plan for your family. Homebuyers can also get peace-of-mind knowing exactly what they’re going to be paying for their new home. No surprise maintenance or costly renovations often associated with buying an older, used home—and no bidding wars.

If you’re looking to buy a home in the area, you’re aware of just how competitive the real estate market is right now. Even during a health pandemic that has affected nearly every industry and economy, competition has remained fierce thanks to record-low mortgage rates, a shortage of homes for sale and an influx of people looking to buy homes for more living space, indoors and outside. This high demand for homes often results in a bidding war, where multiple prospective buyers are competing for the same house. According to Redfin, 56.8% of home purchases in October were subject to bidding wars, making it the sixth straight month in which bidding-war rates reached over 50%. 

During these bidding wars, terms can get pretty crazy—from offers thousands above the asking price to paying in cash, it’s hard to find a home within your budget that will actually stay within your budget throughout the process. Used homes all over Texas (and the rest of the country) are selling in record times, often with dozens of showings and above-asking offers made within days of going on the market. But when you buy a new-construction home from Riverside, we’ll offer full transparency into the process so you know what to expect. 

We are committed to making homeowners happy and doing what’s right in the process. In addition to the buying and building guidance you’ll receive from our in-house team and your dedicated sales counselor, Riverside Homebuilders has formed strategic alliances with some of the area’s most trusted and aggressive lenders. Our preferred lenders can help you determine your budget and get approved prior to the construction process, so we can be sure that you’re getting the most bang for your buck.

Buyers aren’t the only people we help free form the burdens of bidding wars: realtors love working with new-construction builders, too. Realtors sometimes have to advise clients to skip important parts of a used home purchase (like the inspection) just to put their clients in a more favorable position to win the war. No one wants to advise their clients to pay more than market value for a property, nor do they want to do multiple rounds of paperwork and negotiations only to be outbid time and time again. We’re proud to work with realtors and their clients to find the best floor plan, community and finishes for their Riverside home. 

If you’re tired of losing the battle of bidding wars, it’s time to consider buying a new-construction home instead. As a family-owned business, we want to help you find a place to plant your roots on your terms, and within your budget. Riverside Homebuilders is constantly rethinking and reevaluating what homeowners want in today’s market, and we try our hardest every day to make the experience exciting, satisfying and easy for our customers. Whether you’re looking for a quick move-in option or are looking to build your home from the ground up, Call (817) 601-6230, text (254) 735-3033 or contact us online to get started.

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