Would you buy a used toilet seat? Probably not. Yet 7 million Americans purchase approximately 14 million of them every year when they buy an existing home.
That point was aptly made by Tim Costello, CEO of New Home Technologies, during the keynote presentation at the TecHome Builder Expo in May. He encourages builders to sell the benefits of new homes with prospects. "New homes provide a vastly superior experience in many ways ... better communities, floorplans as to how we live and work, more energy efficiency, etc.," he says.
He's right about the toilet seats thing, too. Last year, there were 8.2 million homes sold ... only 1.2 million of them were new, while 7 million of them were 'used.' If each of those homes has two bathrooms, that's 14 million used toilet seats that were purchased. It's reflective of the fact that the homebuilding industry has not done a good enough job communicating to prospective buyers the benefits of new-home ownership versus existing homes. For one thing, everything is new.
Are you pointing out the benefits of a new home versus an existing home, or do you spend time and energy trying to compare your new homes with other newly-built homes in the area?
On the Lennar Web site, the company has an informative section called, "Why Buy New." I urge you to check it out. Highlights of the advantages of new homes on the Web site are:
State-of-the-art appliances -- The difference between today's appliances and those of yesteryear are immeasurable.
Technology -- Many new homes are wired to support digital home theater systems, high-speed Internet access, multiple telephone lines, alarm systems, time controlled sprinkler systems and many other convenient features ... all of which may be included into the mortgage.
Customer Care -- With a pre-owned home, it may be difficult to tell the quality of components that are behind the walls or the quality of maintenance that occurred over the years by the previous owner.
Energy Efficiency -- New homes often consume much less energy than pre-owned homes due to energy-efficient features, such as high grades of insulation in the walls and ceilings; double-paned, thermal-insulated or tinted windows; and advanced heating and cooling.
Health and Safety -- Lead and asbestos, which can cause illnesses, including physical and mental problems and respiratory diseases, have now been eliminated or greatly reduced in new homes.
Modern Designs and Features -- Homes today include open kitchens and family rooms, home offices, private master retreats, media rooms, oversized garages large enough for SUVs and trucks, granite or solid-core surface kitchen countertops, whirlpool tubs, stainless-steel appliances, glass block windows, remote-control fireplaces, and an array of designer flooring.
One great way to get a jump on this selling technique is to use high-quality vendors and home-integration subcontractors. This 2006 TecHome Builder Buyer's Guide offers you more than 800 company listings with contact information and 50-plus product categories in software, home technology and connected communities.
So use these vendors to help you make a strong case for new vs. old before you start selling against your competitors.
What are you doing?