As the saying goes, “you get what you pay for”. That’s why many people choose to buy new homes because they offer so much more and cost so much less to run. What’s not to like?
The appeal of a turnkey home, with fresh décor, shiny new fixtures and fittings ensures new build properties are always in huge demand. It offers you an untouched blank canvas to create your perfect home. Minimal maintenance requirements and energy efficiency are also big plusses for those who choose buy new. With increasingly high energy bills, there are more reasons than ever to prioritise living in a well-insulated property, kitted out with all the latest energy-saving technology.
1. Rest assured
New homes are built using the latest technology and comply with the highest build standards. Unlike older properties, it’s unusual for new homes to have problems with subsidence, electrics or plumbing. However, if there are problems then you can rest assured that they will be fixed quickly at no cost to you. This is because every new home comes with a ten-year warranty from an organisation such as the National House Building Council (NHBC).
2. Everything’s new!
By definition, a second-hand property has been lived in before and it will likely contain pre-owned dated or worn flooring, and kitchens or bathrooms that may need replacing. This work doesn’t come cheap. The typical cost of a new bathroom can be as much as £10,000, with kitchens starting around the £20,000 mark. Even with the most careful budgeting, the costs of doing up a property can often exceed the original expectation.
With a new build property everything is brand new so you have none of these costs, and assuming you reserve your new home early enough you may even be able to choose your own kitchen, flooring and carpets to suit your tastes and needs. Your brand new home will be bespoke to you and won’t reflect the tastes of the previous occupant.
3. A done deal
One of the joys of buying a new build is knowing that there is no one in the purchase chain above you. In uncertain times, it can be reassuring to know that little can get in the way of you moving into the home you have set your heart on.
To make things even more painless, many developers may offer to buy your existing home in part exchange if you reserve one of their properties. This gives you a guaranteed buyer and ensures everything is straightforward, quick and stress-free.
With a second-hand home, gazumping and fall-throughs, unfortunately, do happen on occasion. With a new home, this doesn’t happen as you pay a reservation fee that holds the property for you. There are no fees to pay for a building survey or nail-biting waits for the results as everything is new and supported by warranties.
4. Save money and the planet
Many old houses are inefficient and expensive to run. Often room sizes and shapes no longer work for a modern lifestyle, windows and doors are drafty, and walls and roofs are poorly insulated. New homes are the complete opposite.
Modern properties must comply with stringent regulations that require highly efficient central heating systems, top-quality insulation and LED lighting to be fitted. As a bonus, many new houses will also feature integrated solar panels that will generate some most welcome free electricity during the day – even when the sun isn’t shining.
Data from Energy Performance Certificates shows that over 80% of new homes have the highest A or B rating which compares to just 2.2% of existing properties. The average rating is a D for a second-hand house or C for a pre-owned flat.
Recent research has shown that a new build home’s energy bill can be as much as 55% less thanks to the careful energy-efficient design and in today’s climate, this can equate to a saving of thousands of pounds each year. Far more people these days are now discounting a property with a poor EPC rating, as it is simply not affordable or sustainable to heat them.
With any style of new build home, you can expect to pay far less for your heating bills – as well as reduce your carbon emissions.
5. Green mortgages for new build homes
A growing number of mainstream lenders are now offering green mortgages which reward you for saving energy in your property. A mortgage provider will give you a lower interest rate or cashback and a larger loan if your home meets a minimum energy-efficiency level.
Each lender will have its own terms and conditions for its green mortgages, but they are generally available for homes with an EPC rating of A or B, typical of new builds.
Going for green could be a savvy way to help combat rising energy bills and bag yourself a better interest rate to boot.
Whether you’re mulling over the purchase of your first home, or looking to move up the property ladder, buying a new build home could be the most hassle-free, eco-friendly and cost-effective option available.
To browse the selection of new build properties we are currently marketing, click here.
For queries related to a new build property purchase, contact: newhomes@haslams.net | 0118 960 1010
For any additional questions, please do not hesitate to contact Haslams directly.