Why Buy a Newly Built Home?
Some people love a new-build, others avoid them like the
plague. Obviously, there are both pros and cons to buying a new build property
through an estate agent of developer. Here we are going to take a quick look at
some of the advantages of a new build home over an established property.
A new home is exactly that, NEW!
It should be a blank canvass with everything fresh, clean and new, ready for
you to put your stamp on it and personalise it your way. Moving into a new
build home should be pretty straight forward and should be a case of just
unpacking your belongings and enjoying your new home.
With a new build home there
should be very little to do with regards to maintenance, repair or building
work. This is one of the biggest attractions for many people to a new home –
nothing to do to it!
Although it is generally accepted
that new homes can attract a ‘new home premium’, there are also schemes
designed to help property buyers get a foot on the ladder. The Government’s
Help to Buy Scheme is only available on brand new homes, and a majority of the
shared ownership properties available are new builds.
As new build homes have to comply
with the current building regulations, this generally means that they are much
more energy efficient than older properties. The benefit of this to the
homebuyer is that energy bills are generally a lot lower on new build
properties. Home Owner Alliance website quotes that over 80% of new homes have
an A or B energy efficiency rating, compared to only 2.2% of established
properties.
A new build home generally will
come with some kind of warranty. The level of cover depends on the warranty
provider and the warranty on offer, but you very rarely get this luxury with an
established property.
Apart from all of the niceties of
actually living in a newly built home, the conveyancing process can sometimes
be a lot easier too. Most developers will put a timescale in place that they
expect the exchange and completion to have taken place in. If you are buying
off plan you may get a completion month when the developer expects you to be
able to move in. This simply doesn’t happen with an established property as their
completion is generally just when everything including the chain is ready.
Speaking of chains, with a new build property, there is no upward chain!
Did you know that Loveitts sell new homes on behalf of multiple
local developers? We currently have a great selection of new build apartments,
bungalows and houses for sale and also to rent. If you have your heart set on a
new build, Loveitts could help you into your dream home. Contact us today on
024 762 58421 or newhomes@loveitts.co.uk.