Low maintenance and significantly reduced running costs
There are many factors to consider when buying a house. Location, size, price range, outdoor space and features all come into the decision-making process. There’s also the matter of choosing between a period property with historic character, or a new-build home with low maintenance and significantly reduced running costs.
Your inclination may be to opt for an older-style home, perhaps because you’ve always lived in this type of property before. However, it’s worth considering the real advantages of buying a new-build home.
New-build homes today are built to a much higher standard. Regulations dictate that new builds must adhere to minimum standards for energy efficiency – which is great news for both our planet and your finances!
Generally speaking, new-build homes are significantly cheaper to run and will reduce your household carbon footprint. Though it’s possible to improve energy efficiency in an older home, this tends to be a costly process.
Furthermore, a brand new home will be in perfect condition, with no need for repairs or renovations. You’ll also have a wide variety of choices when it comes to floor plans, finishes and other features. Plus, your new home will come with a warranty from the builder, which guarantees that any defects in the construction will be fixed free of charge.
You’ll get the reassurance of a ten-year warranty from an organisation like the National House Building Council (NHBC) or similar, which will cover any structural defects with the building. This means that if any problems do arise, the builder (for the first two years) or the NHBC (for eight years after that) will cover the cost of putting it right.
And you’ll be able to personalise your new home exactly to your taste and needs.
5 of the main benefits of purchasing a new-build property
Buying new comes with a number of specific advantages, including:
- Everything is new
No one has lived here before, no one has used the appliances or the shower, made marks on the carpet or little holes in the wall. There’s nothing to clean because everything is straight out of the box. What you get included varies with each new development, but everything that you do get will be new and will be covered by a warranty for a period of time.
- Better for the environment
It’s more environmentally friendly than an older property, and is therefore extremely energy efficient. Modern houses are better insulated, have more efficient boilers and appliances, there are no drafts round the windows and doors, the heating comes on and goes off when the button is pressed. This is better for the environment and, as a bonus, also means your monthly bills could be lower.
- Property specifications
If you buy off plan some developers might allow you to design certain areas of your new home. For example, you might be able to design your kitchen and bathrooms. If you don’t have the opportunity to buy off plan, new-build homes tend to be built to contemporary specifications to meet the needs of a modern lifestyle.
- You don’t need to do DIY
One of the best things about buying a new-build property is that it is completely ready for you to move into; you don’t need to spend your time painting walls, doing DIY or renovating. You can move in and start enjoying your new home right away. You can start with a blank canvas when it comes to decorating or laying out the furniture. Just move in, unpack and relax.
- Finance schemes
There are financial incentives, such as Help to Buy, which are only available for buyers who are purchasing a new-build home. If you are a first-time buyer, Help to Buy could help you to get onto the property ladder sooner. This is a government scheme to help first-time buyers get a property with just a 5% deposit. You can borrow 20% of the purchase price (40% in London), interest-free for five years. You can apply to the scheme until 31 March 2023.
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