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Here's the Average Mortgage for a Newly Built Home. Can You Swing It?

·3 min read
Here's the Average Mortgage for a Newly Built Home. Can You Swing It?

There are plenty of benefits to buying new construction, like the chance to customize a home to your specifications and enjoy a never-used space that shows no signs of wear and tear. The prices of those materials have also skyrocketed as a result of supply chain issues and shortages, and those costs are, not shockingly, being passed along to buyers. The price of new construction has gotten so high that the average mortgage amount for a newly built home has risen to over $412,000.