The tendency for many homebuyers is to think that new homes are out of their price range. But this isn’t necessarily true as the median price for an existing home in July was $422,600 and a new home was $429,800.
Moreover, new homes often come with warranties to cover repair costs and are more likely to be energy efficient.
Below are areas where the median price for new construction is considerably less than the national average:
- Talladega, AL – $223,990
- Opelousas, LA – $235,000
- Stillwater, OK – $239,827
- Kinston, NC – $247,500
- Jonesboro, AR – $255,555
- Florence, SC – $256,990
- Lubbock, TX – $261,000
- Joplin, MO – $269,823
- Albany, GA – $269,900
- Terre Haute, IN – $275,000