September, 2022
Not everyone likes to buy a new build property. Some people prefer the character and charm of an older property. However, there are some fundamental positives of buying a new build which you need to take into consideration when looking a property.
Here are some of the benefits of buying a new build:
Many housebuilders and developers offer properties off-plan. This means you can choose your dream home before it's even built.
If you buy off-plan in an area where house prices are rising, you could benefit from equity growth before you've even moved in.
Some housebuilders and developers offer buyers the opportunity to choose key design aspects of their new home.
This could range from doors, cupboards and plug sockets, to garden landscaping, tiling and the colour of your kitchen worktops.
The sooner you reserve your new home, the more choice you'll have. You may have to pay extra for personal modifications, so study the small print carefully.
There will be no need to carry out repairs, maintenance and redecorate when you move into a new home.
Any such work is likely to be unnecessary for at least the first few years.
If your new home is registered with the National House Building Council, it will come with a 10-year warranty and protection scheme.
Any homes offered under the Help to Buy equity loan have to follow the Consumer Code for Home Builders.
The code requires housebuilders to register with the UK's main new home warranty bodies: NHBC, Premier Guarantee, LABC Warranty and Checkmate.
These warranty bodies represent over 95% of the new homes built in the UK.
If you are a first-time buyer or not selling another property, then you’re not part of an onward chain. This means you can buy a new home at your own pace.
Move in as soon as the home is ready or set a move-in date that works for you, without waiting on other buyers in an upward chain.
New-build homes usually have the latest energy-efficient appliances, which means they are cheaper to run than many older properties.
Newer buildings also tend to be well insulated and double or triple glazed, which keeps draughts out and heating bills down.
Top safety and security measures will also be in place due to the high building standards now required of new-build properties.
These tend to include fire safety, locks on doors and windows, security lighting, alarms, gated entrances and entry phones in new housing developments.
Some housebuilders and developers also offer their own incentives to attract buyers.
These sorts of incentives vary, but may include:
Such incentives help housebuilders and developers to hit targets. Keep an eye out for these deals at the end of the financial year.
There are several schemes available to help you to buy a new build home.
