Rhode Island New Homes
Find new build homes for sale in Rhode Island. We specialise in pre-construction homes, new construction homes and inventory homes for sale in Rhode Island.
In Rhode Island there are 3 types of new build homes to purchase
Pre-construction Homes
Pre-construction homes are homes purchased off-plan, often before construction has started. Normally the land will have been selected, segregated / platted, licenses will have been issued and the community infrastructure will be in place. Pre-construction investors get the first choice of available properties and typically pick up the cheapest prices. Well-known developers building in popular areas may offer buyers the opportunity to put their names on a VIP list. Clients on the VIP lists will be notified ahead of the official launch and be able to ‘cherry-pick’ the best lots, floor plans and models at the lowest possible prices.
If the developer allows, then the investor can make a wide range of choices regarding finishes, floor plan layouts and colours. There is probably going to be no model home and investors will rely on architectural drawings, artists illustrations and graphics, to visualize the final design of the property. Buyers of pre-construction homes may have to wait 8-12 months to close on the property, often longer if the property is a high-rise.
New Construction Homes
New Construction homes are homes which have already been started by the developer. Prices can be marginally higher and the range of options to make changes may be significantly less depending on how much of the construction has been completed.
There should still be a range of lots to choose from as developers will often construct several properties at a time so they have inventory and show homes. Dependent on when you see a property in construction, you may be able to close on a property within a few months.
Inventory Homes
Inventory homes are homes which are completed but unsold. Some may be used as model homes, whilst other may remain vacant and simply awaiting a buyer. Modifications to inventory homes can be arranged with the developer but may mean negotiating a higher price.
Many developers withhold a few prime lots until the end of a phase and even the end of an entire project as this helps them close out on the community. A good realtor will be able to assist you in negotiating a better lot at a keen price. An inventory home is ready for you to furnish and move in to, so closing could only take a couple of weeks for cash buyers and those that have pre-arranged finance in place.
Search for new build homes by region
New homes in Rhode Island
Providence, Kent, Bristol, Newport, Washington
