New Construction in 2022

New Construction has always been a popular choice for homebuyers – after all what is better than everything being brand new, not having to worry about making updates for years to come and maybe even getting to make some selections on the colors and finished?  However because of the high value of land in Central NJ it has been quite some time since large scale developments have been built that have entry to mid-level price range homes.  Most new construction developments have been either 55+ adult communities or luxury homes at the top end of the price range leaving buyers looking for more modest new homes to hope for the one-offs where a a single vacant lot exists in an older neighborhood or a home is torn down and a new one built.

High land costs, soaring material costs and increased labor costs over the last 2 years have contributed to higher prices for new construction.  It is not all bad for homebuyers though.  One trend I have noticed in recent years is that new home builders have elevated the quality of the product that they deliver. While some builders still keep it basic, for the most part the days of closing on a new home and immediately having to replace the builder’s grade light fixtures and cheap carpet are gone.  We are finding more features included even at the entry level of new homes such as hardwood flooring, Quartz counters and bathrooms that don’t look like someone just said “give me the cheapest vanity and the most plain tile you have”.  Other common improvements are using maintenance free Trex or similar material for front porches instead of standard pressure treated wood.

The open floor plan still seems to be a trend in new home designs with 9′ + ceilings remaining popular as well.  The McMansions of the 1990s and early 2000s had 2nd floors that were consumed with massive primary bedroom suites and the additional bedrooms were often petite to put it kindly. Lately I am seeing buying preferring new homes where the primary bedroom is still ample sized but more of the square footage is allocated toward beefing up the other 2 or 3 bedrooms.