Quality of New Property Construction on the Rise
Although home builders have decided to construct fewer homes because of the economic recession, the quality of the new property construction is getting better as indicated by the increasing customer satisfaction.
A report released by JD Power and Associates, it was revealed that overall satisfaction rose by 32 points for the second year, bringing it to 811 points out of 1000. On the other hand, the rate of problems reported by customers regarding new homes declined from 11.51 to 9.55 per home.
For industry experts, the tight competition in the market has left the strongest and most reputable companies standing. Of course, this is certainly good news for home buyers considering that it is now possible to buy quality homes for a relatively lower price.
Surprisingly, areas which gained the greatest in terms of customer satisfaction included California and Florida markets, which were hit hardest by the mortgage and housing crisis. It is possible that local home builders have decided to focus on quality of new property construction and not quantity in order to compete with the thousands of foreclosure properties for sale.
The said satisfaction survey was based on nine factors: workmanship, customer service, price, home readiness, design, location, recreational facilities, performance of construction manager and the sales staff. Among these factors, workmanship quality proved to be the most important as more and more customers are becoming concerned about getting the best value for their money.
On the other hand, it is evident from the survey that the homebuyers are not much concerned with the home readiness and construction manager factors. Most of the home buyers did not spend much time with the manager and most of the homes were already built and just waiting for buyers.
26, 231 home buyers were interviewed for this survey, all of which have occupied the property for at least four months. Companies involved in new property construction are looking forward to increased home sales activity in the coming months.
