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As the economy continues to sputter, so too does the real estate market and that includes new home construction.

“We've seen a lot of activity. But as far as new homes, we have seen it slow down for 2011, yes,” said builder Dan Barber.

Builders, like Barber, would also like to put to rest the notion that new construction is often cost prohibitive for most people.

“It all depends on what you want. You can control costs by making sure you know what your budget is. And by budget we mean your month to month budget to operate the house you're going to build. Obviously you need a deposit, but you certainly shouldn't build a house that you can't afford to support on a month to month basis,” said builder Sam Palazzole.

Keep this in mind as well, going to the bank for a mortgage, whether you're building a house or buying an older home, is exactly the same.

"You need to get approved for a mortgage to cover the expense of the home you're considering and then you need to have a deposit which, typically, is at least 10% to move the process forward. You're still paying closing costs. You're still going to pay your attorney's fees. Essentially, they're the same,” said Palazzole.

If you're considering new construction you'll need to decide whether you're going to buy into a development or acquire a standalone piece of land.

“There are positives to buying into a development because the road and infrastructure is completed. When you buy an offsite, 1 to 2 acres, you have to look at the design of the property and how the topography of the land works and how your house is going to be impacted. There are a lot of different things that are already completed when you go into a development that a buyer doesn't have to deal with upfront,” said Barber.

The biggest benefit to building new? You have control over virtually every aspect of your new home, especially the budget. But you need to do your homework.