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Ever wish buying a home came with a little bonus? Well, right now, it just might. In today’s market—especially in areas where more homes are hitting the market—buyers have more power than they’ve had in years. That means sellers and builders are handing out some pretty sweet perks to seal the deal.
Let’s break down what that means for you (and your wallet).
What Are Concessions and Incentives, Anyway?
Think of concessions and incentives like bonuses in a job offer—extras that make the deal even better. A concession is something a seller agrees to do or pay for to help move the sale forward (like covering your closing costs). An incentive is more like an upfront offer designed to make the home more attractive from the jump—think upgraded appliances or a home warranty.
Here are a few common ones we’re seeing right now:
- 💰 Seller-paid closing costs
- 📉 Mortgage rate buy-downs
- 🧾 Price discounts
- 🛠️ Free repairs or upgrades
- 🔧 Home warranties
- 🧊 Included appliances
If you’re buying on a budget (who isn’t?), these extras can make a huge difference. Some of them can shave thousands off your upfront costs.
Builders Are Handing Out Deals Left and Right
If you’re eyeing a brand-new home, this might be your moment. Builders do not want their inventory sitting around collecting dust, so they’re getting aggressive with their offers. According to Zonda, incentives were offered on over half of new homes in March, and a whopping 74% of quick move-in homes had perks attached.
Some builders are even lowering prices outright. Around 30% of builders dropped prices in each of the first four months of the year. That doesn’t mean the market’s crashing—far from it. It just means builders want to move inventory fast, and that puts you in the driver’s seat.
Resale Sellers Are Joining In Too
It’s not just new homes with perks—resale sellers are jumping on the bandwagon too. With more homes hitting the market, sellers are feeling the pressure. In March alone, 44% of existing home sellers offered concessions to buyers.
These may not always show up as big discounts. Sometimes it’s a seller offering to cover your closing costs, leave behind that stainless steel fridge, or make repairs before you move in. And with home values still way up from five years ago, sellers can afford to give a little while still walking away with a win.
Buyers, This Is Your Window of Opportunity
If you’ve been on the fence about buying—now’s the time to act smart. Whether you’re drawn to new construction or a classic resale, chances are good that you’ll score some kind of concession or incentive that makes your life (and your budget) easier.
The key? Work with a pro who knows how to negotiate these extras for you. We know what’s on the table and how to help you walk away with the best possible deal.
There’s never been a better time to be a savvy buyer. With sellers and builders eager to close deals, you’ve got leverage—use it! From rate buy-downs to closing cost credits, these extras could be the difference between settling and getting exactly what you want.
📞 Call or text us at 855-935-MORE to explore homes where incentives are already on the table.
We’ll help you find the deals and negotiate even more value.