Hey all, I wanted to share my experience knowing that it will be different for everyone depending on where you live.
My realtor and I were looking for houses for 6 months, my budget was in the low 4's. In California, 300-400k is a competitive price range. I was up every morning looking for listings and I had several areas in mind but after 6 months I only actually looked at 2 houses because the market has been so dry. I put an offer down but got beat out. It had already been 6 months and being in my early 30's I was losing hope in progressing my life with my own home, eventually a family, etc.
I looked into new construction. We have a few developments going on where I live, one is a really popular development where my sister currently lives, great for younger people, has a dog park, parks, event center, clubhouses, etc. So I looked into it and found the builder that suited my budget allowed me to pick the lot, floor plan, and options I wanted. I ended up pulling the trigger and I feel really good about it. The people I worked with were very straight forward, no salesman type behavior(I'm in sales myself), no competing against others, no over asking stuff, no waiving repairs, etc. All I had to do was put 2% down of the base price and it was mine.
My new home is going to end up being $30,000 less than the home I put an offer on. While this house is on a smaller lot, the house itself is 100 sq ft bigger, is brand new(30 yrs old on the other one), everybodys front yard looks great(hoa is only $125/mo), awesome new alive community where there is a lot to do without leaving.
I can tell there are a lot of people like me FLOCKING out there. I'm sure there will be ups and downs with the building process, but that stuff is normal to me as I am in construction myself and understand how it goes.
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source https://www.reddit.com/r/RealEstate/comments/14keabm/for_those_frustrated_with_the_pre_owned_market/
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