How to lose money on new construction in Texas after a 2-year hold.
You can be a smart, working professional and still get taken for a ride buying new construction in DFW (or anywhere in Texas for that matter).
There are few barriers to development in TX, and new neighborhoods are popping up all the time.
You like the shiny new home the builder is offering at $500-$600k on a smallish piece of dirt? Great. Just don't plan on any appreciation if you have to move within two years.
There are countless recent examples like this across the Dallas-Fort Worth market, particularly with buyers who moved here from out-of-state.
Buy for $600k. Sell for $590k. Congrats. You just torched $40,000 including the commissions and closing costs.
Real estate doesn't always go up, and there are plenty of sales reps or agents who will take advantage of your affinity to eye candy or lack of market knowledge just to make a sale or earn a commission.
Be safe out there!
#dfwrelocation