When it comes to purchasing a new home, there are so many different decisions which need to be made. From size and locations to purchasing a new build or an older house, all of these things need to be considered. You might love the original features that a period property has, or maybe you prefer the sleek, modern design of a new build, knowing the pros and cons of buying a new build home compared to an older property will help you to make your decision.
You Have A Blank Canvas
A new build home is a fresh, blank canvas and many development companies giving buyers a choice of fixtures, fittings and furnishings. Having this freedom available to decorate your new home to your own taste and style can be hugely appealing to many buyers and it takes away the hassle which is sometimes associated with redecorating an older property.
Garden space is often a huge appeal for new build buyers with green fingers, as they are able to specify exactly what they want without having to clear years worth of debris and plants from a house which has been previously owned. Buyers are able to invest in luxury garden furniture without the worry of it sitting in a garden for months whilst they renovate it and can prioritise space for their new purchases, such as a garden corner sofa, without the need for measuring and excavating.
Nobody Has Lived There Previously
A lot of people who buy a new build home are often attracted to the fact that no one has ever lived in the house before and it doesn’t have any previous history. It also means that there is less likely to be any issues during the purchase, as a new build has no upwards chain or, for first-time buyers, there will be no chain at all.
Good Protection and a 10 Year Warranty
All new build homes are constructed to the latest industry specifications and a lot of developers offer insurance and warranties on new-build homes. However, all new build houses and properties now come with a 10-year warranty from the National House Building Council, which gives new build homeowners peace of mind should anything ever go wrong. Thanks to these levels of protection, many new build homeowners find that their maintenance costs are very low in the first few years that they live at the property.
Expensive To Buy
New build homes are as attractive as they appear in their brochure magazine, but this means that they also come with a premium price tag. Much like when you buy a new car, the price of a new property lowers in value from the moment that you move in and they only tend to maintain their price if you live in them for long enough.
In some situations, it may be that you never actually get to see your new build home until it has been built or until you move in. Whilst it is possible that you will be shown around a similar home and presented with drawings, sketches and brochures, your new home might not always match up with your expectations. A lot of people find that when they move in, their new home doesn’t quite match up to their expectations.
Some developers will paint a perfect picture of a new build home, so buyers should be aware as there can often be teething problems which hinder the building process. Delays in construction may mean that your mortgage application expires, or issues which weren’t flagged up in an earlier survey soon rear their ugly head. Whilst reputable companies and development firms offer after-sales care, this can dramatically vary between firms.