Whether you’re looking for your first home or your fifth, you will always be wondering what the best property for your budget and circumstances is. Deciding between purchasing a new build home or an existing home can be a tough decision; here, we help you choose the best home for you. Buying your dream home involves a lot more than just scouring the internet or estate agents windows. You will need to decide between many factors, but one big decision is whether to buy a new build home or an existing property. We’ve compiled a number of pointers to help you make an informed decision about which home is best for your budget, circumstances, and lifestyle.
Personal taste – A new build home is the clean slate many interior design buffs crave. With no furnishings or stand out decor, you can truly put your personal stamp on a property. If you’re creative or imaginative, this is a great way to let yourself really explore. This isn’t always possible with existing homes as they have been decorated to suit the current occupants.
No moving chain – Opting for a new build property can significantly reduce the stress involved in buying a home as there is no ‘moving chain’. No-one else lives in the house, so you don’t have to deal with any potential issues there, and you can move straight in. Be aware though that delays to the building work could slow down the moving process.
High-specifications – Most new builds come fitted with all the mod-cons you would expect. New builds must also comply with up-to-date building regulations set by the Government. This means you can expect the most modern heating systems and loft installations; helping reduce maintenance and DIY costs.
Energy-efficient – Because of this, new build homes are often considered more energy-efficient. New build homes can generate 60% less carbon dioxide than an older home; helping you do your bit for the planet as well as enjoying lower bills.
A new community – For some buyers, the idea of moving into an established neighbourhood can be daunting. If this sounds like you, then a new build is a great opportunity to make friends with an emerging community. For first time buyers, this is a great way to share experiences with people in the same position.
NHBC warranty – 80% of new build homes carry The National House Building Council (NHBC) 10 year warranty. This helps insure your home automatically against problems linked to new builds. This peace of mind is great for both first time buyers and seasoned home owners; no-one likes unexpected bills and costs.
Character – People often prefer to move into existing properties because they have character. It is often this unique history that people fall in love with; this is especially true of period properties and listed buildings.
Neighbourhood – Some people love the idea of integrating themselves within a community, or staying close to one they have been a part of for some years. By purchasing an older home, you get this close knit community element. It is also often possible for you to get to know neighbours before your moving date, making the transition smoother.
Buying with confidence – With an older home; what you see is what you get. You also have the security of knowing that a surveyor and lawyer will make sure there are no hidden nasties before you make a bid.
Negotiating power – When buying an older home, you have more leverage on the price. Depending on you and the seller’s circumstances, it is often easier to secure a quick sale and get the ball rolling much quicker. You can also negotiate easier on a mutually beneficial price. The standard of new build properties has never been better, whilst older properties can be a great first step on the property ladder. Weigh up the pros and cons, check out a few houses and developments, and find out which is perfect for you. If you decide on a new build, take a look at some of our latest developments for inspiration.
Walton Homes has introduced a shared equity scheme to enable buyers to purchase their dream home while only raising 80 per cent of its value. The developer is giving potential buyers the opportunity to take advantage of an interest-free loan to the value of the remaining 20 per cent of the property’s price. The scheme […]read more >