Why should you consider buying a new-build property?
New build properties are becoming increasingly popular. Not only are there more of them – with government targets meaning that numbers are likely to rise even further in the coming years – but new build homes are diversifying in design and construction too. If you’re looking to buy a home in the near future then a new build property is a great choice.
Minimising maintenance obligations
If you buy an older home then your maintenance obligations could start the day after you move in. With a new build home you’ll get some respite to recover from the costs of moving and should have little or no maintenance work to do during the first few years.
A 10-year warranty
Although most new build homes are far less likely to suffer from issues than older properties, you have the peace of mind that comes from a 10-year warranty. This means that the costs of putting something right from an unexpected fault with the property are covered by someone else.
The opportunity to customise
If you’re buying off-plan then there are many choices that you’ll have, which will enable you to make a new build property your own. Fixtures and finishes, from floorings through to wall colours, can be chosen to suit the design scheme and aesthetics you want in your new home.
A more energy efficient lifestyle
Energy efficiency was not a consideration in the Victorian or Edwardian eras, for example, so if you’re buying a property that dates back to those time periods it’s unlikely to be that energy efficient. Not so with a new build home which has most likely been designed to be as energy efficient as possible – for example, around 80% of recently built homes in the UK achieve a top A or B energy-efficiency. This will also save you a lot of cash in the long run. According to the Home Builders Federation living in a new build home could generate lifestyle savings of around £600 a year.
Help with your deposit
The government’s Help to Buy scheme is currently only available to those who are looking to purchase a new build home. This means that you could potentially buy your home with a deposit of just 5% rather than the 10-20% you’d need to get a mortgage for a regular property.
The question of value
Capital appreciation – i.e. the increase in value of the property – can be faster for owners of a new build property. For example, if you buy early on in the construction process, by the time you move in your new home could already be worth considerably more than what you paid for it. That just doesn’t happen with a regular property.
No existing owner
Forward chains cause a lot of problems in the property purchase cycle. With a new build you’re buying from a developer so there is no need to worry about whether a seller has what they need to sign on the dotted line.
There are many beautiful new build properties available across Surrey and Hampshire – we can help you to find the right one for you.