Indianapolis New Homes - Buying Advice

Unlike other parts of the country and years past, it is NOT wise from an investment point of view to be one of the first people to buy in a new home neighborhood in Indianapolis.  As a matter of fact, you could really end paying up the price if the builder is not meeting their initial rosy projections and start offering crazy incentives to move houses.  Indianapolis new home builders are renowned for offering things like: free basements, free sunrooms, free granite, etc. 

The reason I was thinking about this was because I am working with a client who is looking at the Hansen and Horn neighborhood in Greenwood Smokey Row.  Their sales have not been what they expected and they have decided not to build in the second section of this development.  Since they have made this decision, they are now anxious to get out of this neighborhood. 

Now that they want to get out they have slashed the prices and are offering more incentives.  For example, the base price of the homes in Hansen and Horn’s Smokey Row has not gone up but they now include a full finished basement.  If you do want the basement they will credit you for not taking that option.  In addition, they are also offering free granite in the kitchen for the month of July.

This is just one example of how you could actually be penalized for being one of the first homeowners in a neighborhood.  It used to be that you would get the best pricing during “pre-construction” and you could count on making $50,000 - $75,000 once the builder is out of the neighborhood.  THOSE DAYS ARE OVER.  It is much wiser to wait and buy on the tail end when the builder is looking to get out of the neighborhood.          

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