Buying a new home can be daunting, especially if it is your first time. There are so many considerations around location, type of property, number of bedrooms and a whole host of other things. One big decision is whether to buy a new build or an older property. In this article we will take a look at the benefits of buying a new build and give some hints and tips on what you need to look out for.
It’s new!
This seems obvious, but the fact that your new build is new should mean that there is no work to be done and any snagging work is the responsibility of the builder to put right. This means you can move in knowing that there won’t be any costly upgrades or improvements needed. Also, the property will be decorated neutrally so it is a blank canvas to allow your design ideas to flourish.
Off plan
There is potentially a massive benefit to buying off plan, you get to buy your property and make customisation decisions before you even move in. You can choose the kitchen style, the flooring, choose how many sockets and where they are and even choose the tiles. This means you have your dream home the moment you move in.
Warranty
If your builder is registered with the National Home Builders Council (NHBC) or any of the other large home warranty providers then it is going to have a 10 year structural warranty. Typically, the builder will give a 2 year warranty for the overall quality of the property as part of this. You do not get this protection when buying an existing property over 10 years old.
Latest standards
A new build will always be built to the latest efficiency and safety standards so you can be assured that your new home is safe and energy efficient. This typically means that a new build property is cheaper to run than older properties.
No upward chain
As there is no upward chain on a new build, the buying process is a lot simpler. Also, as the builder wants to sell as quickly as possible, there are unlikely to be any compromises to make on the timing of the move.
Assistance schemes
Buying a new build is being incentivised by the Government and schemes such as the help-to-buy scheme and the shared ownership scheme make it much easier for home buyers to buy their dream home. These are, however, only offered on new build properties.
Incentives
A lot of new build home builders offer additional incentives, like including flooring, paying for your Stamp Duty or even smaller aesthetic options. Quite often larger new estates will have more than one developer so might be worthwhile having a shop around for the best deals.
A new build home doesn’t suit everyone, but if you are looking for a home you can move in and not have to worry about DIY projects or improvements, then this could be your best option.
