Buying a new home is a big step. It takes a lot of planning and consideration and potentially years of saving up. It is a considerable investment, and you want to know that you are going to be happy in your house for many, many years. You also need to know that your home is going to maintain or increase its value during the period that you own it.
You are faced with a lot of dilemmas; and at the end of the day, the decision you make needs to be right for you. One of the most significant choices you might have to make is whether to buy a new build or an older property. Here are a few pointers to help you make that decision.
You Will Be The First Owners
When you are buying a new build property from a house builder such as redrow.co.uk, you will be the first to own that home. You are not joining a chain where you’ll be waiting on the current owners to move out. Often, a chain is one of the more frustrating things about buying a home, and breaks in chains cause so many sales to collapse.
New Builds Don’t Require Renovation
When you first move into a property, the last thing you want to do is worry about having to make costly repairs or renovations. After paying out a considerable amount on deposits and legal fees, you do want to get on and move in and start enjoying the home that you’ve worked so hard to get. Often older properties might need some work doing, which might prevent you from moving in when you would want to and also put a dent in your pocket.
Everything in a new build is new, so in effect, should not need any work doing for some time. There may some snagging issues, but you are not liable for these, and they are generally fixed very quickly by the house builders. But, on the whole, a new build offers an easy option. A new build is essentially a blank canvas. You can choose to put your own stamp on the property once you move it, but it will be in a decorated state when you move in.
There May Be Incentives
Often, when buying a new build, there may be financial incentives to entice you in. You might get a discount for buying your home off-plan; before the property has been built. Some house builders may assist with stamp duty or with carpets. There might also be incentives such as help-to-buy schemes which will help you. It is worth talking to a financial planner or mortgage adviser early on to explore the options available to you.
You Might Be Able To Help Design It
If you are buying off-plan; you may be able to get some say in the design of the house. There will usually be a choice of layouts and a range of fitting options. But you’d have much more control over how the property looked than it has already been built!
New builds tend to be a lot more energy efficient than older properties. They’re perfect for keeping the heat in and as such, you’ll see lower heating bills.
What Are The Downsides?
Obviously, there would be downsides, or there would be no dilemma here, however, what might be a downside to one person, may not be a worry for somebody else. Often new build properties are smaller than older properties. Building developers will try to maximize the profit potential from any space that they build; therefore, homes may be smaller. Obviously, that is not always the case. There are plenty of smaller older homes and plenty of large new builds. Your new build home is under warranty when you buy it, and your house builder will ensure that and snagging is rectified, however for some this may be a headache. If the list is long, or the items major, it can take some time to get them all fixed, however it is possible to employ a professional early on to list any snags and communicate these before you get the keys, so that the builders can ensure that the property is ready for you when you move in.
There are many reasons to choose a new build property. There is no right or wrong decision here; however, do plenty of research before you make a decision. Go and look at some show homes, and read reviews from current homeowners who have used house builders you are considering. You are making a big step, make sure you take it with your eyes open.
Pictures in collages are all via Pinterest.