New-home communities aren’t winning buyers over by list price alone, and this is especially true for entry-level buyers. When shopping for a new home, first-time buyers are thinking about what their monthly mortgage will look like for the next five to 10 years.

According to a report from John Burns Research and Consulting, every $100 in extra monthly costs is equivalent to roughly $18,000 in home price. But builders can meet buyers where they’re at and offer incentives that lower the monthly payments.

Why should builders pay attention to the monthly payment?

Entry-level buyers are using a home’s monthly payment to assess whether or not they can afford to buy a new home, and HOA fees, property taxes, and insurance costs can all add to the monthly payment.

However, builders can help offset some of those costs through incentives, such as mortgage rate buydowns. This incentive lowers both the monthly payment and the income needed to qualify without changing the home’s price, helping the buyer get into a new home, and, at the same time, helping the builder offset their housing supply.

What else are new buyers looking for?

First-time homebuyers are likely coming from previous rentals. In many cases, first-time homebuyers bounced around from rental to rental, but now they’re thinking of their new home as a place to settle for the next five to 10 years. This means floor plan and livability are top of mind for new buyers. Homes that offer flexibility—such as a flex space that can serve as a home office or nursery—often matter more to buyers than an additional 100 square feet, according to the report.

In addition to the floor plan, buyers are looking for a good experience, so having a confident sales consultant can help seal the deal for many buyers.