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Homeowners will have more choices as new construction projects increase

February 17, 2010 - Individuals who are considering purchasing new real estate may soon have increased options as more construction projects are initiated throughout the country.

The New York Times reports that construction on single-family homes rose 1.5 percent last month to an annual rate of 484,000 units after dropping 3 percent in December. Renters will also have more new developments to choose from, as construction of multifamily homes rose 9.2 percent in January following a 12.6 percent increase from the month before.

Newly built homes may be particularly suitable for individuals who are wary about moving, as they will know that they are the first occupants to live in these homes. In addition, these renters and homeowners may find solace in the fact that their residences have been recently inspected.

However, prospective buyers and tenants may want to have their new homes checked again to ensure that post-construction damage has not occurred and that previous appraisers did not miss anything.

Because many builders are answering the demand for energy-efficient homes, many new developments are expected to feature green appliances that could save occupants money in their utility bills.

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