New Home Buyer Guide The Price Is Not the Payment What smart buyers should know before ruling out a brand-new home. Most home buyers start their search by looking at one number: the price. But the price of a home is not always the same thing as the payment. A lower list price may look better online, but once you factor in interest rate, closing costs, repairs, maintenance, warranties, and possible builder incentives, the “better deal” may not be as obvious as it first appears. Before you rule out new construction based on price alone, it is worth looking at the full picture. Why the List Price Does Not Tell the Whole Story A home’s list price is only one piece of the affordability puzzle. Your actual cost can be affected by your loan type, interest rate, property taxes, homeowners insurance, closing costs, down payment, and how much money the home may need after closing. That is why two homes wit...
